Prime Residencies, The listed residential and condominium arm of Prime Group, has spent three decades building what Shehana Brahmanage, Executive Director at Prime Group, describes as a relationship more than a brand. “We were founded in 1995, so we have had 30 years of experience to get to where we are today,” she explains, tracing the company’s roots back to its parent, Prime Lands, and its origins as a land development business. From those humble beginnings, the group has completed and handed over more than 70 gated housing and condominium projects, expanding beyond Sri Lanka into Melbourne, Dubai & The USA.
Brahmanage does not believe longevity alone explains the brand’s staying power in an industry where many emerge quickly and fade at the same rate. The answer, she says, lies in a set of values that have remained constant even as the company has grown in scale and geography. “Although we’ve grown, we have always been true to our core beliefs, our core values, which has been trust, strong financial discipline, value for money, and then of course, providing great customer care and customer service, and also quality in everything that we do.”
Trust, in particular, is treated as a product whose value must be obvious to customers. “It’s not something you talk about. Trust is not something you have big campaigns about. Trust is something that has to be earned,” she says. “And we’ve been earning this for the last 30 years, and we will continue to do so in our future endeavours as well.” Alongside that, Brahmanage points to a second discipline: staying attuned to what the local market actually wants, rather than importing ideas wholesale. Prime builds for Sri Lanka & for Sri Lankans, she says, making customers the centre of its attention. As buyer lifestyles and aspirations have shifted over the years, the company has tried to evolve alongside them, innovating through new projects, new payment structures, and new financial solutions.
Built Through Crisis
Trust was tested most severely in recent years, as Sri Lanka’s real estate and construction sectors felt the shock of interest rate hikes, currency volatility, and construction costs that Brahmanage says escalated “from single to double digit numbers.” The financial crisis, layered on top of the Easter attacks and the COVID-19 pandemic, created what she recalls as a challenging period for all the developers in Sri Lanka. She is candid that not every developer made it through intact. Only those with financial discipline and corresponding expertise were able to make it through intact.
Prime’s response was to hold firm on two commitments, even as conditions around it kept shifting. “One thing that we will never compromise is the quality and the other is our financial discipline,” she says. The company had already committed to several projects before the crisis hit, which meant managing costs without compromising on the quality standards it holds itself to. Where it could, Prime also tried to stay transparent with buyers throughout, keeping them informed on construction progress. Deadlines were pursued as closely as possible as well.
Prime Grand Ward Place stands out as a result of this approach. “It went through one of the testiest time periods in the Sri Lankan real estate sector,” Brahmanage notes, having been built through the Easter attacks, the pandemic, and the financial crisis in succession. Despite that, the company delivered. “We have a very strong team behind us. We have a very strong board behind us. So, with that in mind, we were able to hand over this project without compromising on any of those factors. And today, it is a fully sold-out project,” she says.
Today, this scarcity of available units means owners still enjoy being able to sell or rent apartments with little hassle. In her eyes, this shows how the trust extended to Prime during the hardest years is still paying dividends for buyers today.
A Portfolio for Every Buyer
Prime views its actions more like a spread across the market than a single, narrow strategy. “The beauty of Prime, as a group, is that we cater to every segment of the property market—from the ultra-luxury segment to the mid-tier segment. This enables us to meet the diverse needs and preferences of a broad range of customers.” Brahmanage explains. “We want to make home ownership more accessible while doing that.”
That segmentation is a direct response to a buyer base that has become far more varied. “Now you have young families, young professionals, growing families, Sri Lankan diaspora, expats who want to return home,” she says each customer segment has distinct aspirations, financial capacities, and lifestyle preferences. Therefore, our projects are carefully tailored to address the unique requirements and expectations of each market segment.”
The Elizabeth, in Colombo 7, comprises around 200 apartments that she says Prime deliberately calls “heirlooms, because we believe it is something that can be passed from one generation to another,” reflecting the scarcity of land in one of Colombo’s most prestigious districts. It follows The Grand Ward Place as the next major development to arrive in that particular postcode. The Golf, overlooking the Royal Colombo Golf Course in Colombo 8, is smaller still, at 66 residences aimed at an entirely different kind of buyer.
The Prime Colombo, in Colombo 9, sits at the more accessible end of the spectrum. Commuters want to spend less time travelling, according to Brahmanage. Being close to schools was a similar concern. 2- & 3-Bedroom apartments here start at around Rs45 million, available through a 4-year payment plan, and Brahmanage points out the site faces Baseline Road. The development sits within walking distance of several schools, and likewise borders Colombo 7 and Colombo 8.
