Prime Lands Residencies PLC has been ranked the most valuable real estate brand in Sri Lanka for the year 2021 by Brand Finance – in LMD’s brands annual guide to Sri Lanka’s most valuable brands. The theme for the year was ‘comfort amid volatility’.
“Despite expectations that the pandemic would wane, 2021 was no different from the previous year – the multitude of challenges continued to affect us all. This has put enormous stress on businesses, brands, the economy, and consumer purchasing power, in particular,” said Brand Finance Lanka Chairman Ruchi Gunewardene. “The 2021 year’s analysis of brands has been carried out in the context of this volatile background and economic upheaval. How brands adapt to evolving external factors is paramount to business sustainability.”
“We are honored with this endorsement of the Prime Group as a household brand,” said Prime Group Co-Chairperson Sandamini Perera. “We stand firm in our commitment to contributing towards making Sri Lanka a strong economy with the highest standards in real estate.”
Introducing the brand valuations, Gunewardene said that the brand valuation study is entirely fact-based, using extensive market research and publicly available company financial information.
“We’re humbled to be the leading real estate consumer brand in Sri Lanka, and recognized as ‘The Best of The Best and most valuable consumer brands in the country,” said Perera. “LMD has ranked us as the Most Respected Real Estate organization for four years and Most Awarded Real Estate Entity for two consecutive years. Great Place to Work has recognized us for six years as a team that works with commitment, passion, and purpose.”
Prime Group is Sri Lanka’s first and highest credit-rated real estate group to achieve [SL] A (Stable) rating from ICRA Lanka Ltd., a subsidiary of Moody’s Investor Service. Prime Group has ongoing and completed projects with a portfolio of over 30 individual housing projects, land projects spread across 18 districts in the country, and 43+ apartment projects located in Colombo and the suburbs.