Leading South Asian property developers, Iconic Developments (Pvt.) Ltd. reiterated its confidence in the growth outlook of the Sri Lankan real estate sector, following recent concerns as to the pace of growth in the sector. Acknowledging the fact two notable high-end developers had failed to get their projects off the ground, resulting in limited negative ramifications for lending to the sector, Iconic noted that the significant majority of real estate development was in fact being driven by real demand for quality vertical living in and around the Colombo district.

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