News & market updates

ADB is deploying $4 billion to help countries including Sri Lanka manage impacts from the West Asia conflict, with about $3 billion requested by governments and $1 billion for trade finance for energy and food imports. Support includes policy-based loans, countercyclical financing, rapid repurposing of portfolios and emergency assistance.

The UN has formally concluded its emergency response to Cyclone Ditwah after delivering critical assistance to 575,000 people and mobilising $28.5m in donor funds, while recovery and reconstruction needs are estimated at $3.4bn. Around 113,000 homes were damaged or destroyed and more than 2.2m people were affected.

SAARC CCI President Chandi Raj Dhakal met Yunnan Governor Wang Yubo in Kunming to push for expanded trade, investment and connectivity between South Asia and Yunnan, highlighting opportunities in infrastructure, tourism, logistics, digital industries, renewable energy, agriculture and manufacturing.

Port City Colombo forum in Dubai convened about 200 senior UAE business and diplomatic leaders to position Port City Colombo as a gateway for UAE firms expanding into South Asia. Speakers highlighted the project's investor protections, tax incentives and governance framework and noted new strategic partner appointments to deepen Gulf investment ties.

Colombo Stock Exchange ASPI rose 1.68% (up 357.08 pts) to 21,627.10, with the S&P SL20 up 1.55% as banks supported gains. Market turnover was Rs.666m led by real estate; Colombo Fort Investments and Colombo Investment Trust listed scrip-dividend shares effective June 12, 2026.

CG Corp Global chairman Binod Chaudhary highlighted the group's Sri Lanka footprint, noting it holds a majority stake in Union Bank of Colombo and operates multiple hospitality properties including the Taj Samudra. He also cited a BYD agency partnership with John Keells and a cement feasibility study.

Adamjee Lukmanjee Group hosted the "Legacy of Trust - Customer Forum 2026" on 23 May at Cinnamon Life, Colombo to recognise longstanding and top-performing customers. The 160-year group highlighted its supply of animal feed ingredients, Saviya cement and N-Joy coconut oil to agriculture, livestock and construction sectors.

The India–Sri Lanka Binational Bridge and Tunnel proposal — a ~23 km link estimated to cost US$3.6–5.19bn — could lift tourism by 50–70% and cut some transport costs by up to 50%, reshaping trade, logistics and connectivity. Sri Lanka has paused advancement over technical, environmental and sovereignty concerns.

Cabinet approved 77 Businesses of Strategic Importance for the Colombo Port City SEZ in April 2026, supporting about Rs.125 billion (including ~$262m foreign inflows) in land and development value and projecting ~$364m in secondary inflows and roughly 10,000 direct jobs over five years. Regulatory reforms by the CPCEC and CHEC's ~$1.4bn infrastructure investment aim to accelerate permits and unlock an estimated $15bn total development.

Design Square Academy launched an apprenticeship-driven interior design training programme to provide students with on-site project experience and industry-led mentorship, as the dedicated training arm of Design Square (Pvt) Ltd. The programme focuses on practical exposure, industry mentorship and career readiness.

ASPI fell 0.4% (85.70 pts) to 21,461.47 as selling pressure reversed early gains; turnover was below Rs.1.7bn and foreign investors were net buyers of Rs.55.9m. Major negative contributors were C T Holdings, Melstacorp, Ambeon, Access Engineering and Central Finance, while John Keells, Chevron Lubricants and Commercial Bank were top turnover names.

Home Lands will unveil Central Park Boulevard Port City Colombo in a Grand Launch Weekend — a twin‑tower 37‑level development with over 640 units and a total project value of over $300 million (Home Lands' $150m investment). The developer says 50% of units are already sold ahead of launch.

Sasakawa Memorial Sri Lanka–Japan Cultural Centre Trust unveiled the Rs. 3 billion Nippon Office Building at No. 85, Ward Place, Colombo 07. The office complex (three basements, ground plus ten upper floors) was designed by Design Consortium International Ltd. with a hybrid concrete/steel structure and energy-efficient features.

