TLDR
The Sri Lankan building construction industry, valued at LKR 1,535 billion (USD 4.2 billion) in 2023, is recovering from economic crisis with projected 6.2% CAGR growth through 2028. The market is dominated by residential construction (35-40%), followed by commercial (25-30%), industrial (20-25%), and institutional buildings (15-20%). Colombo commands 50-60% market share, with emerging opportunities in Kandy, Galle, and Jaffna.
Key findings reveal moderate industry attractiveness (3.2/5 Porter’s rating) with high supplier power and competitive rivalry. Major challenges include 65% import dependence for steel, payment delays exceeding Rs 100 billion, and technology adoption at “Phase 0” BIM maturity. Green building initiatives and government’s $15 billion digital economy target by 2030 drive innovation opportunities.
Strategic recommendations for market leaders like Maga Engineering include establishing BIM Centers of Excellence, achieving GREENSL® certification, and targeting 5% market share in premium segments. The industry faces three scenarios: Infrastructure-Led Growth (35% probability), Economic Downturn (40%), or Green Building Surge (25%), with probability-weighted 2034 market size of $15.8 billion.
Success factors include maintaining 35% working capital ratios, developing technology capabilities, and building government relationships in this 94% public-sector-dominated market.
Market Overview and Current State
The Sri Lankan building construction industry stands at a pivotal moment in its evolution, emerging from one of the most challenging periods in its recent history while simultaneously positioning itself for substantial growth opportunities. The industry, valued at LKR 1,535 billion (approximately USD 4.2 billion) in 2023, represents a critical component of the nation’s economic infrastructure and development trajectory (PR Newswire, 2023). This valuation, while reflecting a significant 21.8% contraction from the previous year due to the severe economic crisis, masks the underlying resilience and recovery potential that characterizes this sector.
The construction industry’s importance extends far beyond its direct economic contribution. As a sector that employs between 8-10% of the national workforce and maintains deep linkages with numerous upstream and downstream industries, its health serves as a barometer for broader economic vitality. The industry’s recovery trajectory, projected at 7.3% growth for 2024, signals not just sectoral resilience but also renewed confidence in Sri Lanka’s economic stabilization efforts (Business Wire, 2024).
Understanding the nuanced dynamics of this market requires examining its structural composition. The residential construction segment commands the largest share at 35-40% of total market value, translating to LKR 537-614 billion. This dominance reflects both the fundamental human need for shelter and the ongoing urbanization trends that continue to reshape Sri Lanka’s demographic landscape. Commercial construction follows as the second-largest segment at 25-30% market share, driven by the gradual recovery of the services sector and renewed foreign investment interest. Industrial construction, accounting for 20-25% of the market, remains closely tied to the government’s industrialization agenda and export promotion strategies. The institutional and public buildings segment, while smaller at 15-20%, plays a disproportionately important role in setting quality standards and driving innovation adoption across the industry.
Geographic Market Dynamics
The geographic distribution of construction activity reveals a tale of concentrated development with emerging opportunities for expansion. Colombo’s dominance, capturing 50-60% of total market activity, reflects its status as the commercial capital and primary destination for both domestic and foreign investment. This concentration, while creating economies of scale and knowledge spillovers, also presents challenges in terms of infrastructure strain and rising land costs that increasingly push development toward peripheral areas.
Kandy, commanding 8-12% market share, represents a different development paradigm. As the cultural capital and a UNESCO World Heritage site, construction activity here must balance modernization needs with heritage preservation requirements. This creates unique opportunities for firms capable of navigating complex regulatory environments while delivering culturally sensitive architectural solutions. Galle’s 6-10% market share is increasingly driven by tourism-related construction, particularly boutique hotels and luxury residential developments catering to both foreign buyers and the diaspora market. The post-conflict reconstruction in Jaffna, accounting for 4-8% of market activity, presents perhaps the most dynamic growth opportunity, with significant infrastructure gaps creating sustained demand for construction services.
The remaining 20-30% of market activity distributed across other regions represents both a challenge and an opportunity. These areas, often characterized by lower purchasing power and infrastructure deficits, require innovative approaches to construction that balance affordability with quality. The government’s commitment to balanced regional development, articulated through various policy initiatives, suggests that these currently underserved markets may experience accelerated growth in the coming decade.
