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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.

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UWC Phuket Enters International School Property Market

Category: Real estate, Posted:20 Sep 2022 | 08:46 am One of Phuket’s leading international schools UWC has entered into a development deal for integrated living. The school has subdivided a portion of its land adjacent to the campus and will have properties built by a Phuket real estate group TYSSEN VIP Development. Branded as the Campus Villas, the 44-unit gated estate offers four types […]
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Noku Hotels Open Fourth Hotel, This Time It’s Phuket

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Radisson Re-Enters Phuket Hotel Market

Category: Hotels|Real estate, Posted:10 Sep 2022 | 13:49 pm Global brand Radisson has returned to Phuket with a 179-key property in Kamala, owned by the Destination Group. The Radisson Resort and Suites Phuket is a conversion of the former Swissotel, which had been managed by ACCOR. It is an all-suite property with one, two and three bedroom units. Nearby the hotel, the large-scale tourism […]
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