Rs. 1 trillion into construction annually in past three years
While more than half the growth of the country’s national economy is made up of two sectors namely tourism and construction, more than Rs. 1 trillion worth of construction activitiy has been progressing annually in the past three years, says Minister of Megapolis and Western Development, Patali Champika Ranawaka.
Attending the inauguration of the Architect 2018 exhibition as the guest of honour held at the BMICH in Colombo on Wednesday, Mr. Ranawaka said thes figures published by the Central Bank reveals that in the past two years more than half of the growth of the country’s national economy was contributed to two sectors, namely tourism and construction. “A majority of these developments are in buildings, especially in scaled residential developments, tourism related facilities, commercial office spaces and so on. It reflects a booming construction industry and abundant opportunities for professionals.”
He also mentioned that although the country is experiencing uncertainties in the political arena from time to time, the people have not given up the journey. “Due to mishandling of law and order,
Sri Lanka is experiencing a drawback in its values, ethics, culture and expectations and many wrong decisions have been made incurring a heavy cost to the nation through mismanaged finances. The debt that the country has to repay has gone way beyond our capacity. However if we take a strategic path to manage the society and the economy we are certain to recover within the next few years,” he noted.
A leading international research organisation has predicted that within the next five years there will be a demand for six million square metres of office space in Colombo and in the suburbs. And also there will be a demand for around 50,000 residential units in major cities in Sri Lanka including Colombo, stressed Mr. Ranawaka.
The Architecture Exhibition at the BMICH in Colombo ends today.
Mr. Ranawaka, an engineer by profession, said architecture is a medium to represent people, their aspiration and their achievement and also to transform spaces into place. “Our thinking must transform the spaces around us into places that are conducive for inhabitants, activities and sustainable existence of our nation.”