Industry Structure and Competitive Dynamics
The competitive landscape of Sri Lanka’s building construction industry reflects a complex interplay of forces that create both opportunities and challenges for market participants. Through the lens of Porter’s Five Forces framework, we can discern patterns that explain current market dynamics while illuminating potential future trajectories.
The threat of new entrants, rated at 3.5 out of 5, presents a moderate-high barrier that serves to protect established players while not completely foreclosing opportunities for well-capitalized newcomers. The Construction Industry Development Authority (CIDA) grading system, requiring contractors to demonstrate financial capacity ranging from Rs 16 million to Rs 250 million for C6 grade registration, creates a structured pathway for growth while preventing undercapitalized firms from undertaking projects beyond their capacity (CIDA, 2024). The requirement for 51% local ownership in construction firms adds another layer of complexity for foreign entrants, though this regulation also protects domestic firms from unrestricted international competition.
Perhaps more challenging than regulatory barriers is the land acquisition constraint. With 82% of land under state ownership and foreign entities facing 100% stamp duty on property transactions, new entrants must navigate a complex web of relationships and regulations to secure project sites (The Morning, 2024). This creates an advantage for established firms with existing land banks and government relationships, though it also potentially stifles innovation by reducing competitive pressure.
Supplier power emerges as one of the most significant challenges facing the industry, with a rating of 4.0 out of 5. The cement market’s concentration, with Tokyo Cement commanding approximately 35% market share, creates pricing pressures that contractors must absorb or pass through to clients (Global Cement, 2024). The situation becomes more complex when considering that over 65% of steel requirements are imported, exposing contractors to currency fluctuations and international commodity price movements. The 2022-2023 period starkly illustrated these vulnerabilities, with cement prices increasing by 4% even as steel prices declined by 18%, creating unpredictable cost structures that complicated project planning and pricing (Economy Next, 2023).
Buyer power, rated at a moderate 3.0 out of 5, reflects a nuanced market where different customer segments exercise varying degrees of influence. The government’s dominance, accounting for 94% of total construction contract value, creates a monopsony-like situation in many market segments. This concentration gives the state significant leverage in setting terms, payment schedules, and quality requirements. Private sector buyers, while numerically larger, typically engage in smaller projects and possess less individual negotiating power. However, the proliferation of real estate developers and their increasing sophistication in procurement practices suggests that buyer power may increase over time.
The construction industry’s struggle with payment delays, with over Rs 100 billion in overdue payments, represents a critical challenge that affects the entire value chain. Operating margins of 2-5% leave little buffer for extended payment cycles, forcing many contractors to rely on expensive working capital financing that further erodes profitability. This dynamic creates a vicious cycle where financial constraints limit investment in productivity-enhancing technologies and training, perpetuating low-margin operations.
Technology Adoption and Innovation Landscape
Sri Lanka’s construction industry finds itself at the nascent stages of a technological transformation that promises to reshape traditional practices while creating new competitive dynamics. The current state of technology adoption, characterized as “Phase 0” in Building Information Modeling (BIM) maturity, reflects both the challenges and opportunities inherent in digital transformation efforts within emerging markets (ResearchGate, 2023).
The limited adoption of BIM technology, primarily confined to large firms and premium projects, illustrates the classic innovation diffusion challenge. Early adopters, representing approximately 2.5% of the market, include international firms and technology-focused developers working on flagship projects like Colombo Port City. These pioneers bear the costs of experimentation and learning, creating knowledge spillovers that will eventually benefit the broader industry. The early adopter category, encompassing 13.5% of market participants, includes luxury housing developers and firms pursuing LEED certification, suggesting that premium market segments drive initial technology adoption.
The barriers to technology adoption reveal systemic challenges that require coordinated responses. Cost constraints emerge as the most immediate barrier, with BIM software licenses, hardware requirements, and training costs presenting significant upfront investments for firms operating on thin margins. However, the more fundamental challenge lies in the skills gap, identified across multiple studies as the most critical barrier to technology adoption. The lack of BIM-trained professionals creates a chicken-and-egg problem where firms hesitate to invest in technology without skilled operators, while professionals see limited incentive to acquire skills without widespread industry adoption.
Infrastructure limitations add another layer of complexity. While 5G trials are ongoing in Sri Lanka, commercial deployment remains limited, constraining the potential for real-time data sharing and cloud-based construction management systems. The regulatory environment, characterized by voluntary rather than mandatory technology standards, provides little incentive for laggard firms to accelerate adoption, potentially slowing industry-wide transformation.
Despite these challenges, several factors suggest accelerating technology adoption in the medium term. The government’s ambitious target of building a $15 billion digital economy by 2030 creates policy pressure for digitalization across sectors (Daily News, 2025). The growing prominence of green building initiatives, with the Green Building Council of Sri Lanka (GBCSL) certification gaining traction, necessitates sophisticated modeling and simulation capabilities best delivered through digital tools. Smart city projects, particularly the $44 billion Western Megapolis development, create demonstration effects that showcase technology benefits to skeptical industry participants.
Customer Segmentation and Adoption Patterns
Understanding customer adoption patterns through Rogers’ Diffusion of Innovation framework provides crucial insights for market positioning and product development strategies. The construction industry’s customer base exhibits distinct segments with varying receptivity to innovation, price sensitivity, and quality requirements.
Innovators, representing merely 2.5% of the market, comprise international firms and technology-focused developers who view innovation as a source of competitive advantage. These customers, often working on high-profile projects with international visibility, willingly absorb technology premiums in exchange for enhanced capabilities and global best practices. Their projects serve as lighthouses, demonstrating possibilities and setting benchmarks for the broader industry.
Early adopters, constituting 13.5% of the market, include luxury housing developers like Blue Ocean Group and GHR, who recognize that affluent buyers increasingly expect smart home features and sustainable building practices. This segment’s willingness to pay 10-20% premiums for green building features and 15-25% for time-saving technologies creates profitable niches for innovative contractors. Government smart city initiatives and IT park developments like Orion City fall within this category, driven by policy mandates and international tenant expectations that necessitate modern construction approaches.
The early majority, representing 34% of the market, includes larger local contractors and established commercial developers who adopt proven technologies once benefits become clear and risks diminish. This segment’s conversion from traditional to modern methods represents the tipping point for industry-wide transformation. Their adoption decisions, influenced more by peer practices than innovation for its own sake, create momentum that pulls the entire industry forward.
The late majority and laggards, collectively representing 50% of the market, include traditional SME contractors, cost-sensitive segments, and rural developers who adopt new approaches only when economic or regulatory pressures make traditional methods untenable. Understanding these segments’ resistance factors – whether cost, complexity, or cultural inertia – is crucial for developing adoption strategies that address specific barriers rather than assuming uniform market receptivity.
Regulatory Framework and Compliance Landscape
The regulatory environment governing Sri Lanka’s construction industry reflects an evolving framework that balances development promotion with quality assurance and environmental protection. The Construction Industry Development Act No. 33 of 2014 serves as the cornerstone legislation, establishing CIDA as the primary regulatory body responsible for contractor registration, standards development, and industry promotion (CIDA, 2024).
The CIDA registration system, with its nine-tier grading structure from C1 to C9, creates a transparent framework for matching contractor capabilities with project requirements. This system, while adding administrative burden, serves important market-organizing functions by reducing information asymmetries between contractors and clients. The requirement for registration on projects exceeding Rs 10 million creates a formal sector floor that promotes professionalization while potentially excluding smaller operators from growth opportunities.
Environmental regulations add another layer of complexity to project planning and execution. The Environmental Protection License requirement for major projects, administered by the Central Environmental Authority, reflects growing awareness of construction’s environmental impact. Large projects must undergo Environmental Impact Assessments (EIA), adding 6-12 months to project timelines but ensuring systematic consideration of ecological consequences. This regulatory evolution, while increasing compliance costs, aligns with global trends toward sustainable development and creates opportunities for firms that develop environmental management expertise.
The voluntary nature of green building standards through the GREENSL® Rating System represents both a missed opportunity and a strategic choice. While mandatory standards might accelerate sustainable construction adoption, the voluntary approach allows market forces to drive adoption, potentially creating more genuine commitment than regulatory compulsion. The expectation that mandatory green building standards will emerge by 2027 suggests a regulatory trajectory that provides early adopters with first-mover advantages while giving laggards time to prepare.
Building codes, administered by the National Building Research Organisation (NBRO), continue evolving in response to climate change impacts and disaster experiences. The increasing frequency of extreme weather events necessitates more robust structural standards, particularly for coastal construction exposed to storm surges and flooding. This evolution creates opportunities for firms that develop expertise in climate-resilient construction while potentially increasing project costs by 5-10%.
Value Chain Economics and Profitability Analysis
The construction industry value chain reveals significant variations in profitability across different activities, creating strategic implications for vertical integration and specialization decisions. Design and engineering services, capturing approximately 6% of project value, generate EBITDA margins of 25-35%, reflecting the high-value-added nature of intellectual services. This profitability attracts competition from international firms, though local knowledge requirements and relationship importance provide domestic firms with defensive advantages.
Material supply, representing 48% of project costs, operates on thinner margins of 8-15% EBITDA, constrained by commodity characteristics and import dependence. The concentration in cement and steel supply creates oligopolistic dynamics that transfer value from contractors to suppliers, though strategic partnerships and volume commitments can partially mitigate this power imbalance. Successful contractors increasingly view material procurement as a strategic function requiring sophisticated risk management rather than simple purchasing.
Core construction activities, accounting for 38% of project value, generate moderate EBITDA margins of 10-15% for well-managed firms. These margins, while seemingly adequate, mask significant variations based on project type, client category, and execution efficiency. Government projects, despite payment delays, often provide more predictable margins due to standardized specifications and limited scope changes. Private sector projects may offer higher nominal margins but carry greater risks from design changes, accelerated schedules, and payment uncertainties.
Quality assurance and commissioning services, though representing only 3% of project value, command premium margins of approximately 20% EBITDA. This profitability reflects both technical expertise requirements and liability assumptions that create barriers to entry. As construction becomes more complex and clients more sophisticated, quality assurance grows in importance, suggesting expanding opportunities for specialized service providers.
The emergence of maintenance and after-sales services as a distinct value chain component reflects construction’s evolution from transactional to relationship-based business models. While currently nascent, predictive maintenance for smart buildings and long-term service contracts offer potential for recurring revenue streams that smooth cyclical construction demand.
Risk Landscape and Mitigation Strategies
The risk profile of Sri Lanka’s construction industry encompasses macroeconomic, operational, and strategic dimensions that require sophisticated management approaches. Currency fluctuation emerges as perhaps the most immediate risk, with 65% import dependence for steel and significant requirements for other imported materials creating systematic exposure to exchange rate movements. The rupee’s historical volatility, exemplified by the 2022 crisis, can transform profitable projects into loss-makers within months. Forward contracts covering 70% of import requirements represent a minimum hedging strategy, though the availability and cost of such instruments in Sri Lanka’s developing financial markets create additional challenges.
Natural disaster risks, heightened by climate change impacts, necessitate comprehensive insurance strategies for projects exceeding $10 million. The increasing frequency of extreme weather events, from flooding to droughts, creates both direct project risks and indirect impacts through supply chain disruptions. Sophisticated contractors increasingly price climate risks into project bids while developing operational resilience through diversified supplier networks and flexible project scheduling.
Material price volatility, distinct from currency risks, reflects global commodity cycles and local supply dynamics. The 40% potential variation in cement prices and similar volatility in steel create planning challenges that traditional fixed-price contracts struggle to address. Strategic supplier partnerships, potentially including equity stakes or long-term supply agreements, offer partial mitigation while requiring capital commitments that strain balance sheets.
Political risk, while reduced from civil conflict levels, persists through policy uncertainty and regulatory changes. The 94% government concentration in construction contracts amplifies this exposure, making diversification strategies essential despite their execution challenges. Cultivating private sector clients, exploring regional opportunities, and developing recession-resistant service lines represent portfolio approaches to political risk management.
Interest rate risk compounds other financial pressures, with potential 500 basis point variations creating 35-45% swings in financing costs. This volatility particularly affects contractors dependent on project finance or working capital facilities. Fixed-rate financing, while providing certainty, often comes at premium costs that erode competitive positioning. The optimal approach likely combines fixed-rate core funding with variable-rate flexibility for short-term needs.
Strategic Pathways for Market Success
The strategic options available to construction firms in Sri Lanka reflect classic build-versus-buy decisions filtered through local market realities. Building internal capabilities in BIM expertise and green building competencies represents a high-investment, high-control approach suitable for firms with patient capital and long-term vision. The 2-3 year payback period for technology investments requires financial resilience, while skill development timelines extend even longer. However, organic capability building creates sustainable competitive advantages difficult for competitors to replicate.
Partnership strategies offer faster market access with shared risks and investments. International technology providers bring proven solutions but may lack local context understanding. Joint ventures with foreign construction firms can accelerate capability development while navigating ownership restrictions. Strategic partnerships with material suppliers may secure preferential pricing and supply certainty. The challenge lies in structuring partnerships that align incentives while preserving sufficient value for all parties.
