Our History
Committed to Creating a Better Place on Earth
Founded 30 years ago with just four employees, Prime Lands (Pvt) Ltd began with a clear purpose: “Committed to Creating a Better Place on Earth.” From these modest beginnings, the company has constructed itself into one of Sri Lanka’s most respected names in real estate, powered by ambition, resilience, and a deep understanding of local communities.
With the founding four, Prime Group’s rise to land-development leadership was anchored by focused market insights, an enduring financial discipline, and innovative market approaches. These qualities continue to set the company apart, marking a steady growth.
Through its subsidiary, Prime Residencies, the Group then expanded into housing and condominiums – bringing the bleeding edge of technology and reliability to Sri Lankan homes. Today, Prime Group proudly offers a diverse range of housing projects and apartment complexes in prime urban locations, redefining lifestyle residences along with the industry of real estate.
2025
Landmark Growth and Innovation in 2025
In 2025, Prime Residencies secured Board of Investment (BOI) approval for the USD 65 million Colombo Border mega project, reinforcing its commitment to transparency and investor confidence. The company also introduced luxury tourism-oriented serviced apartments, blending hotel comforts with flexible living to capitalise on rising tourism demand. Additionally, Prime Residencies launched groundbreaking payment plans — the 1% monthly plan and Prime Max — making homeownership more accessible and affordable while unlocking new wealth-building opportunities for buyers.
2024
Expansion Through New Incorporation
In 2024, Prime Constructions (Private) Limited was incorporated as a sister company of Prime Residencies PLC, marking a strategic move to strengthen construction capabilities within the group.
2023
Modernising Operations with Technology
Prime Residencies enhanced its efficiency and agility by completing the migration to a cloud-based SAP ERP system, modernising its IT infrastructure to support future growth and innovation.
2022
Strategic Expansion through Acquisition
Prime Residencies expanded its portfolio by acquiring the Real Estate Arm of Prime Finance PLC, strengthening its position in the property development market and broadening its capabilities.
2021
Going Public
Prime Residencies took a significant step forward by launching its Initial Public Offering and listing on the Diri Savi Board of the Colombo Stock Exchange as Prime Residencies PLC, opening new opportunities for growth and investment.
2016
Strengthening Through Amalgamation
In 2016, Prime Residencies (Private) Limited amalgamated with Prime Homes (Private) Limited and Living Homes (Private) Limited, unifying their strengths to create a more robust and streamlined property development entity.
2015
Company Rebranding
In 2015, the company underwent a strategic rebranding, changing its name to Prime Residencies (Private) Limited, reflecting its dedicated focus on residential property development.
2005
Foundation of Prime Residencies
In 2005, Prime Homes International (Private) Limited was established as a fully owned subsidiary of Prime Lands (Private) Limited, marking the official incorporation and the beginning of Prime Residencies’ journey in the property development sector.
