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Prime Group’s Bhoomi Realty breaks ground on OAZI in the heart of Kaduwela pre-selling over 100 units highlighting strong market confidence

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OAZI, the flagship residential development by Bhoomi Realty Holdings, a member of the Prime Group, officially commenced construction with a groundbreaking ceremony held in Kaduwela recently.  The event celebrated an important milestone for one of Sri Lanka’s most anticipated apartment projects. 

Positioned as Kaduwela’s highest, safest, and largest apartment development, OAZI is poised to redefine modern residential living and establish a new benchmark for luxury, security, and lifestyle in the region. 

Bringing together premium design, an unmatched rooftop experience, strategic connectivity, and the strength of Prime Group’s development expertise, it ushers in a new era of a truly distinctive residential lifestyle.

Demonstrating outstanding market confidence, OAZI achieved a major overwhelming pre-sales response with over 100 apartment units sold. Early buyer enthusiasm demonstrates strong investor interest and market’s confidence in Prime Group’s proven track record of creating signature residential communities throughout Sri Lanka.

Strategically located at one of the highest and most prominent residential elevations in Kaduwela, OAZI offers residents commanding views, a serene living environment, and exceptional connectivity to Colombo, the Outer Circular Expressway, and key commercial and lifestyle destinations. 

The development is uniquely situated on the New Bypass Road in the heart of Kaduwela, a strategic infrastructure initiative developed by Bhoomi Realty Holdings, which is expected to become an important addition to Sri Lanka’s road network connecting the Low Level Road with the new Kandy Road. 

The project will significantly enhance accessibility and regional connectivity. OAZI has been carefully designed to capitalise on its unique elevated setting, delivering a modern urban lifestyle experience.

The development comprises a total of 351 contemporary apartment units designed to deliver a sophisticated residential experience. A defining feature of OAZI is its iconic rooftop lifestyle destination, set to become Sri Lanka’s largest rooftop experience. Featuring more than 20 premium lifestyle amenities, the rooftop will be anchored by a spectacular 150-foot infinity swimming pool offering panoramic views of the surrounding landscape. Residents will also enjoy dedicated wellness, fitness, leisure, entertainment, and social spaces, creating an elevated lifestyle unlike any other residential development in the country. 

In addition to its premium lifestyle offering, OAZI presents one of the most compelling value propositions currently available in the Sri Lankan apartment market as the project offers an exceptional opportunity for homeowners and investors seeking modern urban living at an attractive price. 

Complementing this value proposition are several attractive payment options designed to provide buyers with greater financial flexibility and ease of ownership. For investors, the project also promises a massive return, positioning OAZI as both a lifestyle choice and a high‑yield investment opportunity

Combining spacious layouts, premium amenities, strategic connectivity, and affordable payment options, OAZI stands out as one of the most accessible and attractive apartment investments within easy reach of Colombo.

The success of OAZI is driven by the vision, expertise, and trusted reputation of Prime Group, Sri Lanka’s leading real estate developer. Through Bhoomi Realty Holdings, Prime Group continues to deliver transformative developments combining strategic locations, thoughtfully crafted design, and long-term investment value. 

For more information, contact 0701 34 77 77 – www.bhoomirealty.lk

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Nations Trust Bank records PAT of LKR 15.6Bn in 1H 2026 following strategic acquisition

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Nations Trust Bank PLC (NTB) reported a strong performance in the first six months ended 30th June 2026, recording a Profit After Tax (PAT) of LKR 15.6Bn.  Following a PAT of LKR 4.6Bn reported in Q1, the Bank’s performance accelerated significantly in the second quarter with operations commencing 1st May 2026, with the successful acquisition of HSBC Sri Lanka’s retail banking business, with an overall asset growth of 26% and a one-off tax credit attributing to the acquisition.

With the successful acquisition and integration of HSBC Sri Lanka’s retail banking portfolio in May 2026, the Bank consolidated it’s position as the market leader in credit cards and premium retail banking services.  A continued focus on service excellence, digital transformation, and disciplined risk management contributed to NTB’s strong first-half performance.

NTB’s performance is supported by healthy asset growth, stable Net Interest Margins (NIMs) at 5.58%, and disciplined risk management resulting in a Net Stage 3 Ratio of 1.05%. Return on Equity (ROE) increased to 31.33%, reflecting the Bank’s enhanced scale and earnings momentum following the acquisition.

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Milco records Rs.1.49 Billion profit in 2025

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State‑owned dairy company Milco (Pvt) Ltd achieved a historic financial turnaround last year, recording its highest‑ever net profit of Rs.1.49 billion by late 2025, according to Agriculture and Livestock Deputy Minister Namal Karunaratne.

Deputy Minister Karunaratne told Parliament last week that the recovery enabled the company to halt privatization plans, clear debts, and extend unprecedented financial benefits. 

On December 31, 2025, Milco disbursed a performance bonus of Rs.75,000 each to all 1,228 employees. In addition, Rs.180 million in profit‑sharing incentives was distributed among 22,000 dairy farmers, marking the first such payout in 21 years.

He further said that Milco had previously accumulated Rs.3.5 billion in bank loans and Rs.1.7 billion in outstanding payments owed to milk‑supplying farmers, but all debts have now been settled.

He further announced that the long‑delayed Badalgama milk factory project will recommence, with capacity to process up to 200,000 liters of milk daily. 

Plans are also underway to upgrade the National Livestock Development Board’s farm in Nikaweratiya, with an additional Rs.1 billion budget allocated to supply high‑yield dairy heifers and male stock to local farmers.

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Unable to pay debts, Hela Apparel files for winding up

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Hela Apparel Holdings PLC has announced that it has filed an application before the Commercial High Court seeking a court-ordered winding up of the company after its Board concluded that it is unable to pay its debts due to continuing liquidity constraints.

In a filing to the Colombo Stock Exchange, the company said its Board reviewed the financial position of the group, including its realisable assets, liabilities, liquidity levels, indebtedness, expected cash flows and creditor obligations before determining that Hela Apparel Holdings PLC and its subsidiaries, Hela Clothing (Private) Limited and Foundation Garments (Private) Limited, were unable to continue their businesses.

The Board resolved on August 4 to seek a court-ordered winding up under the Companies Act No. 7 of 2007, with applications filed before the Commercial High Court on August 5. The two subsidiaries have also submitted separate winding-up applications.

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