TATOC executive chairman and CEO Harry Taylor was guest speaker at a major seminar held by the Institute of Valuers, which took place in the Sri Lankan capital, Colombo, from April 25-26.
The international public seminar considered property development and investment in real estate in the country since the cessation of the terrorist war in 2009 and the lifting of adverse travel advisories.
Speaking on Saturday, April 25, Harry Taylor shared his experience and knowledge of the global timeshare industry with delegates.
Property Development in Sri Lanka
It is believed by many that property development is set to leap forward into new dimensions, especially as the West emerges from recession and because of the forward-thinking steps taken by the Sri Lankan government.
Under-utilised land has been released in urban areas for property developers under strategic planning by the UDA and a huge spree of development is expected in the near future.
The Institute of Valuers believes there are many areas of property development and investment which have not yet been tapped including the concept of timeshare which is believed can assist the development of the tourist industry as well.
Real Estate in Sri Lanka
The other concept is real estate investment trusts (REIT) which is also well established in the U.K., Hong Kong and Australia.
The seminar focused on both these potential forms of property investment and considered to see what extent Sri Lanka can adapt these concepts to enhance the quality of property development.
TATOC was contacted six months ago and asked to assist as overseas experts at the seminar. it is believed that the advice, information and knowledge of Harry Taylor will be able to benefit property developers and investors by stimulating analytical thinking and enhancing the quality and accuracy of their decision making.
Also speaking at the conference was Chris Allen and P. Balachandran from TATOC affiliate Hutchinson & Co Trustee Company.
Currently, there are just two timeshare resorts for sale in Sri Lanka – the Babylon Resort Hotel in Kandy and the Oasis in Hambantota which are both affiliated to RCI.