Saturday, May 8, 2010

Overseas Reality (Ceylon) - Owners of World Trade Centre - Sri Lanka

Overseas Realty (Ceylon) PLC is a premier property development and investment holding Company.

It is a Board of Investment approved flagship company incorporated in Sri Lanka in 1980 to undertake principal activities of investments, development, trading & management of real estate. OSEA is a public listed company & the company is owned by Shing Kwan Investments Co. Ltd.

The company’s portfolio of investment property includes

  • State of art world trade centre, Colombo - Developed, owns & manages.WTC comprise of two towers of 39 floors each with over 700,000sq.ft of prime Commercial & Real Estate space. It was officially opened in 1997.
The world trade centre - reported to be the best business address in Colombo & in Sri lanka.

  • Havelock city project - Investment through Mireka capital land. Mireka Capital land is a joint venture between Overseas Reality (Ceylon), which owns 60% & Bank of Ceylon, remaining 40%.
Havelock city is the largest luxurious residential & commercial apartment complex built on a 17 acre land in the heart of the city. This mix development once completed would comprise of 1,080 apartments, a retail mall, a business hotel, serviced apartments, recreational & entertainment facilities in this “city within a city” concept.

Overseas Reality Ceylon through these two investments strategically positioned as the single largest real estate investment, development, trading & Management Company in Sri lanka.

  • Company has witnessed an upward trend in occupancy level mainly after the end of 30 year old civil war in Sri lanka.
  • Company has completed the 1st phase of the Havelock City Project comprising two residential towers of 226 units,covered parking for 520 vehicles, Approximately 2A/C of landscaped gardens.
  • Apartment sales has increased by 106% in year 2009 over 2008.
  •  Land & Property Sector Price Earning Ratio is currently at 7 & the market Price Earning Ratio is around 20,Clearly shows us that the sector has under performed to the market during past one year period. However this is acceptable when considering the downward trend in the property market in 2008 & 2009 due to the civil war.
  •  Sri Lanka as a country has achieved a dream by wining the war against the tiger terrorists. Now we have  another dream to achieve in future, "Sri Lanka wonder of Asia"

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source ., annual report osea,,