Port City is one of the largest foreign investments happening in Sri Lanka, which was planned around 10 years back but started implementing recently being a widely spoken topic. This is a newly developing city as an extension to the commercial capital of the country with the intention of improving business inventions. Since this becomes a noteworthy turning point of the whole concept of urbanization and industrialization, this can be a game-changer in different sectors in the country.
This currently developing Port City, the economic zone, and the International Financial Center located in Colombo has been one of the major milestones in most of the revenue markets on the island. Likewise, this is being an integral part of the real estate market in Sri Lanka which is presently boosting and widening its territories with flowing in direct foreign investments. Port City has become a bridge to expand this new dimension of the market along with its quality as well as the demand for the market.
Implementing the port city in the center of the real estate industry indeed brings a vast number of benefits to the market. Most prominent thing is that following the sophisticated technologies and the structures of Port City, the developers around Colombo start to improve their standards and their structures. In a way, the authorities will also allure to keep a step forward to improve the infrastructure facilities around the city. This is not obviously concerning the competition, but because of the visible incompatibility. It is not realistic to have totally different two worlds in the same industry. Thus, Port City uproots the expected standard of the real estate territories of Colombo because of which the demand heightens for the apartment and residential premises within the city.
On the other hand, most importantly Port City clears the path to attract outland population along with foreign investments that the real estate marketers strive hard to achieve in the present scenario. The reason for this is that Port City itself opens up foreign investments and international financial avenues and thus the flow of foreigners increases. Getting benefits out of it, real estate marketers around Colombo can attract some of them to their developments since they all are situated quite near to the Port City premises. Therefore, Port City leads to higher up outland demand for the market which is not easy to achieve.
Apart from that, it also works on attracting more local population out of Colombo since the Port City takes the development into another magnitude. Hence, the internal population tends to shift more towards Colombo focusing on the evolution happening within Colombo. This tendency opens the doors to the real estate marketers around Colombo since the demand could be high for their projects along with the shifting population. Not only that, because of the demand, there is a possibility of springing up new real estate projects as well.
Bottom line is that Port City indeed is a game-changer for the real estate market as it increases the demand both locally and internationally while promoting and raising up the industry to higher levels.