Licensing strategies work best for specific technologies or process innovations where internal development would be prohibitively expensive or time-consuming. Advanced construction software, prefabrication technologies, and specialized building systems represent licensing candidates. The key consideration involves ensuring sufficient market size to amortize licensing fees while preventing competitors from accessing identical capabilities.
Acquisition strategies can rapidly build scale and capabilities but require significant capital and integration expertise. Specialized subcontractors offer focused expertise and established client relationships. Equipment rental firms provide asset-light growth opportunities with attractive margins. Design firms enable movement up the value chain toward integrated project delivery. The fragmented market structure creates numerous acquisition targets, though quality assessment and cultural integration remain challenging.
Sustainability Integration and Market Positioning
The sustainability imperative in construction reflects both global trends and local necessities. Construction’s contribution of 10% to national carbon emissions creates policy pressure for improved environmental performance. Green buildings’ demonstrated 32% utility savings and 65% water reduction provide economic justification beyond environmental benefits (GBCSL, 2024). The government’s 70% renewable energy target by 2030 necessitates construction approaches that facilitate solar integration and energy efficiency.
Market positioning around sustainability requires authentic commitment beyond marketing rhetoric. GREENSL® certification provides third-party validation that resonates with sophisticated clients. Developing internal expertise in sustainable materials, energy modeling, and water management creates differentiating capabilities. Partnerships with environmental consultancies can accelerate capability development while providing project-specific expertise.
The social dimension of sustainability, often overlooked, offers additional positioning opportunities. Employment practices that develop local skills, safety programs exceeding minimum standards, and community engagement during construction create reputational advantages. As environmental, social, and governance (ESG) considerations gain prominence, contractors with demonstrated social responsibility may access preferential financing and client relationships.
Future Market Evolution and Strategic Imperatives
The construction industry’s evolution over the next decade will be shaped by technological transformation, sustainability requirements, and changing client expectations. Digital construction methods will transition from premium offerings to table stakes, forcing all market participants to develop minimum technological capabilities. The convergence of BIM, IoT sensors, and artificial intelligence will enable predictive construction management that minimizes delays and defects while optimizing resource utilization.
Prefabrication and modular construction, currently limited by transportation infrastructure and market acceptance, will likely gain momentum as labor costs rise and quality expectations increase. Early movers who develop design-for-manufacture capabilities and establish production facilities will capture premium margins before commoditization occurs. The challenge involves timing investments to coincide with market readiness while not being so late that competitive advantages evaporate.
Climate adaptation will shift from optional to essential as extreme weather events increase in frequency and severity. Contractors who develop expertise in resilient construction – from flood-resistant foundations to heat-reflective materials – will capture growing demand from risk-aware clients. This capability development requires collaboration with climate scientists, materials researchers, and insurance companies to understand and address evolving risks.
The regional integration agenda, though progressing slowly, suggests medium-term opportunities beyond Sri Lanka. As South Asian markets integrate and construction standards harmonize, firms with strong domestic positions can leverage expertise into regional expansion. Building relationships with regional partners, understanding regulatory variations, and developing scalable operational models position firms for international growth when opportunities emerge.
Market consolidation appears inevitable as technology requirements, sustainability mandates, and client sophistication create scale advantages. The current fragmentation with 2,500+ registered contractors cannot persist as margins compress and investment requirements increase. Successful firms will likely pursue roll-up strategies, acquiring specialized capabilities and client relationships while achieving operational synergies. This consolidation process, likely accelerating during economic downturns, rewards firms with strong balance sheets and integration capabilities.
Strategic Recommendations for Market Leadership
For Maga Engineering to establish market leadership, a phased approach balancing immediate imperatives with long-term positioning appears optimal. The immediate 2024-2025 period requires foundational investments in technology infrastructure and human capabilities. Establishing a BIM Center of Excellence creates an innovation hub while signaling market leadership in digital construction. Achieving GREENSL® accreditation provides differentiation in sustainability-conscious segments while developing internal expertise for future mandatory requirements.
The medium-term 2025-2030 strategy should focus on market share expansion in premium segments where technology and sustainability capabilities command pricing premiums. Targeting 5% market share in these segments appears ambitious but achievable given current market fragmentation. Vertical integration through equipment rental acquisition leverages the sector’s attractive 25-35% EBITDA margins while providing operational synergies. Geographic expansion to all four focus cities creates scale economies while diversifying market risks.
