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Ceylinco Real Estate Developers Ltd. (CREDL) and Ceylinco Investment Corporation Ltd. (CICL) were launched in Kurunegala recently, in order that they may further develop and expand the many projects that were initiated through Chairman of the Wayamba Economic Development Commission (EDC) and the Wayamba Economic Resurgence Association (ERA), Dr. Lalith Kotelawela who is also the Chairman of Ceylinco Group.

To date 48 projects have been initiated at a cost of Rs. 7 billion.

"It was our Chairman's vision to boost development in the Wayamba region and as a result of the many projects that will be initiated by these two companies many benefits such as infrastructure development, direct and indirect employment and the general uplift of the quality of life of the people will result", said Deputy Chairman Ceylinco Securities and Financial Services Limited Group (CSFSL) Bandula Ranaweera.

CREDL is a BOI approved company which has been formed to initiate township and housing developments in Kurunegala, while CICL is a fully-owned subsidiary of CREDL, formed to engage in Real Estate projects - both are sister companies of the CSFSL Group.

"In the past many Real Estate projects were initiated and in fact some of them are still in progress under the name of CSFSL", Ranaweera said and added that due to the increased activity envisaged in the Wayamba area, it was decided to launch CREDL and CICL.

CICL also plans to engage in financial acitivities such as accepting deposits and lending facilities, in the near future.

Ranaweera said that the office which is in the heart of the town and is open seven days a week, has a staff of 35 who are fully conversant with all aspects of Real Estate.

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