Colombo Land and Development Company

Colombo Land and Development Company PLC, commonly abbreviated as CLDC, is a Sri Lankan property development and holding company with activities centred on investment properties, retail leasing, mixed-use real estate and managed parking facilities. The company was established on 8 December 1981 and became a listed company on the Colombo Stock Exchange on 19 March 1986. Its principal operating base and best-known asset is Liberty Plaza, a mixed-use commercial complex in Colombo that combines retail outlets, offices, apartments and structured parking. Liberty Plaza is the core expression of CLDC's operating model. The company develops, owns and leases space within the complex, while seeking to preserve its commercial relevance through expansion, modernisation and changes to its tenant and retail-brand mix. The property comprises approximately 16,400 square metres, or about 176,000 square feet, and includes 83 shops, 10 offices and apartments. CLDC also operates five levels of parking at Liberty Plaza, with capacity for more than 250 cars and 100 motorcycles. Rather than functioning primarily as a consumer-goods brand, CLDC operates as a property-owning and asset-management business whose brand visibility comes from the properties and facilities it controls. The company's portfolio also includes other parking and land-based investment assets in Colombo. Gasland Car Park, located in the central Colombo area, occupies nearly three acres and serves traders and commercial users bringing goods into the city by lorry and container truck. People's Car Park is located above the People's Park shopping complex. It was refurbished in 2021 and includes 185 vehicle bays and 80 motorcycle bays. The refurbishment added a roof fitted with solar panels, intended to provide renewable electricity for the wider complex. CLDC's activities extend beyond urban commercial property. Its wholly owned subsidiary, Agri Spice (Pvt) Ltd., operates a plantation of approximately 41 hectares, or 102 acres, in Avissawella. The plantation cultivates mahogany, rubber and Alstoniya, giving the group an additional land-based activity alongside its core real-estate operations. The company is led by a board and executive management structure that includes Asoka Weerasooriya as chairman and independent non-executive director and P. S. Weerasekera as executive director and group chief executive officer. Dilith Jayaweera, who had served as a non-executive director, resigned from the board in September 2023 after entering politics. The available reference material does not identify CLDC's founder, ultimate owner, current shareholding structure, financial results or a separate consumer-facing brand architecture. Its positioning is therefore best understood as that of a Sri Lankan listed property company focused on maintaining and monetising urban commercial assets, particularly Liberty Plaza, while managing related parking and plantation properties.

Colombo Land and Development Company was established in Sri Lanka on 8 December 1981 as a property development and holding business. Its formation placed it within Colombo's expanding commercial-property sector, where the development, ownership and leasing of centrally located real estate could support recurring rental income as well as long-term asset value. The company reached an important corporate milestone on 19 March 1986, when it was listed on the Colombo Stock Exchange. The listing gave CLDC the status of a publicly traded Sri Lankan property company and provided a formal market for its shares. The available reference material does not identify the original founders, the initial capitalisation or the detailed circumstances of the listing. CLDC's most significant historical asset is Liberty Plaza in Colombo. The company developed and owns the complex, which operates as a mixed-use property containing retail outlets, offices, apartments and parking. Its principal business activities include developing and leasing investment properties, with Liberty Plaza serving as the centre of the group's commercial identity. The property has been maintained as an active retail and business destination through expansion, modernisation and adjustments to its combination of tenants and brands. The complex covers approximately 16,400 square metres and contains 83 shops, 10 offices and apartments. CLDC additionally manages five levels of parking at the site, accommodating more than 250 cars and 100 motorcycles. The group's property portfolio is not limited to Liberty Plaza. Gasland Car Park is a nearly three-acre asset in central Colombo used particularly by traders and commercial transport operators moving goods into the city by lorry and container truck. This gives CLDC exposure to a practical logistics-related land use in addition to conventional retail and office property. People's Car Park, situated above the People's Park shopping complex, represents another parking-focused asset. Its refurbishment in 2021 increased or formalised its operating facilities around 185 vehicle spaces and 80 motorcycle spaces. The project also introduced a roof with solar panels, creating a renewable-energy feature associated with the complex. CLDC has also operated outside purely urban property through Agri Spice (Pvt) Ltd., a wholly owned subsidiary. Agri Spice manages a plantation of about 41 hectares in Avissawella, where mahogany, rubber and Alstoniya are cultivated. This subsidiary broadens the group's exposure to land management and plantation activity, although the company's public identity remains primarily associated with property and parking assets in Colombo. The company's leadership has included Asoka Weerasooriya as chairman and independent non-executive director and P. S. Weerasekera as executive director and group chief executive officer. In September 2023, non-executive director Dilith Jayaweera resigned after entering politics. The available sources do not provide a complete historical list of directors, details of all corporate transactions, financial performance, or a definitive account of changes in ownership. On the information available, CLDC remains an active listed Sri Lankan property company whose strategy is centred on owning, leasing, modernising and operating income-generating real estate, with Liberty Plaza as its flagship property.

• 2023

  Board departure of Dilith Jayaweera

  [1]Colombo Land and Development Companyen.wikipedia.org

  Dilith Jayaweera resigned as a non-executive director in September 2023 after entering politics.

• 2021

  People's Car Park refurbishment

  [1]Colombo Land and Development Companyen.wikipedia.org

  People's Car Park was refurbished with 185 vehicle bays, 80 motorcycle bays and a solar-panel roof.

• 1986

  Listed on the Colombo Stock Exchange

  [1]Colombo Land and Development Companyen.wikipedia.org

  The company was listed on the Colombo Stock Exchange on 19 March 1986.

• 1981

  Company established

  [1]Colombo Land and Development Companyen.wikipedia.org

  Colombo Land and Development Company was established on 8 December 1981.

A Sri Lankan listed property owner and developer focused on urban commercial real estate, retail leasing, managed parking and selected land-based investments.

• Mixed-use commercial property

  Liberty Plaza

  Liberty Plaza is CLDC's flagship development and the company's principal investment property. Located in Colombo, it combines retail shops, offices, apartments and multi-level parking across approximately 16,400 square metres. The complex includes 83 shops and 10 offices. CLDC owns and leases space within the property and maintains its commercial appeal through modernisation, expansion and diversification of tenants and retail brands.

• Commercial parking and land asset

  Gasland Car Park

  Gasland Car Park is a nearly three-acre CLDC investment property in central Colombo. It is used particularly by traders and commercial operators handling goods transported into the city by lorries and container trucks, giving the asset a role connected with urban distribution and wholesale activity.

• Commercial parking facility · 2021

  People's Car Park

  People's Car Park is located above the People's Park shopping complex. Following refurbishment in 2021, the facility provided 185 vehicle bays and 80 motorcycle bays. Its new roof incorporates solar panels intended to generate renewable electricity for the wider complex.

• Plantation and land management

  Agri Spice

  Agri Spice (Pvt) Ltd. is CLDC's wholly owned subsidiary operating a plantation of approximately 41 hectares in Avissawella. The plantation cultivates mahogany, rubber and Alstoniya, extending the group's activities into managed agricultural and forestry land.

• 2021

  Refurbishment and renewable-energy upgrade at People's Car ParkStrategy

  Background

  People's Car Park, located above the People's Park shopping complex, required refurbishment as part of the group's management of its parking and investment-property assets.

  Action taken

  The facility was refurbished with 185 vehicle bays and 80 motorcycle bays, and a new roof fitted with solar panels was installed.

  Aftermath

  The upgraded roof established a renewable-energy source intended to serve the entire shopping complex, while the car park continued operating as a managed CLDC property.

  Source

1. 1Colombo Land and Development Companyen.wikipedia.org