Condominium market over priced

No Zoning law in Sri Lanka:

Shirajiv Sirimane

The Co partner of Sri Lanka’s only privately owned helicopter and fixed wing Aviation Company and property developer; Suren R.Mirchandani speaks to Daily News Rendez-vous.

Sri Lanka’s condominium market is over priced in contrast to cities such as Chennai and Bangkok. “Sri Lanka’s condominium houses are definitely 30 to 50 per cent higher than similar complexes built in cities such as Chennai and Bangkok.”

In comparison the high rise office complexes are hard to find in Colombo since many of the houses in business districts has been converted to offices. The people who lived there have moved out of the City.

This is the main reason for Colombo’s skyline not having any high rise office complexes.

“There is no Zoning law in Sri Lanka to discourage people from giving their houses for office complexes,” he said.

An avid drinker of coffee he says that his education at the Colombo International School and the influence he had from Elizabeth Moir moulded him to be what he is today.

Subsequently he had his higher education at Boston University for four years.

Suren who uses a century old safe, to store his documents, still believes in a bit of luxury to his office. However he still uses a Rs. 15 ballpoint pen and says that he prefers to use it rather than losing it to an expensive pen.

As for clothing he prefers casuals even to office. The CEO also takes time to walk down from his office to smoke a cigarette. “I don’t like to smoke in office as the smell of cigarette will entice me to smoke another,” he said.

How did you get involved in business?

In 1993 I joined the family’s garment manufacturing business. In 1996 I got involved in the construction of the Landmark building which maintains over 95 per cent occupancy.

“In 2004 we applied and received an airline operator’s license”. Any entrepreneur who engages in a business venture in a professional, honest and an enterprising manner will never complain that there is bureaucracy in the government.

Currently we are looking at a 200-bed hotel in the Maldives and are planning a residential development in Moratuwa.

The company also acquired the Forbes and Walker complex and has converted it into a warehouse.

How do you see the future of low cost carriers?

They are to stay and they also have a growing business. The budget airlines have also created a new opening to cities, which

 were virtually unknown especially in Europe and in India.

Air Deccan was India’s first low cost carrier and today it operates 540 daily flights to 75 airports.

These airlines are also safe and one must remember that low cost does not mean low.

What are your comments on the Sri Lankan-Emirates deal?

I think that it did a lot of good to the country. It brought in a new fleet to Sri Lankan and the Emirates management groomed the staff to be one of the best and a global award winning one. Today it is also an enormous contributor to the growth of the leisure industry and gateway to India.

Does Sri Lanka need another airport?

Yes I think it is needed. It will also usher a new era to the province. It can also be the venue to provide airline support services.

How do you review the local tax structure?

It’s very irregular. We are ready to pay taxes, as it is a duty of a corporate to do so. We do not mind the higher tax as well. However we are worried of the number of taxes that are being imposed from time to time. There should be a flat tax and eliminate the multiple layer of taxes.

How do you see the ethnic problem?

It has been going on for over decades and I sincerely hope that both parties get ‘tired’ of conflict and come to the negotiating table to discuss and settle their problems.

What is your favourite past time?

I love reading and if its holiday I like to spend my time in the golden beaches down south. I have stayed in hotels ranging from seven star to basic beach cabanas as I love the area.

He says that one of his dreams is to fly Sir Arthur C. Clarke on one of his helicopters for his ninetieth birthday, which will be in a very short while.