Daily News Online

DateLine Monday, 13 October 2008

News Bar »

Security: Troops reach Jayapuram ...        Political: TULF leader welcomes TMVP leader’s entry into political mainstream ...       Business: WTC to be ‘full’ soon ...        Sports: ICC President condemns SLC’s US Dollars 70 million deal with IPL ...

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | PICTURE GALLERY  | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

WTC to be ‘full’ soon

Sri Lanka’s premier business hub and office complex, the World Trade Centre (WTC) will be 100 per cent occupied within the next couple of years in housing major companies in the country.

World Trade Centre Colombo

Chief Operations Officer of Overseas Realty (Ceylon) PLC Remaz Ghouse said at the moment they maintain an 85 per cent occupancy rate housing major offices in the country. “We are confident that we would achieve a 100 per cent occupancy rate within a couple of years,” he said.

He was speaking at a press conference, which was held last week to announce the company’ s partnerships with IFS for implementing ERP system for facilitating their operations in Sri Lanka.

“Last year we had our highest occupancy rate which was 95 per cent. Even in this economic situation we were able to maintain 85 per cent occupancy rate selling 750,000 square feet for commercial and retail purposes.

There is always demand for office space in the Colombo area and we are confident that things will be positive in the near future,” he said.

The current value of the WTC has risen to US$ 500 million. The WTC commenced its commercial operations in 1997 and it is one of the 290 WTCs worldwide.

“We maintain a close relationship with other WTCs in the world and maintain international standards in our operations in Sri Lanka. We have adopted latest technologies for ensuring security of the premises,” he said.

“Our Havelock City project consists of residential apartments, hotels and a shopping complex.

However if there is a demand for office space even at the Havelock city project we are geared up to meet those demands too”, he said. “Despite the current economic situation we were able to sell out 60 per cent out of the 226 luxury apartments at the fist phase of the Havelock City project. Most of the buyers are Sri Lankans and we have noticed a few foreigners as well,” he said.

Chief Executive Officer of Overseas Realty (Ceylon) PLC W.D. Barnabas said the implementation of ERP is also to ensure they are geared up to meet the challenges of managing Havelock City as efficiently as have been managing WTC and to improve further. “This will also enable us to position ourselves for future expansion,” he said.

“The ERP system would enable the Group to amalgamate and centralise some of its core functions such as finance, facilities, building management, in order to improve cost and process efficiencies.

After careful evaluation process we selected IFS for our ERP implementation,” he said.

Vice President IFS South Asia Jayantha De Silva said it is a prestige for IFS to implement an ERP system for company like Overseas Reality.

“More than 60 per cent of the IFS applications are developed in Sri Lanka. The ERP system will facilitate integration, efficiency and corporate governance of the company. It will also reduce operational cost of the company”, he said.

EMAIL |   PRINTABLE VIEW | FEEDBACK

Gamin Gamata - Presidential Community & Welfare Service
www.deakin.edu.au
www.lankanest.com
srilankans.com - news & information
http://www.victoriarange.com
www.ckten.com.my
Ceylinco Banyan Villas
www.peaceinsrilanka.org
www.army.lk
www.news.lk
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.helpheroes.lk/

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright © 2008 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor