Business News Update: The investment opportunities in Sri Lanka’s property development sector generated significant interest at the 2019 Luxury Properties Showcase Ltd. (LPS) exhibition in Shanghai, China, according to Altair, one of the leading participants from South Asia at the invitation-only event, which attracted a record 12,500 elite property investors from around the world.
Altair was among nearly 250 top-notch international real estate companies that came together during the three days of the exhibition under the LPS flag in Shanghai’s most iconic venue: the Shanghai Exhibition Centre.
“While the depth of investor interest in our offering was extremely encouraging, Sri Lanka’s ability to convert this to sales is constrained by the absence of a structured investment-linked residence visa programme similar to those offered by many competing destinations,” Altair Director Mr Pradeep Moraes said.
The world’s most authoritative luxury real estate companies were at the show, from Coldwell Banker to Compass, Deleon, Lennar, Re/Max, Berkshire Hathaway Home Services, Barfoot & Thompson, Harcourts, McGrath, John L. Scott, Huttons, Mar Yapi, ERA, Windermere, SMDC, Royal Lepage, Nakheel, Omniyat, Sobha, Aldar, Meraas, and many more.
The Asia-Pacific region was well represented with the participation of China, Singapore, Malaysia, Vietnam, New Zealand, Australia, Cambodia, Sri Lanka, the Philippines and Myanmar, as well as two national pavilions set up at the show: a Thai Pavilion and a Japan Pavilion, reflecting the growing appetite of Chinese investors towards these two markets.
In its 20th edition, LPS Shanghai 2019 was held in cooperation with Maserati Poly Shanghai, Ferretti Group, Hang Seng Bank and was supported by over 260 official partners and media.
Pictured here is the Altair team led by Indocean Developers Director Pradeep Moraes (3rd from right) at LPS Shanghai 2019.