Financing the Ladder
Prime pioneered the financing innovation that enables this accessibility. Following the debut of its Prime 1% payment plan, Brahmanage says other companies and institutions have followed suit with their own products. “A lot of banks also followed suit,” she says. “And now you have even better payment plans where banks offer zero down payments.” What started as a Prime product became a market standard that made home-ownership an easier goal for customers across the industry.
“We have always had confidence in our judgement when selecting locations. What’s even more rewarding is that our clients and investors have come to place the same level of trust in our decisions.”
The wider effect on buyer demographics has been significant. The customer of 10 years ago who was able to afford a large down payment for a property is gone, replaced by younger professionals in their “late 20s, early 30s, and 40s,” according to Brahmanage, thanks partly to such flexible payment structures.
Beyond fulfilling the fundamental need for housing, real estate has evolved into one of the most effective vehicles for long-term wealth creation. Today’s buyers are no longer motivated solely by the desire to own a home; they are also looking to build financial security and create lasting wealth through strategic property investments. They recognise the potential for sustained capital appreciation, attractive rental yields, and the opportunity to generate passive income while benefitting from the long-term growth of the property market.
What makes today’s market particularly significant is that these opportunities are no longer limited to high-net-worth individuals. Innovative payment plans, improved access to financing, and a wider range of property offerings have made real estate investment accessible to younger professionals and first-time buyers. A decade ago, many of these buyers would have found property ownership and investment beyond their financial reach. Today, they have the opportunity to begin building wealth much earlier in life, positioning real estate as both a lifestyle choice and a long-term investment strategy.”
The Instinct for Land
Brahmanage’s description of Prime’s strategy includes its approach to site selection: buying land before an area has fully emerged as desirable. “Every iconic development starts with the right piece of land and acquiring it at the right price. At Prime, identifying exceptional locations has always been part of our DNA, ensuring that every project delivers lasting value for both homeowners and investors.” she says. That company-wide instinct, developed over 10,000+ land projects all across the country and supported by a dedicated land purchasing team, has repeatedly put Prime ahead of the wider market.
MON VIE Colombo 5
In turn, this skill delivers value to customers. Brahmanage points out that both investors & customers and end users quickly benefit from the appreciation that accompanies a particular project due to the ability of identifying the perfect land location for right or correct price.
The Palace, a 15-acre planned community in Gampaha, is one result, described by Brahmanage as, “The biggest planned community to happen in Gampaha,” sitting just 100 metres from Kandy Road. The company has already handed over more than 350 apartments where deeds can also now be executed. The Colombo Border, visible as three towers rising along the Katunayake Expressway, followed the same instinct. Prime recognised the site’s potential years ago, according to Brahmanage, and its roughly six and a half acres is planned to be ready for occupancy from mid-2027 onwards. Today, only a few apartments remain available for purchase due to high demand, starting at an attractive Rs45 million.
The Elizabeth Colombo 7
The Prime Colombo, located in Colombo 09, is another example of Prime’s ability to identify high-potential locations well ahead of the market. The land was acquired at an early stage, at a time when the area along Baseline Road was largely overlooked by other developers. While many failed to recognise its long-term potential, Prime identified the location’s strategic value and future growth prospects, enabling the company to secure the land at a highly competitive price.
“At the time, there were no developments of this scale in the area. By acquiring the land early and at the right value, we were able to pass those cost advantages directly to our clients while delivering a premium development in a rapidly emerging location,” explains Brahmanage.
She notes that this ability to consistently make the right location decisions has become one of Prime’s defining strengths. “We have always had confidence in our judgement when selecting locations. What’s even more rewarding is that our clients and investors have come to place the same level of trust in our decisions. They know that when Prime chooses a location, it is backed by careful market research, long-term vision, and a commitment to creating lasting value,” she says.
Port City and the Marina
This is a project where 2 Sri Lankan powerhouses, Prime group and Melwa came together.
Nowhere is this land strategy more visible than at Port City, where Prime holds what it considers the most valuable real estate in the development: a parcel on the marina front, which also happened to be the last one available. The wider project, she notes, is nearly sold out, and across its various Port City developments, Prime now holds around 16 acres in total.
The Prime Colombo – Colombo 9
Around the marina parcel specifically, the company has built Prime Marina, a project she describes as always having been conceived with a larger scope. “The Port City project was never supposed to be about Sri Lanka alone,” she remarks. “It was always envisioned to take Sri Lankan real estate to the world.” Notably, this has been the company’s message in its annual reports for several years running. Brahmanage sees the current global moment as particularly favourable to that ambition, pointing to investor sentiment shifting away from the Middle East amid ongoing regional instability. This, she believes, makes it an opportune time for Sri Lanka’s real estate industry as a whole to draw in foreign investors.
