Lanka Property Show 2017 ends successfully, calls for greater industry regulation from developers

LankaPropertyWeb.com, the leading property website in Sri Lanka recently celebrated its 10th anniversary by orchestrating the most successful property focused show in Sri Lanka to-date. It was held at Hilton Residences on 17 and 18 February. The show featured a plethora of the latest luxury apartments and villas, previews of new property launches and presented the guests with an opportunity to meet some of the finest developers in the country displaying their latest projects. The event was launched at 10 a.m. on 17 February under the patronage of ministers Ravi Karunanayake, Patali Champika Ranwaka and Susil Premajayanth. 

The minister Patali Champika Ranawaka commended the efforts of Lanka Property Web for organising this venture with plans of promoting the property development and real estate market in the country in his speech and stated that more than 30% of the country’s economy comprises of the revenue from the real estate sector.

Calls for better regulation of agents and developers by chairmen and CEOs from leading real estate companies were the highlight during one of the panel discussions held. The novel idea of having panel discussions and seminars during a property show in Sri Lanka showed that there’s a big demand to gain knowledge about the industry by the public, with the discussions being oversubscribed and many having to be unfortunately turned away. The two-day event saw industry experts gather to discuss about the future of the residential and commercial property market and also discuss about the latest status of mega development projects such as Port City and Megapolis. 

In his speech, the Managing Director of Lanka Property Web thanked the ministers for attending the opening despite their busy schedule and said that this was a big encouragement for the property industry of the county to see three ministers attending such a function. He further stated that during the 10 years of its formation the website has become the no.1 property website in the country in terms of ads and visits and they will be true to their founding vision in the years to come – to be the easiest and fastest place to find, sell and rent property in Sri Lanka.

The exhibitors as well as the guests were more than pleased with the opportunities that surrounded the property show as the event concluded with a number of closed sales, reservations and leads in regards to luxury and affordable luxury segments. The exhibitors were especially pleased with the quality of the guests as the two day event welcomed many distinguished guests such as Chairmen, Directors and C-Level officials of various organisations. The show was fortunate in witnessing five closed sales and hundreds of reservations and leads which have the potential of escalating into closed deals soon. The numbers produced in terms of the closed deals, reservations and leads were quite high in comparison to similar property focused shows held in the country up to date. 

Lanka Property Web received a vast number of positive feedback from the exhibitors and participants alike as the show presented a perfect opportunity for exhibitors to meet potential investors in an industry that is growing rapidly in the country. All exhibitors showed interest in future events and Lanka Property Web confirmed that it intends on building on the success of this first event with more events of such nature to support the real estate industry in Sri Lanka.