Lanka Property Show 2023 Showcases a Resilient and Booming Sri Lankan Real Estate Industry to the World
On the 18th and 19th of March 2023, LankaPropertyWeb hosted the eighth annual Lanka Property Show in the Balmoral Hall, The Kingsbury in Colombo. The event was a huge success, with close to 10,000 visitors attending both physically and virtually, including foreign investors, and solidifying its status as Sri Lanka’s largest property show.
There were 28 exhibitors at the event, including prominent real estate developers, construction firms, banks, and other associated enterprises. The show also featured a Legal Advisory panel for the first time, where visitors could address their real estate-related legal matters. Lanka Property Show 2023 was Sri Lanka’s first-ever hybrid real estate show, which included both physical and virtual elements, which boosted its accessibility, and broadened its reach beyond those who could attend the physical event only.
The expo extended over 835 square metres and featured over thirty projects, including luxury condominiums and gated community housing developments. Visitors could engage with the exhibitors, learn about the most recent trends and technology in the real estate market, and investigate investment prospects. The event’s highlight was the virtual component, which allowed exhibitors to interact with a larger audience than ever before and showcase their projects to a global audience. Visitors from 100+ countries visited the virtual show during the two days it was held and the virtual platform also featured interactive property tours, offering users a more immersive experience of the highlighted properties.
The Sri Lanka Real Estate Investment Forum was held parallelly to the Lanka Property Show 2023. The forum aimed to bring together experts, investors, and stakeholders in the Sri Lankan real estate industry to discuss the market’s key challenges and opportunities. The forum featured three panel discussions that covered a wide range of topics related to the Sri Lankan real estate industry under the topics ‘Navigating Challenges and Attracting Investments to Sri Lanka and Its Real Estate Market’, ‘Strategies when Building a Complete House at a Low Cost in 2023’, and ‘Uncovering Sri Lanka’s Hidden Investment Opportunities’, followed by a one-to-one Real Estate Legal Advice Session. The latter event was notable as it attracted 16,000+ visitors from more than 8 countries, joining the live feed.
Speakers from the real estate sector, academia, and the government provided their perspectives on a variety of themes, including sustainable development, urban planning, and real estate investing techniques. The discussions emphasised the significance of sustainable development and the role of Sri Lanka’s real estate industry in supporting economic progress.
The Managing Director of LankaPropertyWeb, Mr. Daham Gunaratna commented on the event’s success, stating, “While we hope for good news to come from IMF next week, we can already see the positivity in the real estate market today, with 38 projects being displayed at this venue and 1/3rd of them showcased at the event for the first time. This shows that despite the obstacles, new developers are still coming into the market and launching their projects. This industry has given a message to the country and the world that we are still standing strong and will continue to flourish during these turbulent times and I thank the exhibitors today for their support to convey that message”.
The success of Lanka Property Show 2023 has demonstrated the resiliency of Sri Lanka’s real estate industry. Notwithstanding the obstacles created by the global epidemic and economic downturn, the sector has continued to flourish, providing numerous investment opportunities for both domestic and foreign investors. The mission of the Lanka Property Show is to bring all projects and real estate services under one location for buyers to easily find a property and related services in one location and allow the exhibitors to reach a wider audience. With properties being promoted between 15.7M and above USD 1M, this year’s event offered housing and investment opportunities to a broader audience and also reached them via both physical and virtual mediums, underpinning a successful blueprint for future events to come.
Posted Date: 29th March 2023