LankaPropertyWeb Property Developers’ Forum 2022

LankaPropertyWeb (LPW), Sri Lanka’s No. 1 real estate property portal hosted its first Property Developers’ Forum in collaboration with Hatton National Bank PLC (HNB); a premier private sector commercial bank operating in Sri Lanka, on the 26th of August 2022 at Waters Edge, Battaramulla.

The event was organized exclusively for land property developers of Sri Lanka, and attended by directors, CXOs, and managers from around 33 land development companies, including Prime Lands, Home Lands Holding, Kelsey Homes, Araliya Lands, Promise Lands.

Opening the event, Mr. Daham Gunaratna, Managing Director of LankaPropertyWeb said, “In this world, all structures are built upon land, that is why the value of the land plays a key role in the real estate market. Due to this reason, along with requests from our stakeholders, is why our first Property Developers’ Forum focused on the lands segment.”

At the event, LankaPropertyWeb launched its exclusive 2022 Land Price Index that is built based on the asking prices of lands in the Western Province. The index is the company’s second data driven index, in addition to the most popular House Price Index.

Presenting the LPW Land Price Index at the event Mr. Tharindu Jayarathne, Head of Research at LankaPropertyWeb said, “We wanted to create a single solution platform for buyers and sellers to analyze guideline land price data in Sri Lanka to make their wise decisions effectively and efficiently. This index captures quarterly changes in land prices in the most populated province in Sri Lanka, the Western Province. In the analysis, we used publicly available asking prices for bare lands published in LPW and in other online media. This was a challenge because of the heterogeneity of lands and wide variation in land prices, due to different conditions and unavailability of transacted prices.”

Straying away from the norms of traditional marketing to digital marketing, Head of Marketing at LankaPropertyWeb, Mr. Keith Madampage, presented at the forum, “Regardless of the industry, digital marketing is unquestionably at the forefront of today’s business”, explained Keith. “We were able to boost awareness and conversions by realigning our market strategy, resources, and launching value additions to our online market, and by strategizing the use of social media, we created a platform that allows us to reach our target audience while leaving a lasting impact.”

Participating in the event, Mr. Asir Nawaz, Assistant General Manager – Business Development of Prime Lands Residencies PLC said, “LPW Developers’ Forum 2022 is helping to uplift the real estate industry standards. Especially the way LPW analyzed and presented the Real Estate market data and insights were indeed useful and an eye opener in strategizing future projects.”

Mr. Lalinda Kalubowila, CEO of Kelsey Homes shared his thoughts on the event, “It was a pleasure to join the Property Developers’ Forum 2022 organized by LankaPropertyWeb. A special thanks to the LPW team for their efforts to organize such interactive forums for us to evaluate new trends in real estate and property development, especially during these challenging times. As Sri Lanka’s pioneering real estate developer, we will continue to engage with our business partners to mitigate the ongoing challenges and uncover new opportunities for investors and home buyers.”

The General Manager of Araliya Lands and Homes, Mr. Prabath Gamage also spoke highly of the forum, “We observed new trends, market behaviors, and competitor analysis at the event. Also, the aspects of sales and marketing were thoroughly discussed, and the event concluded successfully with the team at Lanka Property Web.”

Mrs. Lanka Jayasinghe, Director Operations and Administrations of Home Lands Holding, said “In the data driven world, analytics is essential in decision making. The insightful information we received from the event, certainly shone a light on how real estate operations should be run.”

Mr Daham Gunaratne also added, “Initiating as a Real Estate platform provider 15 years ago, we are now, not only the No.1 real estate online marketplace, but also the provider of fully-fledged real estate solutions to the market; uplifting the standards in the real estate industry. The market research done and indices created by our Data & Research team is an example of how we have expanded our services to further serve the industry. We would like to sincerely thank our partners and stakeholders in the industry for working with us hand-in-hand in the past 15 year and continue to partner with us in our journey.”