Sri Lanka’s real estate to witness upward trend

Image courtesy ciltconvention2013.ciltsl.com



INTRODUCTION

 

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, remedy
the project is being established as an eco friendly project.

 
REASON FOR A SECOND AIRPORT


This project is a need for the growth of Sri Lanka. And also its important because, when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in Sri Lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.
This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.
INITIATION OF THE PROJECT


This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.

 
CONSTRUCTION AND ITS PHASES


Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far, the runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

 

How is it all being done?


The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.
The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.

 
CONCLUSION


The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.

Image courtesy ciltconvention2013.ciltsl.com



INTRODUCTION

 

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, asthma
the project is being established as an eco friendly project.
REASON FOR A SECOND AIRPORT


This project is a need for the growth of Sri Lanka. And also its important because, unhealthy
when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in Sri Lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.
This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.
INITIATION OF THE PROJECT


This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.
CONSTRUCTION AND ITS PHASES


Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far, the runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

 

How is it all being done?


The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.
The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.
CONCLUSION


The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.

Image courtesy ciltconvention2013.ciltsl.com



INTRODUCTION

 

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, viagra here
the project is being established as an eco friendly project.
REASON FOR A SECOND AIRPORT


This project is a need for the growth of Sri Lanka. And also its important because, traumatologist
when there was just a single airport, viagra
planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in Sri Lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.
This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.
INITIATION OF THE PROJECT


This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.
CONSTRUCTION AND ITS PHASES


Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far, the runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

 

How is it all being done?


The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.
The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.
CONCLUSION


The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.

Image courtesy ciltconvention2013.ciltsl.com



INTRODUCTION

 

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, more about
the project is being established as an eco friendly project.
REASON FOR A SECOND AIRPORT


This project is a need for the growth of Sri Lanka. And also its important because, when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in Sri Lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.
This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.
INITIATION OF THE PROJECT


This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.
CONSTRUCTION AND ITS PHASES


Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far, the runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

 

How is it all being done?


The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.
The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.
CONCLUSION


The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.

Image courtesy ciltconvention2013.ciltsl.com



INTRODUCTION

 

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, buy the project is being established as an eco friendly project.
REASON FOR A SECOND AIRPORT


This project is a need for the growth of Sri Lanka. And also its important because, herbal
when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in Sri Lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.
This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.

 
INITIATION OF THE PROJECT


This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.

 
CONSTRUCTION AND ITS PHASES


Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far, the runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

 

How is it all being done?


The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.
The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.
CONCLUSION


The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.

Image courtesy ciltconvention2013.ciltsl.com



INTRODUCTION

 

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, cialis 40mg
the project is being established as an eco friendly project.
REASON FOR A SECOND AIRPORT


This project is a need for the growth of Sri Lanka. And also its important because, sovaldi when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in Sri Lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.
This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.
INITIATION OF THE PROJECT


This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.
CONSTRUCTION AND ITS PHASES


Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far, the runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

 

How is it all being done?


The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.
The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.
CONCLUSION


The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.

INTRODUCTION

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, pills
the project is being established as an eco friendly project.

REASON FOR A SECOND AIRPORT

This project is a need for the growth of Sri Lanka. And also its important because, viagra approved
when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in sri lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.

This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.

INITIATION OF THE PROJECT

This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.

CONSTRUCTION AND ITS PHASES

Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far,
The runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

How is it all being done?

The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.

The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.

CONCLUSION

The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.
 

INTRODUCTION

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, sanitary
the project is being established as an eco friendly project.

REASON FOR A SECOND AIRPORT

This project is a need for the growth of Sri Lanka. And also its important because, Myocarditis
when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in sri lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.

This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.

INITIATION OF THE PROJECT

This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.

CONSTRUCTION AND ITS PHASES

Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far,
The runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

How is it all being done?

The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.

The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.

CONCLUSION

The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.
 

INTRODUCTION

This is the second airport in Sri Lanka following Bandaranaike International airport. It is however still under construction and is located in Mattala in Hambantota district south of Sri Lanka. This project will promote development in the country and ensure efficient transportation system to and from Sri Lanka and within the state. The vision of establishing this second airport is to make Sri Lanka the aviation centre in the Asian continent. It is purposed to serve the Hambantota residents and the east and southern parts of Sri Lanka. Its location is proximate to the fast developing coastal town of Hambantota. On top of that, allergist
the project is being established as an eco friendly project.