Home Lands says it pre-sold about 50% (over 300 of 640) units in its Central Park Boulevard Port City Colombo twin-tower project, part of a development valued at more than $300 million, ahead of the official 12–14 June launch.

Home Lands will unveil Central Park Boulevard Port City Colombo at a June 12–14 'Grand Launch'—a twin-tower, 37-level luxury development valued at over US$300 million with 640+ units and 50% pre-sold. Home Lands is investing US$150 million in the project and will open the sales gallery on 15 June 2026.

Sri Lanka's BOI and Japanese partners held the 4th working-level Japan–Sri Lanka Committee on Business Environment on 2 June 2026 in Colombo to review and resolve investor concerns and strengthen FDI ties. The session stressed accountability and priorities such as technology transfer, green industry, manufacturing and tourism.

ADB President Masato Kanda said the Pan-Asia Power Grid Initiative will mobilize $50 billion by 2035, with ADB providing half, to connect regional power systems, add 20 GW of renewables and 22,000 circuit‑km of transmission, cutting emissions and creating jobs.

Proposed amendments to the National Environment Act before Parliament would introduce penalties for misleading or false EIA/IEE reports and address conflicts of interest in project approvals. CSF's study of 250 EIAs found systemic weaknesses in reporting quality and accessibility, especially on social impacts.

Overseas Realty (Havelock City) has partnered with Green Cabin to launch 'Havelock City Banquets by Green Cabin', appointing Green Cabin as the exclusive manager and caterer for the development's banquet facilities.

John Keells Properties' Vauxhall DSTRCT in Colombo sold over 300 apartments within the first three months of launch, reflecting strong local and overseas buyer demand for the prime Colombo 02 residential development.

Kishore Reddy was re-elected president of the Indian CEO Forum at its AGM, where the Forum reaffirmed commitment to deepen India–Sri Lanka economic cooperation and urged upgrading the FTA to boost investment in infrastructure, tourism, IT, logistics and services.

Cabinet approved 77 Businesses of Strategic Importance for the Colombo Port City SEZ, including three Primary BSIs (Prime Melwa, Marina Hotel Holdings, Home Lands); land/development costs are ~Rs125bn (incl. ~US$262m) and Secondary BSIs are projected to bring ~US$364m and ~10,000 jobs over five years.

Round Table Sri Lanka reached over 64,800 people with relief, deploying LKR 21 million in hygiene supplies and 18,000 household packs after Cyclone Ditwah caused an estimated US$4.1 billion in damage and displaced millions. The fellowship used corporate-style logistics, airlifts and distribution hubs and is moving into Phase 3 recovery to rebuild rural schools.

Prime Group and Melwa unveiled the Prime Marina Sales Suite at Port City Colombo, introducing Prime Marina — a waterfront residential development of landmark towers with 1–4 bedroom apartments and penthouses. Design partners named include P&T Singapore, Index Design and Grant Associates.

Prime Marina, a $57.6m joint-venture waterfront development at Port City Colombo, has secured reservations for 337 of 550 units ahead of groundbreaking. Construction is expected to finish within four years, with projected revenue over $250m and creation of around 1,000 direct and 5,000 indirect jobs.

Sri Lanka said it will deepen cooperation with France and the EU as AFD marks 20 years in the country, seeking expanded collaboration on sustainable development including green energy, urban and water infrastructure, digital transformation and maritime cooperation.

Home Lands Group appointed Mahela Jayawardene as Brand Ambassador ahead of the Grand Launch Weekend (12–14 June) for Central Park Boulevard Port City Colombo, billed as Sri Lanka’s largest real estate launch.

Prime and Melwa unveiled the Prime Marina Sales Suite at Port City Colombo, showcasing the Prime Marina waterfront residential development. The project features landmark towers with 1–4 bedroom apartments and penthouses, designed by international firms.

John Keells Holdings' Offices at Cinnamon Life received Sri Lanka’s first GreenRE Gold Certification in the Existing Non-Residential category, recognising the development's sustainability performance and energy-efficiency standards.