- Value Appreciation through connectivity
- Newest properties at Waragoda and Raddolugama
Thursday, 17th February 2022, Colombo; Easy access is a key feature of several new developments undertaken by Prime Lands (Pvt) Ltd. The development of new highways in the country and their fast-growing popularity have spurred interest in residential and investment properties with connectivity, aesthetics and convenience. The newest initiatives undertaken by the company are in Waragoda, Raddolugama, Matiyagane in Kurunegala, Kuruwita in Ratnapura and Weligama.
A study done in 2020 states: (The) Benefits of (the) Southern Expressway are mainly the reduced travel time between Colombo and Matara, reduced traffic congestion on the Colombo-Matara Road, reduced delay costs and fuel costs, which thereby contribute to the national economy and the development of fisheries and agricultural industries in the region. In addition to that, property investors have taken advantage of the various new expressways in the pipeline by planning ahead and investing in areas which are in close proximity to these expressways and exit points, which no doubt will see an increase in the price-point in the coming years. Due to these benefits expressways create high land values around the interchanges and further land use patterns are converted.
“Property investment is the wisest investment with the current infrastructure and highway developments,” said Mr Ruminda Randeniya, Deputy CEO of Prime Lands (Pvt) Ltd “Sri Lanka’s expressways and new major highways are planned to supplement the trunk roads to cater to the future needs as long-term solutions. Prime has taken the initiative to develop lands from these areas for the benefit of our customers. The locations have been carefully selected to ensure connectivity, convenience and land-value appreciation.”
“For instance, the development in Waragoda, Kelaniya is just 800m away from the Kandy Road and 1.5km from the highway entrance giving easy access to Kandy, Matara, Kurunegala and other important cities in the country. It is in close proximity to banks, supermarkets, and all the urban conveniences. It takes only 2 mins. to get to Peliyagoda and 5 mins. to the Kelaniya temple. It is in a highly residential yet calm and quiet environment,” he added.
Mr. Randeniya also said that the location in Raddolugama, Seeduwa is just 10 mts. to the airport and very close to the Katunayake E03 Expressway and just 3 km to the Seeduwa town. It is in close proximity to banks, supermarkets and other urban conveniences.
“We have another development in the tourist hotspot of Weligama in a very picturesque area close to the beach. All these properties are good value for money and from locations where lands are in demand. They are ideal as investments and for long-term residence. At a time when we have to deal with the pandemic and foreign exchange shortages, real estate is a safe investment and Prime is backed by more than a quarter century of experience and an unsullied reputation. Prime Lands Residencies is also the only A- rated real estate developer in the country,” Mr. Randeniya said.