The long-term 2030-2034 vision positions Maga Engineering as a regional player with proprietary technology offerings. Expanding to South Asian markets leverages Sri Lankan expertise while accessing larger opportunities. Developing proprietary construction technology, whether in project management software or specialized building systems, creates scalable revenue streams beyond traditional contracting. Achieving carbon-neutral operations positions the firm for a future where environmental performance determines market access.
Implementation success requires careful attention to organizational capabilities and market timing. Financial strength, evidenced by maintaining 35% working capital to revenue ratios, provides resilience during volatile periods. Technology adoption must balance leading-edge innovation with practical implementation, avoiding bleeding-edge investments that lack market support. Government relationships, crucial given 94% public sector concentration, require systematic cultivation through performance delivery and regulatory compliance.
The competitive differentiation opportunities in green building excellence, technology integration, and integrated project delivery create sustainable advantages difficult for competitors to replicate. However, success requires genuine capability development rather than superficial positioning. The construction industry’s relationship-based nature means reputation builds slowly through consistent delivery but can be destroyed quickly through project failures.
Risk management must evolve from reactive to proactive approaches. Sophisticated hedging programs for currency and commodity exposures protect margins while enabling competitive pricing. Comprehensive insurance strategies transfer catastrophic risks while internal controls manage operational risks. Diversification across client segments, project types, and geographic markets reduces concentration risks though potentially sacrificing specialization economies.
The human capital dimension often determines construction success more than financial or technological resources. Developing internal training academies addresses industry-wide skill shortages while creating employee loyalty. Partnerships with universities ensure pipeline of educated professionals while research collaborations drive innovation. Creating learning cultures that embrace change rather than resist it enables successful navigation of industry transformation.
Market success ultimately requires balancing multiple stakeholder interests. Shareholders expect returns commensurate with construction risks. Employees need stable employment with development opportunities. Clients demand quality delivery within budgets and timelines. Communities expect responsible construction practices minimizing disruption. Regulators require compliance with evolving standards. Successfully balancing these sometimes-competing demands distinguishes market leaders from merely competent operators.
The Sri Lankan construction industry stands at an inflection point where traditional approaches no longer suffice for market success. Technology adoption, sustainability integration, and sophisticated risk management represent table stakes rather than differentiators. Success requires vision to anticipate market evolution, courage to invest ahead of the curve, and execution excellence to deliver promises. For prepared firms like Maga Engineering, the next decade offers unprecedented opportunities to shape Sri Lanka’s built environment while building enduring competitive advantages.
References
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CIDA (2024) ‘Registration and Grading Scheme’, Construction Industry Development Authority. Available at: https://www.cida.gov.lk/sea_con/pages_e.php?id=124
Daily News (2025) ‘FITIS committed to achieving USD 15 Bn digital economy goal by 2030’, Daily News, 16 June. Available at: https://www.dailynews.lk/2025/06/16/business/796731/
Economy Next (2023) ‘Sri Lanka cement to fall Rs300-Rs500 per bag after rupee appreciation: Minister’, Economy Next. Available at: https://economynext.com/sri-lanka-cement-to-fall-rs300-rs500-per-bag-after-rupee-appreciation-minister-122541/
GBCSL (2024) ‘Green Rating System For Built Environment’, Green Building Council of Sri Lanka. Available at: https://www.srilankagbc.org/green-rating-system-for-built-environment/
Global Cement (2024) ‘Tokyo Cement Company (Lanka) – Cement industry news’, Global Cement. Available at: https://www.globalcement.com/news/itemlist/tag/Tokyo%20Cement%20Company%20(Lanka)
PR Newswire (2023) ‘Sri Lanka Construction Industry Databook Series Q1 2023 Update: Sector to Grow at 7.6% Annually Through 2027’, PR Newswire, 23 February. Available at: https://www.prnewswire.com/news-releases/sri-lanka-construction-industry-databook-series-q1-2023-update-sector-to-grow-at-7-6-annually-through-2027–301752982.html
ResearchGate (2023) ‘Open BIM Adoption in Sri Lankan Construction Industry’, ResearchGate. Available at: https://www.researchgate.net/publication/338605939_Open_BIM_Adoption_in_Sri_Lankan_Construction_Industry
The Morning (2024) ‘Challenges to investing in land in Sri Lanka’, The Morning. Available at: https://www.themorning.lk/articles/kaY8mPcqmGLNi2kshEBL