REASON FOR A SECOND AIRPORT

This project is a need for the growth of Sri Lanka. And also its important because, cialis 40mg
when there was just a single airport, planes had to fly with a lot of fuel since when experiencing emergency , for instance bad weather or even technical issues, the planes were directed to India. That was the nearest airport. This presented a great inconvenience even for planes that fly all the way only to find that the only one airport is not in operation and hence have to fly back to the nearest airport and not in sri lanka but in another country.
This is huge barrier for those airlines that are trying to establish presence and operations in Sri Lanka due to lack of that second airport. Not having another airport in the country presents another challenge in that it has become costly in terms of insurance premium for aircraft.

This and many more factors led to the government of Sri Lanka to take initiatives to constructing another airport with the aim of developing the country. This is the second airport underway yet to be opened this year, the Maththala International Airport. It is found on a land site of 2000 hectares.

INITIATION OF THE PROJECT

This project was started by president Mahinda in November 27 the year 2009 with an investment put in of 209 million dollars. The airport is aimed to assist development in the country, through increasing both international and domestic travel capacity and transport efficiency, and also to offer support to the other transport industries like the Magampura Mahinda Rjapaksa Port and the Bandaranaike International Airport.

CONSTRUCTION AND ITS PHASES

Construction is planned to be finished in March this year. Everything is in plan and the project could be finished in December this year.
So far,
The runway is finished, 98% of the apron is complete, 95% of the fire fighting unit is also complete and 90% of the cargos handling units are complete. The Terminal building is 85% underway and is in its last phases of construction. The water, power, air navigation and communication systems have all been finished. 70% of the road network around the airport and leading to the airport has been finished. It is clear that also the control tower towering, 45 meters above is in its final stages.

How is it all being done?

The construction is being carried out in two phases. Phase one involves the basic airport facilities, the apron, runway, terminals for both cargo and passengers, a road network, official accommodation, a sewerage treatment plant, a fuel farm, water facilities, meteorological, fire and catering facilities and the car park are to be constructed. That will cover 800 hectares.

The rest 1200 hectares will facilitate airport and aviation facilities. This is the second stage and will include technical training facilities, private jet parking, pilot training centers, maintenance and repairing centers, hotels and other recreational facilities and taxiways among other facilities. This construction is to meet the International Airport standards of the Aviation industry.

CONCLUSION

The airport will be easily accessible since it can be accessed by three main routes and is built on an eco friendly basis thus reducing any environmental degradation. The airport has already been approved as an international airport and recently successful test flights were carried out. This has brought the attention of other airlines to begin operations in Sri Lanka.
 

Probably one of the most breathtaking locations to be found in Sri Lanka! The hotel was built some 15 years ago set atop an elevated headland overlooking the coastal stretch and the adjoining bay with the almost entirely private beach. The hotel has 30 rooms, medicine
2 swimming pools, bar, restaurant, spa- and aryuvedic facilities etc.

The property can easily be upraded to a top-standard boutique hotel especially seeing that the location is absolutely unique!

Laden by the hope of a virtuous future, generic Sri Lanka teems with infinite possibilities and is preparing itself to become a destination of choice.
 
Since the end of the civil war in mid-2009, buy
the country’s economy has been on a strong growth trajectory led by determined rebuilding measures, surging tourism and increased investor confidence. After a sharp decline in growth during 2008-2009, it expanded rapidly by eight per cent in 2010 and 2011, and a further seven to eight per cent is expected in 2012. This makes it the second fastest growing economy in emerging Asia, after China. Low interest rates and moderate levels of inflation will boost trade and industry in the medium term, and the government is also placing increased emphasis on carrying out large infrastructure projects, which will not only improve communications in established areas, but also unlock the hidden potential of other locations.
 
With several local and domestic investors looking to capitalise on a promising economic growth environment and improving infrastructure, real estate has witnessed an upward trend in demand and pricing. The recent upswing in the service sector from finance, tourism, and the IT/ITES industry in Colombo, has triggered a healthy demand for residential space in the Greater Colombo real estate market. The development of premium condominium projects is most prominent in the Central Business District; and sub-divided developments, row houses and villas in the peripheral suburbs have emerged as the preferred choice for middle-income buyers.
 
However, with rising land and construction costs, it is important to be aware of the affordability of upcoming supply. Also, whether it is happening in the right locations and will it be adequate to meet the growing demand?
 
Retailing in the country has largely been confined to established high streets, with domestic retailers catering to an urban population. Lately, Colombo has witnessed the development of some organised retail establishments in up-market locations. Given the current trend in organised retail and brand presence, will there be significant scope for enhancing targeted retail capacity in upcoming residential locations, and will there be an opportunity to expand retail services for food and beverages, healthcare, personal care and tourism?
 
