Green Lanka Towers, owned by Green Lanka Property Developer Ltd. (GLPL), a prominent fixture in Sri Lanka’s commercial real estate market for over three decades, has officially entered a new phase of growth defined by strategic equity restructuring, potential capital raising and portfolio expansion.
The company has solidified its balance sheet through capital optimisation, securing 100% unencumbered equity in its flagship asset, Green Lanka Towers, located on Nawam Mawatha, Colombo 02. As part of its next phase of growth, the company is exploring new avenues of business expansion and evaluating opportunities to raise fresh capital, including through a potential investment partnership with Dato Sri Vijay Eswaran, Green Lanka Towers Managing Director Raju Radha highlighted recently.
‘Real estate is no longer simply about bricks, buildings, and locations,’ stated Green Lanka Property Developer Managing Director Raju Radha. ‘It is about understanding what businesses need to become more successful and creating environments that support that ambition. Our journey has given us a deep understanding of shipping, property, businesses, and the importance of relationships. As we look ahead, we are taking steps to explore new avenues of expansion and raise fresh capital to position the company for its next phase of growth.’
‘I am also looking forward to exploring the possibility of raising new capital with my long-term business partner of over 25 years, Dato Sri Vijay Eswaran. Our partner Vijay has been a passionate and bullish investor in Sri Lanka because of his roots in Sri Lanka, just like myself, and he entered this market during some of the country’s most challenging years. His connection to Sri Lanka and his origins in the country have shaped a deep conviction in its long-term potential,’ Radha added.
‘I would like to add that Vijay is a well-known Asian billionaire who operates his business empire in 45 countries, with a presence across one quarter of the world across sovereign nations, and his business model may be better positioned and more far-sighted than domestic markets that could be immature in capital formation, such as Sri Lanka and India, where commercial laws are still in their infancy,’ Radha further pointed out.
‘What characterises him best is that he has remained faithful to his convictions and persevered with what he started. He recognised the true long-term potential of Sri Lanka much before the war ended. That conviction, built through decades of experience and belief in the country’s future, is particularly relevant today as Sri Lanka enters a new phase of economic transformation,’ Radha further said.
The potential capital-raising initiative could provide GLPL with additional financial firepower to pursue new development opportunities, enhance its existing asset base and capitalise on the evolving commercial real estate landscape in Colombo. The potential partnership would bring together Radha’s deep domestic real estate footprint and Eswaran’s international commercial capacity and long-standing confidence in Sri Lanka, bringing fresh strategic direction to GLPL as Sri Lanka’s property sector experiences renewed momentum.
Green Lanka Property Developer Managing Director Raju Radha, Dato Sri Vijay Eswaran
Transitioning Green Lanka Towers into a fully self-sustained asset provides the company with substantial operational agility. The management is pivoting its focus towards facility modernisation, asset optimisation, and tailored commercial real estate solutions designed for institutional occupiers, while assessing opportunities to expand its footprint through new investments and strategic acquisitions.
Parallel to its financial strengthening, GLPL has significantly expanded its corporate tenant lineup at Green Lanka Towers. The company recently added premier banking institution NDB Bank and an offshore business process outsourcing (BPO) entity serving the expanding Colombo Port City economic zone to its client roster. This influx of high-profile tenants reflects evolving market dynamics in Colombo, where businesses increasingly prioritise landlord stability, modern infrastructure and prime accessibility over simple square footage.
‘For GLPL, the opportunity is to combine a strong and unencumbered asset base with fresh capital, strategic relationships and a clear understanding of what modern corporate occupiers require. Welcoming respected institutions such as NDB Bank and the Port City BPO services company as clients is an encouraging reflection of the direction we are taking.’
Looking forward, GLPL is positioning its platform to capture rising demand across Colombo’s key business corridors as the commercial property landscape adjusts to new investment zones and the growth of the Colombo Port City special economic zone. Supported by a strong capital platform and exploring the potential to raise additional capital, the company plans to pursue secondary development opportunities, upgrade existing facilities and explore strategic acquisitions while delivering long-term value for corporate occupiers.
The potential capital-raising strategy represents a further step in GLPL’s broader ambition to transform its established Colombo property platform into a more dynamic growth vehicle, leveraging its existing assets, institutional tenant relationships and strategic partnerships to participate in Sri Lanka’s next cycle of commercial and economic expansion.