Sri Lankan Construction Industry continues to play an important role in the country's economy. Construction industry is one of the most significant industries that contributes toward the socio-economic growth especially to developing countries. The Construction sector of produces a wide range of products, from individual houses to major infrastructure such as roads, power plants and petrochemical complexes etc.
The construction sector has seen to be the primary beneficiary with the blooming of many new infrastructure projects that serves the rapid urban development. Therefore the construction industry is a vital sector in the Sri Lankan economy and it is 4th largest sector, contributing 6-7% to GDP over past decade in Sri Lanka.
The industry has grown significantly by 12.0 percent during the first quarter of 2016, when compared with the first quarter of 2015. In its quest to make Sri Lanka a regional hub, our Government has embarked on massive development Programmes.
New trends in Sri Lankan real estate sector are the major factor that affects the development of construction industry in Sri Lanka. Luxury residential trends, office market trends, affordable housing trends, hospitality trends and government’s mega infrastructure development projects are directly affect to the construction industry in Sri Lanka now a day.
Government Infrastructure Drive is another trend in Sri Lankan construction industry. Numbers of stalled mega development projects are being re-started. Road development projects, water projects, port city and expressway are some of the major Government led construction projects.
Sustainable construction is a new concept for the construction industry for achieving sustainable development from the various environmental, social-economics and cultural facets
The Sri Lankan construction industry mainly Caters to the Services in;
Focused on Innovative Construction Services
Strengths of the Sri Lankan Construction industry
The Construction sector has diversified into many industries and sectors in the region. Tax concessions, cost-effective labour, low raw material costs, and dedicated government institutions ensure high-quality standards and development controls in construction.
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