The demand for commercial office space is driven by growth in the banking, IT/ITES and tourism sectors. While Banking, Financial Services and Insurance have an established presence with captive properties across Colombo; IT/ITES is emerging as an attractive sector. According to SLASSCOM, over 40,000 people are employed in the IT and BPO industry in Colombo and the workforce is growing at over 20% annually with low attrition rates of 10-15%. Colombo is comparatively cost competitive and has lower upward wage pressure than many established global sourcing destinations. With limited operational Grade A office space in the city, the demand is trickling down to inferior grade properties. Will this dearth of quality office space continue or will developers and investors 
perceive this as an opportunity to build more and attract global occupiers? What cost advantage does office real estate in Colombo provide for outsourcing?
 
The Sri Lanka Tourism Development Authority figures show that tourism forms 0.6% of the country’s total GDP, and is one of the fastest growing sectors in the economy, growing by 39.8% in 2010. With the Government setting the target for 2.5 million tourist arrivals by 2016, hotels and resorts are set to mushroom in tourist destinations. Are there enough hotels to meet the burgeoning demand from tourism? Will Sri Lanka remain a budget destination or transform itself into an exotic destination for affluent global vacationers?
 
We shall attempt to address some of these issues and many more in the following sections of this whitepaper: Real Estate in Sri Lanka – Prospects and Potential.
 
Zoning the City: The Growth Corridors
 
Colombo has traditionally been the hub of economic and political activities in Sri Lanka and is divided into 15 zones for administrative purposes (Figure 1).  During the last few years, due to the increased service sector activities in the city, the city’s real estate market has witnessed heightened activity and has drawn interest from both national and international investors. The city, including the suburban areas, has been classified into various micro-markets based on similarity of real estate development and characteristics.
 
Offices in Colombo: Putting Function before Form
 
Housing the headquarters of several national and international banking and financial institutions, the capital city of Colombo is the most prominent commercial office destination in the country. In 2008, the Colombo Metropolitan Region (Colombo, Gampaha and Kalutara) accounted for over 48% of the country’s GDP. Demand for office space is primarily driven by growth in the banking, financial services, IT/ITES and tourism sectors. Due to a dearth of supply of quality space, strong demand in the past 2-3 years has trickled down to absorption of Grade B and C space. The city lacks multi-tenanted Grade A leasable office buildings, with most of the demand for prime space absorbed by eight major office buildings.
 
The Fort area has traditionally been considered the Central Business District as it is home to the World Trade Centre, the Ceylinco high-rise and the Bank of Ceylon buildings. The capital has limited alternative office space, with the Access Towers and Hatton National Bank (HNB) Towers, both located in the Colombo 02 district, providing the only other high-end purpose-built space. Alternatively, the Wellawatte and Cinnamon Gardens (SBD) offer office space, which is refurbished residential space and used by a number of domestic firms, or mixed-use developments such as the Liberty Plaza, Unity Plaza and Majestic City shopping malls that have office space above the retail floors.
 
Apart from the Grade A office space detailed above, the CBD and SBD micro-markets have stand-alone Grade B office buildings, especially along the arterial roads of the core city in the SBD micro-market. Galle Road, RA De Mel Mawatha and Union Place have the major share of this unorganised Grade B office space. The office buildings in these localities are typically low rise with the total built up areas ranging from 8,000-30,000 sq ft. Galle Road and Union Place are the major locations for stand-alone self-owned Grade A office buildings used primarily by the Banking, Financial Services and Insurance sector.
 
Supply of Office Space in Colombo
 
In total, the central and secondary business districts of Colombo (CBD and SBD) have nearly 2.5 million sq ft of Grade A multi-tenanted leasable office space. The total stock, including the stand-alone self-owned office space and Grade B office space, is estimated to be around five million sq ft. The majority of the stock is contributed by Galle Road (Galle Face – Bambalapitiya – Kollupitiya – Wellawatte) and the Union Place micro-market. There are several captive towers that are self-owned by banks, financial institutions, government bodies, manufacturing firms and conglomerates.
 
The nearly 765,000 sq ft of office space under construction is scheduled for completion during 2012-2015. Over six million sq ft of office space has been planned but no ground has been broken yet. Platinum One at Bagatelle Road is expected to become operational in 2012, while AEC Towers at Khettarama Temple Road is expected to offer 60,000 sq ft of office space by 3Q12. Among the landmark office projects that are planned, Havelock City Commercial Towers and Suchir NEB are the most prominent. Orion City is expected to deliver 200,000 sq ft of additional office space, followed by 2.1 million sq ft more by 2015. Orion City is the only IT-centric development in Colombo city, with the others focused on non-IT commercial occupiers.
 
