Home Lands, Sri Lanka’s number one and most trusted innovative developer, has secured an
over three-acre premium mixed-use land parcel at Port City Colombo in a landmark transaction
valued at USD 40.1 million (approximately LKR 12.5 billion), marking one of the most significant
single investments made by a Sri Lankan developer within the country’s most ambitious urban
development project.
With this milestone, Port City Colombo joins hands with Home Lands, Sri Lanka’s market
leader in real estate, the consecutive three-time ‘Best Developer Sri Lanka’ award winner at the
PropertyGuru Asia Property Awards and the distinguished Superbrands status holder,
reinforcing the presence of globally recognised local excellence within the rapidly evolving
Special Economic Zone. The acquisition reflects Home Lands’ financial strength and long-term
confidence in Sri Lanka’s future, as the company stands as the only single Sri Lankan developer
to undertake such a significant and independent investment at Port City Colombo, without
entering into a joint venture or foreign partnership. The move underscores the Group’s robust
capital position and institutional resilience both locally and internationally.
The land reservation will pave the way for a USD 300 million mixed-use ultra-luxury
development comprising twin 40-storey towers with over 600 exclusive units. Envisioned as a
resort-style vertical sanctuary inspired by a forest concept, the project will integrate architecture,
greenery, and lifestyle elements to create a distinctive living environment within Colombo’s
emerging global financial district. Widely recognised as the pioneer of resort-style living
concepts in Sri Lanka, Home Lands continues to elevate experiential residential design to new
heights through this landmark development.
Strategically located within the Central Park District of Port City Colombo, the site enjoys one of
the most enviable settings in the master plan. The development opens onto nearly 40 acres of
lush central parkland, connects seamlessly with the Port City Colombo waterway network, and
commands uninterrupted views of the Indian Ocean, including clear sunset vistas and direct
beach access. This rare convergence of oceanfront, parkland, and urban vibrancy positions the
project as a future icon within Colombo’s skyline.
Commenting on the investment, Mr. Nalin Herath, Chairman of Home Lands Group said: “This
investment represents far more than a land acquisition; it is a statement of confidence in Sri
Lanka’s future and in the strength of our own capabilities as a homegrown developer. We made
a deliberate decision to undertake this project independently because we firmly believe that Sri
Lankan companies have the financial strength, expertise, and vision to deliver developments of
global scale. Port City Colombo is a transformative national initiative, and Home Lands is proud
to contribute to it with a landmark development that will redefine luxury living and set new
benchmarks for the region.”
Port City Colombo, designated as Sri Lanka’s first foreign currency-denominated Special
Economic Zone, continues to attract strategic investments that enhance its positioning as a
regional business and lifestyle hub. With infrastructure delivered to international standards, the
project has established the physical and regulatory foundations required for private sector-led
development.
“The foundation of Port City Colombo has always been about creating certainty; in land,
infrastructure, and governance. As the primary developer, our responsibility has been to deliver
that foundation to international standards and safeguard the long-term integrity of the master
plan. With these fundamentals now firmly in place, we are seeing serious long-term investors
step forward. Home Lands’ decision to take this step independently, as one of the most reputed
local developers, is both significant and encouraging for the next phase of developing this city,
and reflects the project’s growing maturity and long-term economic relevance,” said Mr. Xiong
Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd.
With this milestone acquisition, Home Lands further cements its role as Sri Lanka’s leading
homegrown developer, bringing award-winning expertise, financial strength, and visionary
design to one of South Asia’s most ambitious urban transformations. The twin-tower
development is set to redefine Colombo’s skyline and stand as a powerful symbol of confidence,
innovation, and national progress.
