The Colombo Pharmacy Company, which recently exited from the pharmaceutical business, is planning on apartments and mixed development at its lands in Colombo, officials said. An official told the Business Times that in the 200 perch property at Union Place plans are afoot to build a commercial and entertainment facility while on a 30-perch land [...]

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Pharma firm into apartments and mixed development

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The Colombo Pharmacy Company, which recently exited from the pharmaceutical business, is planning on apartments and mixed development at its lands in Colombo, officials said.

An official told the Business Times that in the 200 perch property at Union Place plans are afoot to build a commercial and entertainment facility while on a 30-perch land at Bambalapitiya, the company is planning a commercial apartment complex.

“We get rental income from our buildings at Union Place and Bambalapitiya and after the special resolution is passed, we will change the name to Colombo Holding Company PLC as it will act as a holding company for our real estate,” the official said. He added that they also want to acquire more land through this holding company in Colombo and the suburbs for real estate development.




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