Occupancy in the Grade A space segment is extremely high, with HNB Towers, Merchant Towers and Access Towers turning away potential customers. The average occupancy in Grade A office buildings for the past year has been around 95% which is a dramatic increase from the occupancy levels of 2006-2008 which were around 60%. The IT Park at Orion City is over 90% occupied.
 
Rental Affordability
 
Apart from the iconic World Trade Centre (WTC), which offers office space at Rs 260 per sq ft per month, the majority of office space in the CBD and SBD is available in a rental range of Rs 100 – 150 per sq ft per month. Office space in WTC was being leased at Rs 135 – 150 per sq ft per month during 2009, which indicates the rapid appreciation in rents witnessed by Colombo CBD during the last three years. Office space at Galle Road and Union Place is available for lease in a rental range of Rs 75 – 140 per sq ft per month.
 
Orion City, which is the IT/ITES campus of Colombo, offers large IT space areas at Rs 110 per sq ft per month. In terms of real estate affordability, Colombo real estate costs are comparable to other outsourcing destinations and with office space within the city, travel costs are lower than in other outsourcing destinations.
 
Demand Drivers for Office Space in Colombo
 
According to the Asian Development Bank, Colombo ranked first in the City Competitiveness Rankings among the top cities of Sri Lanka, India and Bangladesh, and above the Indian cities of Mumbai, Bangalore and New Delhi. For Colombo, the most favourable sectors in the competitiveness rankings of sector industries were Textiles and Apparel; Finance, Insurance and Real Estate; Information and Communication Technology and Hotels and Restaurants. The future demand for commercial office space in Colombo will be closely correlated with the industries that have the prospects of maximum growth. While growth in the textiles and apparel industry would result in demand for retail and industrial space; growth in finance, insurance and information and communication technology sectors would lead directly to demand generation for quality office space. The growth of the hotels and restaurants sector would result in the development of hospitality real estate. Transport, storage and communications, rubber and plastic products, furniture, the wholesale and retail trade and others would lead to demand for retail as well as industrial space. In this section, we will discuss the prospects for growth in the Finance, Insurance, Information and Communication Technology sectors, and its impact on the demand for office space in Colombo.
 
Banking, Financial Services and Insurance
 
Contributing about eight to nine per centto the country’s GDP, banking and financial services firms have an established presence in the island nation. As of 2Q11, there were 22 banks (including 11 foreign) operating in the Colombo Metropolitan Region (CMR), with over 632 branches and 897 banking outlets. A majority of office space occupied by this sector is in self-owned or single tenanted office properties across all major locations in the city.
 
While the Bank of Ceylon and the People’s Bank are the two state-owned banks having a large network, several private banking firms such as Hatton National Bank, Seylan Bank, DFCC, Commercial Bank of Ceylon and Sampath Bank also have an established presence in the banking and financial services sector. Among the foreign banks that are operational in Sri Lanka are HSBC, Standard Chartered, Citibank, Deutsche Bank, State Bank of India, ICICI Bank, Indian Bank, Indian Overseas Bank, MCB Bank, Public Bank Berhad and Habib Bank.
 
The number of banking branches in Sri Lanka has been increasing at an average rate of seven per annum since 2007. Since it has outpaced the annual population growth of the country, which is 0.92%, the population per bank branch is decreasing and branch density (banking branches per 100,000 persons) is increasing.
 
Information Technology and Information Technology Enabled Services
 
Sri Lanka has witnessed a steady upward trend in the IT/ITES sector during the past decade, with several global firms such as WNS, HSBC, Aviva, Microsoft, Motorola, Industrial & Financial Systems (IFS ), Amba Research, RR Donnelley, Quattro, Virtusa, eCollege, Valista and Innodata Isogen already having off-shore centres in the country. The Government is promoting the growth of the sector, with an aim to make it the top revenue earner for the country within the next ten years. In 2011, the IT/ITES sector achieved export revenues of US$ 392 millionand had over 40,000 employees. IT exports alone have more than doubled from US$ 121 million in 2006 to US$ 294 million in 2010.
 
Key factors that will facilitate the growth of IT/ITES industry in Sri Lanka in the coming years are:
 
» A skilled workforce with low attrition rates – Sri Lanka spends nearly 5.4% of its GDP on education and boasts a 94.2% literacy rate, the highest in South Asia. English is the primary language of higher education and commerce. The country has 23 universities offering international degrees and agreements with other universities including Monash, Curtin, Staffordshire, Manchester and Metropolitan, producing 30,000 graduates annually. Sri Lanka produces 40,000 CIMA or ACCA qualified accountants and nearly 70% of this pool is prepared for outsourcing. As such, Colombo has the largest pool of UK certified accountants outside the UK. This provides a talent pool prepared for outsourcing jobs at reasonable wages. The country enjoys a low attrition rate compared to other offshore destinations, at 10-15%.
 
