IJVR Associates

What IJVR Associates does

IJVR Associates (Pvt) Ltd is a Sri Lankan professional valuation and real estate consultancy firm headquartered in Kaduwela, near Colombo, formally incorporated in 2016 by chartered valuer Vlr.W.A.T.I.P. Jayathilake (FRICS). The firm provides property valuation services (mortgage, financial reporting, plant and machinery, timber, visa-purpose, and selling-purpose valuations), real estate advisory (feasibility studies, project management, legal/regulatory dispute resolution), property management, and property brokering. Its core technology stack consists of a GIS survey application for property data collection, a Fixed Assets software for IFRS/LKAS-compliant asset valuations, and a proprietary database of Maldives island resort valuations supporting IFRS fair value measurements for hospitality clients.

The firm operates a sales-led B2B professional services model, generating revenue through per-engagement professional service fees. Its primary go-to-market channel is empanelment as a panel valuer with 15+ major Sri Lankan banks and financial institutions (Bank of Ceylon, Commercial Bank, Seylan Bank, Sampath Bank, NDB, People's Bank, SDB Bank, and others), which provides a recurring demand base for mortgage and collateral valuations. Corporate clients span insurance (Ceylinco General Insurance), hospitality (Bonsai Royal Hotel, Bodufaru Beach Resort in Maldives), and manufacturing (Lion Brewery, JAT Holdings), with international validation via review engagements for Knight Frank UAE. The firm employs approximately 20 staff including qualified valuers, trainees, and specialized engineering consultants, and was recognized with the South Asian Partnership Summit & Business Excellence Awards 2022. Pricing is quote-based and not publicly disclosed, varying by property type, complexity, and purpose.

IJVR has expanded beyond Sri Lanka into the Republic of Maldives since 2019 and has stated intentions to enter additional SAARC and GCC markets. Its competitive positioning rests on chartered-surveyor credentials (RICS Fellow, IVSL membership), longstanding bank panel relationships, and niche specialization in Maldives resort valuations — a defensible but small-scale operation in a market dominated by global valuation firms.

Name

IJVR Associates

Legal name

IJVR Associates (Pvt) Ltd

Website

https://ijvr.lk

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

IJVR Associates is a Sri Lankan chartered valuation and real estate consultancy firm providing property valuations, real estate advisory, and brokering services to banks, financial institutions, corporates, and government, with specialized Maldives island resort valuation expertise and panel status across 15+ major Sri Lankan banks.

Ownership category

akta.pro rank

Product category

Real Estate Valuation Services

NAICS

Offices of Real Estate Appraisers (53132)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro industry

PRIMARYBPAHANAC

Real Estate Valuation & Appraisal

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/Valuation, Appraisal & Forensic Services

SECONDARYBPAJANAE

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Advisory & Consulting (Investment, Strategy)

SECONDARYFSAEAJAI

Real Estate Valuation & Appraisal Advisory

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Real Estate Advisory & Brokerage

SECONDARYBPAJAKAH

Machinery & Equipment / FF&E Valuation (for Real Estate Context)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Valuation & Appraisal Services

Keywords

• Property valuation services
• Real estate advisory
• Asset appraisal
• Mortgage valuation
• IFRS fair value measurement

Headquarters

HQ city

Kaduwela

HQ country

Sri Lanka

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Valuation Services: Professional valuation services including mortgage valuations, financial reporting valuations, timber valuations, visa purpose valuations, machinery valuations, and valuations for selling purposes. Revenue generated through professional service fees per valuation engagement.
2. Real Estate Advisory Services: Advisory services including legal and regulatory dispute resolution, financial reporting advisory, comparative market analysis, property condition reports, feasibility studies, project management, and auction services.
3. Property Management: Property management services including access permissions for requests, problem management, contract management, and asset solutions.
4. Property Brokering: Real estate transaction services for buying, selling and renting properties with value-added consultancy.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

IJVR Associates provides professional property and asset valuation services for mortgage, financial reporting, plant & machinery, timber, visa-purpose, and selling purposes, alongside real estate advisory (feasibility studies, project management, market analysis, dispute resolution), property management, and property brokering. Services are delivered under RICS standards primarily to banks, financial institutions, corporates, and individual property owners across Sri Lanka and the Maldives.

