Prime Residencies completes 35th property project; says IPO in near future  

2 April 2021 09:03 am

Prime Land Residencies Ltd, the condominium property arm of Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. 

With 5 more projects nearing completion and yet another 5 more awaiting launch, the completion and handing over of 35 properties to anticipating residents has established Prime Residencies as the benchmark condominium developer in the country.

Prime Land Residencies is planning to shift from a private family-owned enterprise to a public owned organization – broad basing its shareholders while earning the status of an iconic international player in the region by going in to an IPO in the near future.

 The 35 state-of-the-art properties infused with touches of elegant luxury and smart living are spread across the island. The reach of Prime Residencies’ properties extends to areas such as Colombo, Gampaha, Wattala, Rajagiriya, Uswetakeiyawa, Kiribathgoda, Thalawathugoda, Nugegoda, Pallakele, Panadura, Athurugiriya, Kottawa, Battaramulla, Nawala and Malabe, among many more key locations.

As Prime Land Residencies has established a strategy to tap into all segments of the property market, their property developments appeal to the tastes of a wide variety of customers. 
One of the developer’s most notable developments catering to the high-end market is The Grand Ward Place, Colombo 07. 

The developer has also ventured into resort style properties, with developments in Uswetakeiyawa. 

Prime Residencies’ commitment to constructing best in class residential units has certainly played a key role in filling up the 100,000 units per annum housing gap, while also significantly contributing to the country’s economy. 

These large scale developments have been a driving force for economic growth as investments on condominiums have generated historical returns of 17 percent ROI and 5-9 percent rental yield, according to KPMG International.