📈 Real Estate: Prime Lands Achieves Key Milestone in Colombo Border Project

Prime Lands Residencies PLC (CSE: PLR) has reached a significant construction milestone with the topping out of Tower Cosmos, part of its flagship "The Colombo Border" development in Peliyagoda. The project, delivered ahead of schedule, underscores a recovery in the construction and real estate sectors. • Project Specifics: • Tower Cosmos: 20-story superstructure completed; features 152 two-bedroom apartments. • Sales Status: 100% sold out, reflecting high investor demand for urban living. • Completion Timeline: On track for final delivery by December 2027. • Scale: The broader development spans 6.5 acres along the Colombo-Kandy Road, integrating three residential towers (Brielle, Cosmos, and Amaá). • Financial & Sector Impact: • Growth: PLR reported a 43% YoY revenue increase to LKR 2.80 Bn in Q3 FY2025/26, driven by accelerated progress at this site. • Efficiency: The topping out was achieved four months ahead of schedule, highlighting the group's integrated project delivery. • Economic Context: This progress aligns with a 10.5% expansion in the national construction sector (provisional 2025 data), as the industry rebounds with improved financing conditions. • Strategic Partnerships: The project utilizes a mix of in-house expertise via Prime Construction and strategic collaboration with Sanken Construction Ltd for Tower Brielle, ensuring technical rigor and structural resilience.