Business Times

Potential Sri Lankan economic boom draws Malaysian investors

By Chanaka de Silva

The infrastructure development required for the economic boom in Sri Lanka has attracted a specialized high level delegation of professional and construction services experts to start negotiation and seek partners for future projects here in Sri Lanka.

A seminar organized by the Malaysia External Trade Development Corporation (MALTRADE) in Colombo recently saw several key figures in the local construction industry and the government sector take part in an active discussion with regard to future investment by Malaysians in Sri Lanka.

Speaking at the occasion, Head of visiting delegation, Mohamed Kamurudin Hassan said, “We have made this visit to Sri Lanka to explore business opportunities and bilateral trade and investment relationship between our two countries. Our delegation consists of members from the Construction Industry Development Board, the Malaysian Institute of Architects and from the private sector. “

He said the delegates are from among those involved in civil engineering, mechanical and technical engineering, township and property development, architectural and design services, sewerage treatment systems, industrial building systems, modular building systems, wood wool composite panels and decorative stone work. “With experience that we have gained internationally in these fields we are sure we can make a significant contribution in the development of Sri Lanka,” he added.
Director Archicentre Dr. Tan Loke Mun said Sri Lanka and Malaysia have similar climates which makes it viable to use concepts developed in Malaysia, in Sri Lanka.

“We are also now giving top priority to green buildings and have developed our own system of evaluation. We developed our own benchmark as these buildings must be suited for our climatic conditions and we cannot grade these by standards set for buildings elsewhere. Our aim now is to reduce the carbon footprint of our buildings and make the buildings more energy efficient. In doing this we are giving the people a better quality of life and eco friendly as well,” he said.

Urban Development Authority representative, town planner Chaminda Samaratunga addressing the delegation said that there are several key properties available for development for any interest investor with projects ranging from luxury housing complexes, commercial buildings to Eco resorts.
Responding to concerns raised with regard to the acquisition of land, Mr. Samaratunga said that “commercial properties were available for a 30-year lease with the option to renew extending up to 50 years. However sites for residential condominiums were available for purchase.”

Speaking to the Business Times, Assistant General Manager Cycleworld Corporation, Malaysia Puapathy Muniandy, said, “today low cost housing is very necessary. Further housing projects must complete in a very short time. We have a modular system of low cost housing which is the most suitable solution for countries like ours. Here a house can be put up in just eight days. This system is ideal for both commercial and residential buildings. With time always being short modular system of construction not only enables to complete projects fast but also requires the minimum of labour to do so”.

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