Product overview

IJVR Associates (Indika Jayathilake Valuation and Real Estate) is a professional valuation and real estate consultancy firm offering a comprehensive suite of services. The core offerings include Valuation Services (covering mortgage, financial reporting, machinery, visa, and selling purposes), Real Estate Advisory Services, Property Management, and Property Brokering. The firm has developed specialized expertise in Maldives Island Resort valuation with IFRS fair value measurements. Additional services include Plant and Machinery Valuation, Desktop Valuation, Valuation Report Review, LKAS 16 Revaluation Services, Auction Services, Feasibility Studies, and Project Management. The company also produces Research & Insights publications on construction costs and property market analysis. Services are delivered through a team of approximately twenty employees including specialized graduates from the University of Sri Jayewardenepura, supported by specialized consultants in civil/structural engineering, quantity surveying, and finance.

Differentiator

Problem solved

Functional benefit

Products and services

• Valuation Services

Quantifiable outcome

• Deliver comprehensive and accurate valuation report within 3-5 days from time of request
• +2 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Royal Institution of Chartered Surveyors (RICS)coreOthersIJVR is led by a Fellow Member of RICS UK. The firm maintains RICS professional standards and guidelines (PS, VPS & VPGA) in its valuation practice. RICS membership provides international credibility and access to global valuation standards.
• Institute of Valuers of Sri Lanka (IVSL)coreOthersIJVR team members hold professional memberships with the Institute of Valuers of Sri Lanka. Graduates are guided toward IVSL and RICS memberships through the Assessment of Professional Competence (APC) pathway.
• Property Consultants Society United KingdomcoreOthersIJVR is a corporate member of the Property Consultants Society United Kingdom, which authorizes them to carry out property auctions worldwide.
• University of Sri Jayewardenepura - Department of Estate Management & ValuationcoreStrategic or Co-development PartnerIJVR receives specialized graduates seconded by the Department of Estate Management & Valuation of the University of Sri Jayewardenepura, providing access to emerging talent in the valuation profession.

Scale indicators4 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Anarock: Indian real estate technology and advisory firm offering valuation, consulting, and transaction services. Comparable to IJVR in serving South Asian bank panels and corporate clients for property valuations and feasibility studies.
• HVS: Specialist hospitality consulting and valuation firm with deep resort and hotel valuation expertise. Direct competitor for IJVR's Maldives island resort niche, with established international hospitality investor relationships.

Broad incumbents

• Savills: Global real estate services firm with valuation, advisory, and hospitality practices. Comparable in cross-border hospitality valuation work and IFRS-compliant asset valuations, particularly relevant to IJVR's Maldives and GCC expansion ambitions.
• Kroll (formerly Duff & Phelps): Global valuation and corporate finance advisory firm specializing in business and intangible asset valuations. Comparable to IJVR's IFRS/LKAS 16 revaluation and corporate finance specialist services for financial-reporting-driven engagements.
• CBRE Group: Global commercial real estate services and investment firm offering valuation, advisory, and brokerage across all asset classes including hospitality. Comparable to IJVR as a direct competitor for large-scale hotel/resort and IFRS fair-value mandates in South Asia and the Indian Ocean.
• Colliers International: Global professional services and investment management firm with real estate valuation and advisory practices. Competes with IJVR for hospitality valuations, IFRS fair-value work, and cross-border corporate mandates in South Asia.
• Cushman & Wakefield: Global commercial real estate services firm with valuation and advisory capabilities spanning hospitality, office, industrial, and residential. Direct competitor for resort valuation and bank-panel mandates in emerging South Asian markets.
• Knight Frank: Global real estate consultancy with strong hospitality valuation practice. Knight Frank UAE is actually an IJVR client (engaged IJVR to review Abu Dhabi valuations), confirming direct overlap in valuation methodology and resort asset work.
• Jones Lang LaSalle (JLL): Global real estate services firm with a dedicated Valuation Advisory practice covering hospitality, commercial, and residential assets. Competes with IJVR for cross-border corporate valuation mandates and resort valuations in the Indian Ocean region.

Regional players

• ERA Sri Lanka: Sri Lankan real estate brokerage and property services franchise. Overlaps with IJVR's property brokering and advisory services in the Sri Lankan residential and commercial market, though ERA's core focus is on transactions rather than valuation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ijvr-associates-pvt-ltd

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 IJVR Associates