Chinese companies dominate key housing projects in Sri Lanka
Chinese companies have become key players in Sri Lanka’s housing sector, taking on numerous large-scale construction projects across the island, particularly in urban areas and regions affected by conflict or natural disasters.
These initiatives are aligned with the Sri Lankan government’s efforts to provide affordable housing for low-income families and displaced communities, especially in the post-war regions of the North and East, Ministry of Rural and Urban Development, Housing, and Construction revealed.
Through state-owned giants such as China National Offshore Oil Corporation (CNOOC) and China State Construction Engineering Corporation (CSCEC), China has provided both financial backing and technical expertise to support the rebuilding of homes and critical infrastructure.
This involvement is not limited to the post-conflict reconstruction but also extends to urban development, with Chinese companies securing multiple contracts to build affordable housing complexes in key cities like Colombo.
In Colombo, the Chinese government has committed to funding five major housing projects aimed at benefiting the low and middle-class population, with an estimated cost of US$350 million. To date, $200 million has been received, allowing the construction of 2,500 housing units.
The Cabinet of Ministers approved a proposal this week to award contracts for these housing units. M/S China Railway 25th Bureau Group Co. Ltd. will build 575 homes in Moratuwa and 108 in Kottawa, while M/S China Harbor Engineering Company Ltd. will construct 586 units in Dematagoda and 112 in Maharagama. Additionally, M/S Shanxi Construction Investment Group Co. Ltd. will handle 615 housing units in Paliyagoda.
These developments, often financed by Chinese banks and supported by Chinese engineering expertise, cater to the growing demand for housing among the upper-middle class and foreign investors, UDA sources revealed
Beyond urban areas, Chinese companies are involved in rebuilding homes for internally displaced persons (IDPs) in the post-conflict regions, including Jaffna in the Northern Province.
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