Overseas Realty (Ceylon) PLC is the largest
listed
Listed may refer to:
* Listed, Bornholm, a fishing village on the Danish island of Bornholm
* Listed (MMM program), a television show on MuchMoreMusic
* Endangered species in biology
* Listed building, in architecture, designation of a historicall ...
real estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...
company in
Sri Lanka. The company is the developer and the proprietor of
World Trade Center Colombo and
Havelock City. The company was incorporated in 1980 and was listed on the
Colombo Stock Exchange
The Colombo Stock Exchange (CSE) ( si, කොළඹ ව්යාපාර වස්තු හුවමාරුව, translit=Kolamba Vyapara Vasthu Huvamaruva; ta, கொழும்பு பங்கு பரிவர்த்தனை) i ...
in 1982. The company is ranked amongst the ''
LMD 100'', moving 17 positions up to number 76 for the fiscal year 2019/20.
History
Overseas Realty was founded in 1980 and was quoted on the Colombo Stock Exchange in 1982. Shing Kwan Group, a Singaporean
investment company led by Shing Pee Tao acquired the company in 1991.
The groundbreaking of the
World Trade Center Colombo took place in 1992. The twin towers were declared open on 12 October 1997 by President
and Shing Pee Tao.
Three days later,
a bombing attack by the LTTE left 17 people (including 12 perpetrators) killed and about 100 people wounded.
The twin towers were restored and recommissioned in June 1998.
The groundbreaking for
Havelock City commenced on 18 May 2004.
It is the largest
mixed use development
Mixed-use is a kind of urban development, urban design, urban planning and/or a zoning type that blends multiple uses, such as residential, commercial, cultural, institutional, or entertainment, into one space, where those functions are to some ...
project undertaken in Sri Lanka.
The fourth and final phase of Havelock City development was completed in August 2021.
Mireka Tower, a 50-storey commercial tower on the site of Havelock City, was topped out in August 2020.
Chairman of the company, Shing Pee Tao died on 24 September 2021.
was appointed as the new chairman of the company on 27th October 2021.
The former Deputy Chairman, Hussein Cassim died on 20 September 2020. He served on the board of directors from 1991 until his demise.
Operations
Shing Kwan Group holds 61% of the company's stocks.
The company recorded a LKR1.97 billion revenue for the third quarter of 2021. LKR1.3 billion in revenue was generated by the sales of apartments.
Overseas Realty (Ceylon) was one of the constituents of the
S&P Sri Lanka 20 Index until 2020 yearend index rebalance.
See also
*
*
List of Sri Lankan public corporations by market capitalisation
References
External links
Official website
{{All Share Price Index
1980 establishments in Sri Lanka
Companies listed on the Colombo Stock Exchange
Real estate companies established in 1980
Real estate companies of Sri Lanka