Sri Lanka Telecom (SLT), the flagship national ICT solutions provider and premier broadband services and backbone infrastructure operator is proud to announce the incorporation of yet another fully owned subsidiary, SLT Property Management (Pvt) Ltd (SLT PML). SLT floated this new subsidiary to focus on property management in order to streamline and maximize the utilization of the group’s extensive property portfolio scattered island wide, including in all the main cities in Sri Lanka. The main focus of SLT PML is to develop SLT’s own properties through joint ventures and partnerships. The company will also look at opportunities available to lease/hire its facilities/venues to different parties for different purposes such as trainings, seminars, workshops, recreational purposes as well as for other business activities. The company website www.sltproperty.lk enables all interested parties easy access to view its wide range of services.

Mr. Prabath Gunathunga, CEO of SLT Property Management (Pvt) Ltd., Mr. Nimal Welgama, Chairman - SLT Group and Mr. Lalith De Silva, Group CEO of SLT and several VIPs and SLT Senior Officials at the opening ceremony held at SLT PML premises recently.

Given the growing demand for property in Sri Lanka, it was strongly felt that such unutilized or under-utilized lands could ideally be channeled towards more lucrative avenues that would not only enhance the value of the property, but also have a positive impact on the SLT Group’s bottom line. Correspondingly, the broader mission of SLT PML is to realize the maximum benefits from SLT’s current and future properties, while focusing on the advancement of the social well-being of people of Sri Lanka. In tandem with this mission, SLT PML anticipates fulfilling a broader vision in the years ahead, by being “the most sought after partner for investment properties in Sri Lanka".

Mr. Nimal Welgama, Chairman of SLT Group expressing his views on incorporating the new subsidiary in to the SLT Group said, “I am indeed proud that SLT’s progress has remained above par, regardless of the highly competitive nature of the business environment that we operate in. The telecommunication industry is perhaps the fastest changing landscape within the global economy, which makes it one of the most challenging yet exciting experiences. In this landscape, companies such as ours must constantly reinvent our offerings and explore new opportunities as a strategy towards adding value to our shareholders and creating a business that consistently fulfils the aspirations of the investors. Through SLT PML Company, we are further diversifying our business in to non-telco areas to bring new revenues to our group to ensure a better return to all our valued stakeholders.”

Commenting on floating the new subsidiary, Mr. Lalith De Silva, Group CEO of SLT said, “With this new initiative, we are looking forward to support local & foreign investors who are willing to join hands with SLT for any viable joint venture in the future. We believe SLT’s property portfolio has a high economic and market value which will have a growing demand in the future aligning to the country’s economic and business development agenda. Our strategy is to monetize every asset of the company to maximize returns and thereby increase group value. At present, our company holds a portfolio of lands around the country. Therefore we are confident that as a Group, SLT PML will set the new trend in property management with its professional service that would bring benefits aligned with the government’s vision for growth of the economy through the five hub concept”.

Mr. Prabath Gunathunga, CEO of SLT Property Management (Pvt) Ltd. said, “We are looking forward to benchmarking SLT PML both locally as well as internationally as professionals in the management of properties in Sri Lanka. Also we are confident that SLT PML can be a trustworthy property management partner in Sri Lanka for both local and foreign investors”.

In terms of Sri Lanka’s roads, rail network, airports, ports etc., the infrastructure has been built up and is being developed further. This, alongside with new regulations that are becoming clearer provides investors a stronger platform within which to start making decisions and investments. The country’s improved road network and enhanced accessibility on land will provide advantages to the property development process. Availability of energy, electricity and communication facilities are the other key concerns of investors. Overall, this investor friendly peaceful environment will not only help in improving  the productivity of the work force in Sri Lanka but also would support in bringing up Sri Lanka’s ranking in the ‘Ease of Doing Business’ index while helping to enhance the image of the country.