Thumilan new Chairman/CEO at Kelsey Development

Kelsey Development PLC yesterday announced the appointment of Sivarajah Thumilan as its Chairman/CEO, with effect from January 25, 2023.

In mid-November 2022, Blue Ocean Group, controlled by Thumilan, acquired a 60 percent stake in Kelsey Development PLC from Ramesh and Prakash Schaffter for Rs.257 million.

Following the acquisition, Blue Ocean Group announced a mandatory offer for the balance shares of the company, in line with the Takeovers and Mergers Code.

Incorporated in 1983, Kelsey Developments provides specialist operations in real estate development through two subsidiaries, Kelsey Homes Ltd and Kelsey Homes (Central Park) Ltd. Kelsey Homes has completed over 200 projects, serving over 2,000 satisfied homeowners, creating a considerable portfolio of superior accommodation.
Blue Ocean Group has been one of the prominent organisations in the fields of real estate, construction and engineering with a large customer base traced both locally and internationally.