Prime Melwa launches luxury marina-front residential project at Port City Colombo

Prime Melwa Port City (Pvt) Ltd has formally commenced its luxury marina-front residential development at Port City Colombo, marking one of the most high-profile private real estate launches within the reclaimed city project as developers seek to tap renewed investor appetite for premium waterfront property in Sri Lanka.

The project, positioned as a high-end marina living development overlooking the Indian Ocean and the Port City marina, is being developed jointly by Prime Group and Melwa and is expected to target both local high-net-worth buyers and foreign investors seeking exposure to Sri Lanka’s emerging luxury real estate segment.

The launch comes as Sri Lanka’s property sector gradually regains momentum following macroeconomic stabilisation, easing inflation and improving investor sentiment, with developers increasingly positioning Port City Colombo as a regional financial and lifestyle destination aimed at competing with other waterfront urban developments in Asia and the Middle East.

Prime Melwa Port City said the project was designed by Singapore-based architectural firm P&T Singapore and would offer marina-front, waterfront and oceanfront residences within the Marina Zone of Port City Colombo.

“On the global real estate stage, location has always been the defining factor. Port City Colombo stands as South Asia’s most ambitious destination. Where you stand in Port City will matter,” Prime Group Co-Chairperson Sandamini Perera said.

“This is where it begins, with the Marina Zone representing its most prestigious, highly sought-after, highest-appreciating, and rarest address,” she added.

The company said the development would be the only currently available residential project directly fronting the marina, waterfront and Indian Ocean within Port City Colombo.

The launch also signals growing confidence among private sector developers in the long-term commercial viability of Port City Colombo, which has faced both delays and investor caution in recent years amid Sri Lanka’s economic crisis and policy uncertainty.

Prime Group, which has operated in Sri Lanka’s real estate sector for more than three decades, said sales for the project had formally commenced and described the development as part of a broader effort to position Sri Lankan real estate on the global investment map.