2026-02-21
Prime and Melwa, two Sri Lankan business powerhouses, have joined forces to mark a defining milestone in Sri Lanka’s most ambitious urban development initiative. The partnership has secured one of Port City Colombo’s best marina front land parcels, spanning over four acres and overlooking the stunning Indian Ocean.
The site is set to host a mega ultra-luxury apartment development, slated for completion within four years, ensuring that all apartments offer stunning direct marina waterfront views. The project is estimated to have a total turnover of approximately USD 250 million. Beyond redefining upscale urban living, the project is expected to generate significant economic value and attract international investment, further positioning Colombo as a rising competitive hub in South Asia.
Prime and Melwa Groups’ bold move into Port City Colombo goes beyond a transaction, it’s a transformation, as a piece of Sri Lanka’s global future has been acquired, further endorsing the Port city’s vision to position the nation as a global business and lifestyle destination. The project is a joint venture and will be developed under Prime Melwa Port City (Pvt) Ltd, a subsidiary of Prime Group’s parent company, Prime Lands (Pvt) Ltd.
Premalal Brahmanage, Chairman of Prime Group, said, “We are stepping into bold new frontiers to take Sri Lanka’s real estate capabilities to the global stage, living the Prime Group motto, “Taking Sri Lanka’s real estate to the world.” The Port City Colombo development presents a strategic opportunity to position the country as a competitive luxury property destination and strengthen our international presence. We strongly believe that the proposed mega ultra-luxury apartment project will attract international business travellers, expatriates, and discerning investors, offering strong foreign buyer appeal and significant passive income potential, while reinforcing our vision of exporting Sri Lanka’s real estate.”
A key feature of Port City Colombo is its transactions being denominated in USD and other foreign currencies rather than Sri Lankan Rupees (LKR). This project provides investors with a reliable safeguard and hedge against currency depreciation as well as significantly reducing long-term financial risk.
As Prime Group’s strategic partner in this landmark venture, Melwa Conglomerate brings its industrial strength and legacy of nation-building to the collaboration.
P. P. Anandaraja, Director of Melwa Conglomerate, commented “From our roots in steel manufacturing to becoming one of Sri Lanka’s most diversified industrial groups, Melwa has always built with the country’s future in mind. Partnering with Prime Group for the Port City Colombo development reflects that same vision. Together, we are delivering a project that sets a new benchmark for luxury living while firmly placing Sri Lanka on the international property map.”
As the last land parcel directly facing the Marina of Port City Colombo, the site represents a prime development opportunity within Sri Lanka’s first foreign currency-designated multi-services Special Economic Zone. With this acquisition, seven of the eight land parcels in the Marina District have now been leased to developers, reflecting close to 90% land uptake within the precinct and underscoring strong investor confidence in its long-term potential.
“When leading local companies such as Prime Group and Melwa invest at this level, it speaks to confidence in the country’s future and in what we are building at Port City Colombo,” said Mr. Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd. “Port City Colombo is ready to welcome visionary investors, local and international, who are ready to shape the next chapter of this regional business and lifestyle destination. Our foundation is in place, our regulatory framework is established, and we are committed to enabling long-term, sustainable growth.”
With this landmark venture, Prime and Melwa are shaping not just a destination, but Sri Lanka’s global future.
Photo caption -
From Left to Right
Shane Amadoru, Sales Director, CHEC Port City Colombo (Pvt) Ltd, Thulci Aluwihare, Deputy Managing Director, CHEC Port City Colombo (Pvt) Ltd, Premalal Brahmanage, Chairman, Prime Group, P. P. Anandaraja, Chairman, Melwa Group, Sandamini Perera, Co-Chairperson, Prime Group , P. P. Muruganandhan, Director, Melwa Group, P.P. Barathamanickam, Director, Melwa Group, P. P. Devaraja, Director, Melwa Group
பிரைம் குழுமம் இலங்கையின் முதன்மையான ஆதன கொடுக்கல் வாங்கல் அபிவிருத்தி நிறுவனம் ஆகும். இது துணை நிறுவனங்களின் சக்தி வாய்ந்த கூட்டத்திரட்டை கொண்டுள்ளது. நாங்கள் ஒன்றாக இணைந்து சொத்து தேவைப்பாடுகள் ஒவ்வொன்றையும் பூர்த்தி செய்யத்தக்க புதுமையானதும் மதிப்பு மி