East West Properties PLC
CCSELK:EAST.N000064.80
LKR
-0.20
(-0.31%)
East West Properties PLC
CSELK:EAST.N0000
(Colombo Stock Exchange)
Recent
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64.80
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div
yld
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ROIC.AI
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- Business
- East West Properties PLC is a Sri Lanka-based real estate development, property investment, and diversified holding company primarily engaged in commercial property leasing, industrial warehousing management, engineering services, and media broadcasting. Founded in 1981 and headquartered in Colombo, Sri Lanka, the company operates across the commercial real estate, construction materials, and telecommunications media sectors, serving corporate enterprises, industrial operators, institutional clients, and consumer audiences across Sri Lanka. The company organizes its business operations across three primary segments: Property Development and Leasing, Engineering and Construction Services, and Media Operations. Its core products and services comprise: commercial real estate leasing, including multi-tenant and single-tenant office spaces located at prime urban sites such as Marine House in Colombo 03; industrial warehousing and logistics infrastructure, featuring a proprietary multi-storey warehouse complex spanning over 100,000 square feet equipped with heavy-duty cargo lifts in Peliyagoda; industrial land leasing for manufacturing, bulk storage, and cement packaging operations; residential property management and asset holdings; production and distribution of ready-mix concrete under the East West Ready Mix brand; procurement, trading, and leasing of construction machinery and engineering equipment; civil engineering project management and technical consultancy services; and television and radio broadcasting operations, transmission infrastructure, and content distribution services managed through its media subsidiary. East West Properties PLC conducts its operations through key subsidiaries and operating entities, including Peoples Media Network (Pvt) Ltd, which operates television and radio broadcasting networks in partnership with Sri Sambodhi Viharaya, and East West Engineering Services (Pvt) Ltd, which manages concrete supply and technical project execution. In recent corporate developments, the company underwent a major change in ownership and control in July 2025, when prominent Sri Lankan investor Dhammika Perera acquired a 77.40% controlling interest (106,991,848 ordinary voting shares) from the founding Wijesuriya family for approximately LKR 3.23 billion at LKR 30.20 per share. Following this controlling acquisition, the company executed a mandatory general offer, reconstituted its board of directors, and aligned its leadership with new corporate governance directives. In tandem with the ownership transition, the board formally rescinded a previously initiated proposal to delist the company from the Colombo Stock Exchange, maintaining its active public listing status. Operationally, the company has undertaken strategic restructuring to optimize its prime Peliyagoda warehousing and logistics footprint, creating operational synergies with affiliated industrial and cement supply-chain operations while preserving long-term occupancy across its commercial real estate portfolio.