» Financial attractiveness due to low compensation costs
 
- According to the AT Kearney Global Services Location Index 2011, Sri Lanka ranks in sixth position in terms of overall financial attractiveness among off-shoring destinations. Of the top 50 destinations, Sri Lanka is the most attractive in terms of compensation costs, salaries being 30-40% lower than in neighbouring India and also having a lower upward wage pressure. The Sri Lanka IT and ITES/BPO Sector Salary and Benefits Study 2011 carried out by SLASSCOM and PwC, entry level IT sector positions in the field of Application Support start at Rs 29,311 per month while those entering the Business Analysis/ Business Consulting, Software Quality Assurance and Software Engineering areas earn salaries of Rs 41,559-50,345 per month.
 
» Policy incentives for the Knowledge Services sector – To motivate private investments, both domestic and foreign, in the IT/ITES sector, the Government of Sri Lanka has offered several tax incentives, including a full tax holiday of 4-12 years for the knowledge services sector, depending on the minimum size of the investment (categorised into small, medium or large scale enterprises). The tax holidays begin for investments as low as Rs 25 million, clearly indicating the intent of the authorities to support small and medium scale enterprises as well. Apart from the tax holiday, customs duty will be exempted on the import of project related capital goods and raw materials for export oriented projects. To reduce the initial cost incurred on account of import of project related plant, machinery and equipment, the applicable VAT, Customs Duty, and PAL will be deferred during the project implementation period.
 
Apart from tax incentives, the Board of Investment also offers advice in site selection and purchase of land, identification of local partners, and facilitation of residence or work visas for investors and expatriate staff.
 
» Adequate telecom and power infrastructure – Sri Lanka has eight telecom operators and is connected with three international submarine cables providing ample redundancies. It is connected to the South East Asia-Middle-East-West Europe 4 (SEA-ME-WE IV) project – the submarine cable system linking South East Asia to Europe via the Indian Sub-Continent and the Middle East. These fibre optic cables provide a bandwidth capacity of 1.28 tbps, with a 25 year guaranteed lifespan for the technology, offering Sri Lanka an immense bandwidth advantage. Sri Lanka was among the first South Asian countries to establish a 3G and Next Generation telecom network. With peak demand of 1955 MW, Sri Lanka has an installed capacity of 2806 MW, 43% of which is provided by hydroelectric plants. There is no load shedding which ensures a reliable transmission of power.
 
» Strong protection of Intellectual Property Rights – The country is a signatory to international treaties on intellectual property rights such as the Berne Convention and WTO/TRIPS and has adopted a comprehensive IP regime. Sri Lanka has also enacted an Electronics Transactions Act, Computer Crimes Act and is a signatory to the latest UN e-contracting convention. A Data Protection Code of Practice is also under preparation and the country has a strong enforcement unit – the National Intellectual Property Office, which ensures that all regulations are fully adhered to.
 
The Retail Experience – Designing Space for the Consumer
 
Retail establishments in Colombo are largely located along the high streets, either in traditional retail areas like Pettah, Dematagoda (Northern Colombo) or in upmarket established retail areas like Kolupittiya, Bambalapittiya and Wellawatte (Southern Colombo). Given Sri Lanka’s prominence in textiles, tea, spices, gems and jewellery, the traditional wholesale areas in Northern Colombo are busy throughout the year with continuous patronage from domestic as well as export oriented business units. Up-market and branded shopping destinations are found towards the south of the city centre along the Galle and Duplication Roads. Majestic City, Liberty Plaza, Crescat Malls and ODEL are popular with the locals as well as tourists.
 
Shopping Malls
 
Colombo has eight operational shopping malls with leasable areas varying from 30,000-250,000 sq ft. The concept of anchors is still in its nascent stage, and in most cases it is a supermarket or a mini-major occupying about 3-20% of the mall area. At end-2011, the total stock of these operational malls stood at 647,000 sq ft with an average vacancy rate of three to eight per cent. In addition to the existing eight malls, three more are in their planning stage and will add another 1.05 million sq ft of retail space to the Colombo retail stock by 2015.
 
High Street Retailing
 
Prime high street activity in Colombo is largely restricted to Galle Road, Duplication Road and Sri Jayewardene Mawatha along with mostly un-organised wholesale markets in North Colombo like Pettah. 

 

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