Real estate demand surge translating to strong sales: John Keells Properties

Sri Lanka’s real estate sector is seeing an acceleration in demand, which is now successfully transforming into concrete sales and delivering strong returns for investors, according to John Keells Properties.

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John Keells Properties Head of Sales and Marketing Nadeem Shums confirmed this trend, pointing to high sales velocity across the company’s diverse portfolio, which is segmented into Luxe, Metropolitan, Suburban and Leisure-linked spaces.

Speaking on the Luxe Spaces vertical, Shums noted that at the flagship City of Dreams Sri Lanka integrated resort, “just 20 percent of our inventory left to be sold” across the luxury residential apartments. He emphasised the unique value of this project stating, “developing a project of this scale... it’s not easy to replicate”, adding that the “replacement cost of an asset like this is going to be much higher”. This is compounded by the fact that there is “no new inventory in the luxury segment pipeline”, as noted in the group’s annual report.