The Commercial Bank of Ceylon, the market leader in Sri Lanka’s home loans sector, has reaffirmed its commitment to support Sri Lankans fulfil their dream of home ownership by signing a Memorandum of Understanding (MoU) with Home Lands Skyline (Pvt) Ltd., to offer convenient loan facilities for condominium units and gated houses developed by the company.
Under this agreement, Commercial Bank will finance up to 100% of the purchase price of properties offered by Home Lands Skyline, through tripartite agreements that ensure enhanced security and convenience for buyers.
Commercial Bank has been serving Sri Lankans in the home loans sector for many years with a portfolio strengthened by a wide range of flexible repayment options, competitive interest rates and industry-leading service standards.
Commenting on the new partnership, Mr Sanath Manatunge, Managing Director/CEO of Commercial Bank said: “Our objective is to expand home ownership opportunities for Sri Lankans by working with trusted developers. This partnership with Home Lands Skyline allows us to serve a broader base of customers and reach diverse segments, while continuing to grow our housing loan portfolio.”
Mr. Nalin Herath, Chairman/Managing Director of Home Lands Group, added: “We are happy to further strengthen our long-standing partnership with Commercial Bank through this initiative. It enables us to widen opportunities for aspiring homeowners and investors seeking high returns, while continuing our mission to create modern lifestyle spaces that enhance the way people live.”
Home Lands, Sri Lanka’s number one and most trusted developer, is widely recognised for its resort-style luxury residential developments. The market leader in real estate, Home Lands has delivered over 3,200 residential units across multiple themed mega residential complexes and has over 2300 units currently under construction across eight futuristic mega residential projects. The company has earned multiple international accolades, including consecutive Best Developer – Sri Lanka awards at the PropertyGuru Asia Property Awards.
With a global footprint and offices established in Australia and Dubai, UAE, Home Lands has achieved full integration through its unique business model, operating as a conglomerate of 12 companies, including its own construction company which has obtained the highest CS2 grading from the Construction Industry Development Authority of Sri Lanka (CIDA). Guided by a strong set of values, Home Lands continues to drive trust, innovation, and excellence in the property sector.
The first Sri Lankan bank with a market capitalisation exceeding US$ 1 billion, Commercial Bank is the market leader in Sri Lanka’s home loans sector. It was also the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.
Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
Photo caption:
Mr. Sanath Manatunge, Managing Director/CEO of Commercial Bank, exchanges the agreement with Mr. Nalin Herath, Chairman/Managing Director of Home Lands, in the presence of Ms. Harshani Inoka Kumari Madola Herath, Director, and Ms. Dinithi Amaya Herath, Executive Director of Home Lands and representatives of Commercial Bank.