MON VIE Colombo 5
To bring Prime Marina to life, the company assembled a consultancy team, including principal architects from Singapore working alongside Prime’s own local architect, plus interior designers are also based in Singapore. Landscaping was handled by architects from England who were previously behind the Gardens by the Bay, Singapore, a team she says is generally drawn only to projects with genuine global ambition. That ambition, she adds, is reinforced by Sri Lanka’s broader rise on the international stage, including its recent recognition as a top wellness destination, which she says is already translating into stronger demand from foreign buyers across several of Prime’s coastal projects in addition to Port City.
Technology Without Losing the Human Touch
As Prime’s buyer base has become more international, spanning Australia, Dubai, the UK & the USA the company has leaned on technology to close distance without losing intimacy. Buying a home, Brahmanage says, is one of the most emotional decisions anyone can make, so innovation at Prime was geared to preserve the human element in that process. The goal has been to make processes faster and more efficient while giving customers a human touchpoint whenever the need arises. That philosophy shows up across a suite of tools. Prime Bee, the company’s AI chatbot, is available to buyers regardless of time zone, even at midnight locally, with enquiries routed to a dedicated call centre staffed by Sri Lankan real estate specialists, reachable through the hotline 1322. The Prime Edge App consolidates reservations and payments in one place, so clients are not required to repeat themselves each time they get in touch, while a DFCC payment integration reconciles transactions instantly and issues receipts automatically rather than leaving clients to chase them down.
J’Adore Negombo
The point of all of it, she says, is invisibility. Most clients probably do not even notice these systems working, but that, in her view, is exactly what good technology should do: make everything seamless without drawing attention to itself. That matters more than ever, she adds, given how globally dispersed Prime’s client base has become, and how accustomed those buyers now are to getting things done instantly by being allowed virtual walkthroughs from overseas markets to seamlessly navigate project information without being physically present in the country.
A More Sophisticated Buyer
Brahmanage is candid about just how much buyer expectations have matured over the past decade, extending well beyond financing structures into how buyers evaluate developers themselves. Customers today, she says, are far more sophisticated, and they know which questions to ask. Where buyers once focused almost entirely on the development itself, they now scrutinise the developer too, a shift she attributes to hard lessons learned elsewhere in the market, including buildings left half-finished or handed over without the correct approvals in place.
The questions buyers now bring to the table have changed accordingly. They want to know what happens after handover, whether the developer will still be there and willing to help, what financial backing stands behind the company, and what maintenance support looks like in practice.
Prime’s answer is a maintenance commitment that extends well past the industry norm. While Sri Lanka’s standard defect liability period runs for one year, Brahmanage says the company continues supporting clients long after that window closes. In some cases, this means customers receiving help up to two, three, or even five years on. The decision hinges on whether the problem is something Prime can resolve. She points to this as part of the company’s DNA; another reason it continues to offer the 24-hour maintenance hotline.
The rationale, she says, comes back to the same idea. Buying a home is often an emotional act, but what people are really buying is peace of mind. Capital appreciation and rental yields matter, she acknowledges, but everything comes back to that same reassurance, and it is that promise, more than any single project or price point, that she believes has carried the brand across three decades of change.
The Next Ten Years
Asked to look a decade ahead, to a point where Prime Group will mark over 40 years in business, Brahmanage’s answer is consistency and staying true to their values. She hopes that a decade from now, Prime Group will not only be recognised within Sri Lanka but will be seen globally as the pioneer that took Sri Lankan real estate to the world.
The company already has over 16 acres of prime real estate within Port City itself. Port City, she says, has already given the company its clearest path to pursue that ambition, describing it as the project that allowed Prime to make its biggest impact yet on that front. But the vision extends well beyond that single development, taking in projects across mainland Colombo and further afield, including coastal developments such as J’Adore Negombo and Venezia, part of a broader portfolio of hospitality-led, oceanfront properties that Brahmanage says are drawing strong interest from foreign buyers looking to own a home in Sri Lanka.
The endgame, as she frames it, is bigger than any single company milestone. She envisions Sri Lanka exporting real estate to the world much as Dubai does, with stronger foreign investment translating directly into national benefit, creating jobs and opportunities for Sri Lankans more broadly. For Brahmanage, 30 years of earned trust go further than offering the story of how Prime Residencies built its brand. They are, in her telling, the foundation on which she hopes an entire industry, and by extension the country itself, can build its next chapter.