India’s Sandal Lands looking for Sri Lanka property projects
ECONOMYNEXT – Sandal Lands (Pvt) Ltd of India said it was in talks with Sri Lanka’s urban development agency to seek opportunities to invest up to 25 million US dollars in residential or commercial property.
The firm was in talks with Sri Lanka’s Urban Development Authority, a state agency, to start a 10 million US dollar project, the firm said in a statement.
Sanjay Kasthuria, director of Sandal Colombo (Pvt) Ltd, a unit incorporated in Sri Lanka with approval from the country’s Board of Investment, said the firm was looking at the mid-priced residential market.
The Indian group had struck a 10 million US dollar deal with the government of Maldives to build public housing and was also looking for Sri Lankan partners, he said.