Colombo Land and Development Company PLC

What Colombo Land and Development Company PLC does

Colombo Land and Development Company PLC (CLDC) is a publicly listed Sri Lankan real estate investment and property development company, incorporated in 1981 and listed on the Colombo Stock Exchange in 1986 under ticker CLDC. Its principal business is the development and leasing of investment property under operating leases, with Liberty Plaza — a Colombo Central Business District shopping mall operating for over 30 years and containing 83 retail shops, 10 office and apartment units, and over 176,000 square feet of lettable space — as the primary revenue driver. The company completed an amalgamation with Liberty Holdings (LHL) in January 2026, consolidating the broader Liberty group under CLDC.

The company operates a diversified but geographically concentrated portfolio across four asset categories: retail and office leasing at Liberty Plaza and the New Retail Podium (~80,000 sq ft across 28 units opened in 2015); car park operations at Liberty Plaza (250+ car and 100+ motorcycle slots), Gasland (~3 acres in Pettah used as a distribution hub for traders), and People's Car Park (185 vehicle and 80 motorcycle slots, refurbished in 2021 with solar-ready roofing); and a 102-acre Mahogany, Rubber and Alstoniya plantation at Avissawella operated through wholly owned subsidiary Agri Spice (Pvt) Ltd. Liberty Developers and Liberty Holdings are also wholly owned subsidiaries.

Revenue is generated through recurring rental income from retail, office, and apartment tenants on operating leases, hourly/daily parking fees, and agricultural production from the plantation. The go-to-market is direct leasing with no disclosed pricing; the company markets through its corporate website and Colombo Stock Exchange disclosures, and sells primarily to retail tenants, office occupants, traders needing distribution infrastructure, and vehicle owners seeking CBD parking. The board includes directors with interconnections to George Steuart Group entities and recent appointments of senior figures from the Urban Development Authority, signaling alignment with national urban development priorities in advance of planned Pettah redevelopment.

Name

Colombo Land and Development Company PLC

Legal name

Colombo Land and Development Company PLC

Website

http://www.colomboland.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

11–50 employees

Short description

Colombo Land and Development Company PLC is a Sri Lankan CSE-listed real estate firm that develops, owns, and leases commercial property in Colombo's CBD — principally Liberty Plaza mall, the New Retail Podium, and multiple car parks — and operates a plantation through subsidiary Agri Spice. It serves retail tenants, office occupants, traders, and vehicle owners.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Leasing

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Specialty & Entertainment Venue Property Management (BPAJAGAO)

akta.pro secondary industry

Parking Facilities Property Management (BPAJAGAN)

Keywords

• Commercial property leasing
• Real estate development
• Shopping mall operations
• Car park operations
• Investment property management

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain

Revenue model

1. Commercial Property Leasing: Leasing of retail shops, office spaces, and apartments at Liberty Plaza and New Retail Podium. The company holds 83 shops, 10 office and apartment units covering over 176,000 square feet at Liberty Plaza, and approximately 80,000 square feet of rentable area (28 units) at New Retail Podium.
2. Car Park Operations: Rental of vehicle car parks at Liberty Plaza (5 levels, over 250 cars and 100 motorcycles) and Pettah locations including Gasland (nearly 3 acres) and People's Car Park (185 vehicle slots and 80 motorcycle slots). Revenue generated from hourly/daily parking fees.
3. Plantation Operations: Agri Spice (Pvt) Ltd operates a 102-acre Mahogany, Rubber and Alstoniya plantation at Avissawella, generating revenue through sustainable agricultural production.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Colombo Land and Development Company PLC develops, owns, and leases commercial investment property in Sri Lanka, principally operating Liberty Plaza shopping mall (83 shops, 10 office and apartment units over 176,000 sq ft) and New Retail Podium (28 units, approx. 80,000 sq ft). It also directly operates vehicle car parks at Liberty Plaza, Gasland in Pettah, and People's Car Park, and through wholly owned subsidiary Agri Spice (Pvt) Ltd runs a 102-acre Mahogany, Rubber and Alstoniya plantation at Avissawella.

