From right: CBH Lands Founder Chairman Yatila Wijemanne and Deputy Founder Chairman Manjarie Tissera

Boutique, research-based real estate company CBH Lands recently hosted a special press briefing to discuss the current landscape of real estate in Sri Lanka and future investment opportunities, with the launch of its #MyHomeKurunegala initiative.

CBH Lands Founder Chairman Yatila Wijemanne and Deputy Founder Chairman Manjarie Tissera discussed the strategic geographic importance of Kurunegala and the value addition of the recently completed section of the Central Expressway.

A trade economy that has grown on its own, Kurunegala is currently the second largest contributor to Sri Lanka’s national GDP. According to CBH Lands Intelligence, over the past few years, the land prices in Kurunegala have seen an annual appreciation of 60 percent.

Speaking on why investors should invest in Kurunegala over Colombo, Gampaha and other areas, Tissera shared that unlike other popular areas, investing in Kurunegala has the benefits of convenience in travelling, historical pride, affordable price, ample space and natural beauty.

When questioned about the environmental impact, Wijemanne explained, “Generally, we have to go through a minimum of around 12 government bodies for each project, starting off with the Local Authority, Provincial Council, Urban Development Authority and then the government with an analysis. From there we are referred to the Water Board, Central Environmental Authority and Road Development Authority. We have a separate team deployed to handle 
all approvals.”

Adding to this, Tissera pointed out that Kurunegala is the only district in Sri Lanka that requires a developer licence. 

“Every district should have a policy where a licence is required for this kind of subdivisions. That way, other rivers and such can be protected too, not just in Kurunegala,” 
she explained.

According to Wijemanne, while some of the largest retailers record the second highest turnover from Kurunegala, the district is gaining momentum for further industrial expansion, including food, packaging and 
construction industries.