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Sri Lanka Stops Foreign Land Ownership

Category: Real estate, Posted:25 Feb 2013 | 20:57 pm

In an abrupt move last week the government of Sri Lanka has announced a ban on land ownership for foreigners. This will cover both privately held property and state enterprises.
While the civil war ended three years ago and a rush of foreigners has taken up property, the government has said there has not been enough further investment via hard economic benefits. Much of the concerns is that early investors have been speculators and not those interested in developing significant businesses.
At the same time many foreign investors have been put onto the sidelines for much of last year over concerns about high inflation, weakening currency and rising interest rates.
A regime of long term leases is the governments apparent solution to the ban. The shifting policy is expected to put up another obstacle to foreign investment and may further dampen sentiment about the ongoing economic stability of the country.

Other News

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Phuket International Reopening Next Week

Category: Tourism, Posted:30 Sep 2020 | 09:33 am The resort island of Phuket is preparing to welcome 120 Mainland Chinese overseas travelers from Guangzhou next week on October 8th. As per government guidelines, the visitors will stay in Alternative Local State Quarantine (ALSQ) hotels for 14 days. According to news sources and the Phuket public health office, there are presently nine hotels approved […]
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The Future of Virtual Versus In-Person Hotel Events

Category: Hotels, Posted:25 Sep 2020 | 13:48 pm C9 Hotelworks and QUO have put together a short survey we hope you will take. As we look to the future of events for the hospitality and tourism sectors, we’re curious to understand more about your expectations and appetite. How far will you be willing to travel (if at all)? What subjects will you be […]
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Project Rattan Focused On Restoring Thai Craft

Category: Tourism, Posted:20 Sep 2020 | 08:52 am If you find yourself in Bangkok from now until the end of December, you should take some time and visit Australian designer Patrick Keane’s Project Rattan exhibition at River City. Project Rattan is an exhibition of furniture design featuring Thai craftsmanship and aimed at restoring local artisans to create international level products. The exhibit is […]