Product overview

Colombo Land and Development Company PLC operates as a real estate investment and property development company with a portfolio of commercial properties in Sri Lanka. The company offers a unified property portfolio consisting of retail mall operations (Liberty Plaza), additional retail podium space (New Retail Podium), car park facilities (Gasland Car Park and People's Car Park), and agricultural plantation assets (Agri Spice Plantation). The core business model centers on developing, leasing, and managing commercial real estate properties, with investment property leasing at Liberty Plaza as the primary revenue driver.

Differentiator

Problem solved

Functional benefit

Products and services

• Liberty Plaza A shopping mall featuring 83 shops, 10 offices and apartments covering over 176,000 square feet, with 5 levels of car park operations accommodating over 250 cars and 100 motorcycles, leased to retail and commercial tenants.
• New Retail Podium A retail property with approximately 80,000 square feet comprising 28 units, leased to local and international brand outlets in Colombo.
• Gasland Car Park A nearly 3-acre car park and distribution hub in the heart of Colombo used chiefly by traders transporting goods into the city; described as the highest value investment property the group holds.
• People's Car Park A rooftop car park above the People's Park shopping complex offering 185 vehicle parking slots and 80 motorcycle slots, with a newly built roof accommodating solar power panels as a renewable energy source.
• Agri Spice Plantation A 102-acre Mahogany, Rubber and Alstoniya plantation operated by subsidiary Agri Spice (Pvt) Ltd at Avissawella, reflecting CLDC's commitment to sustainable development in environment-friendly sectors.

Quantifiable outcome

• Over 176,000 sq ft of commercial space under management
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• George Steuart Group (Related Entities)coreOthers · 8 December 1981The company has board-level connections with George Steuart Group entities. Mr. S A Ameresekere serves as Group Executive Director of George Steuart & Company Ltd (Sri Lanka's oldest business entity established in 1835) and holds directorship positions at CLDC. George Steuart Solutions is mentioned as related entity for business development purposes.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Overseas Realty (Ceylon) Ltd: Sri Lankan commercial real estate company that owns and operates the World Trade Center Colombo and adjacent premium office and retail space. Closest comparable to CLDC in terms of single-jurisdiction CBD commercial property ownership and leasing model in Colombo.

Broad incumbents

• John Keells Holdings PLC: Largest Sri Lankan conglomerate with a meaningful real estate and property development arm (including 'The Union Place' and other Colombo mixed-use projects) alongside consumer, leisure, and logistics businesses. Comparable as a diversified Sri Lankan incumbent with significant Colombo property exposure.
• Hemas Holdings PLC: Sri Lankan diversified conglomerate with a consumer-products core and selectively invested property portfolio. Comparable as a broader Sri Lankan group operating commercial real estate within a wider conglomerate structure.
• Aitken Spence PLC: Sri Lankan conglomerate with hotel, tourism, and property development operations. Comparable as a long-standing Colombo-based group with property and real estate assets alongside broader hospitality and logistics holdings.
• Richard Pieris & Company PLC: Large diversified Sri Lankan group with rubber, plantation, retail (Arpico), and property interests. Comparable to CLDC given the overlap in plantation/agri operations and commercial real estate holdings within a single Sri Lankan conglomerate.
• LOLC Holdings PLC: Sri Lankan diversified holding company with financial services, leisure, and property interests. Comparable as a large Sri Lankan group with selective commercial real estate investments alongside a much wider non-property portfolio.
• Vallibel One PLC: Sri Lankan diversified holding entity with interests in manufacturing, plantations, and property. Comparable as a Colombo-listed holding company with overlapping plantation/real estate exposure.
• CT Holdings PLC: Sri Lankan holding company with operations across consumer products, property, and financial services. Comparable as a small-cap Colombo-listed diversified group with real estate holdings.

Others

• Citizens Development Business Finance PLC: Sri Lankan licensed finance company with selective property and investment holdings. Comparable as a Colombo-listed entity with overlapping real estate investment activity, though financial services is its core.

Regional players

• Eden Hotel Lanka PLC: Sri Lankan hospitality and property company. Comparable as a Colombo-listed entity operating real estate assets, though focused on hospitality rather than retail mall leasing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/colombo-land

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Colombo Land and Development Company PLC