2022-04-26
![Prime Group further strengthens financial stability by upgrading to [SL] A (Stable) credit rating from ICRA by Moody’s](https://www.primelands.lk/images/2204260704330A_Stable_News.jpg)
Prime Lands Ltd. and Prime Lands Residencies PLC have received a further strengthen issuer rating of [SL] A (Stable) making Prime Group the largest real estate company in Sri Lanka to receive this rating from ICRA Lanka.
In its special notification Prime Group, ICRA Lanka says, “The Rating Committee of ICRA Lanka Ltd., after due consideration of the latest developments in your company, has revised the Issuer Rating to “[SL]A” (pronounced as S L A) with Stable outlook from [SL] A- (pronounced as S L A minus) with a Stable outlook, assigned to your Company. Entities with this rating are considered to have (an) adequate degree of safety regarding (the) timely servicing of financial obligations. Such entities carry low credit risk. The rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument.”
Commenting on the rating, Prime Group Co-Chairman Brahmanage Premalal said: “It demonstrates the stability of our group and the commitment we have towards fulfilling our obligations to our customers.
“It is a strong recognition of the financial and operational stability of our companies and reflects the strength of the forecasted and delivered financial stature of the companies in the group. This is the best certificate we can offer to our valued stakeholders to enhance their confidence in us. This has been strengthening over the past 26 years as a group of companies.”
Brand Finance crowned Prime Lands Residencies as the Most Valuable Real-estate brand in LMD’s latest brand annual. Prime Group was also awarded as the most respected entity in Real Estate for two consecutive years, Most Respected Real Estate for four years; PropertyGuru Asia Property Awards also recognized Prime Group as Sri Lanka’s best developer for two consecutive years. Achieving the Great Place to Work for six years reflects our human capital strength as a diversified group.
To date, Prime Group owns probably the largest land bank, representing 18 districts across the country along with multiple apartments and individual housing projects strategically located across the island.
“These Ratings and Recognitions awarded by external rewarding bodies after reviewing our work reflect the high standards we keep and the hard work and commitment we have towards our customers on all our projects. The best award we have received is customer satisfaction for the timely delivery of all the projects we have started.
As the highest credit-rated Real Estate Group by ICRA in the country, the financial discipline we follow is the DNA of our success. Hence, this rating upgrade is very special to all our stakeholders,” concluded Premalal.
Prime Lands (Pvt) Ltd, Sri Lanka’s trailblazer in real estate industry, has ma
READ MORE
Prime Group, the nation’s leading real estate conglomerate, has clinched the
READ MORE
Prime Group’s ‘YOLO’ Sri Lanka’s First-ever Modern Home Apartment City C
READ MORE
Prime Group’s YOLO Promises a Lifestyle of “Playful Luxury” with Sri Lanka
READ MORE
Prime Group Relocates Galle Branch to Elevate Customer Experience and Reinforce
READ MORE
Prime Group’s ‘88 Residence Kahathuduwa’ Open Day unlocks dream homes off
READ MORE
Prime Lands Commences the Construction of ‘The Residence' Samagi Mawatha, Thal
READ MORE
Prime Group's stunning new project - Waterfall Residencies Malabe welcomes disc
READ MORE
.jpg)
Prime Group Delivers Prime Villas, Dalugama with a Grand Handover Ceremony
READ MORE
Prime Lands Residencies PLC announces Sandamini Perera as New Executive Chairper
READ MORE
Prime Lands clinches coveted Gold Award for elevated online presence at 13th Be
READ MORE
Prime Group to soon complete the only Lifestyle Apartment Complex in Gampaha
READ MORE
Prime Group Completes its Latest Masterpiece: The Grand Ward Place a Triumph of
READ MORE
Mrs. Sandamini Perera shared her thoughts on "How female leadership is most rewa
READ MORE
.png)
Prime Group Ended 2022 with Landmark Project Handover – ‘Evoke’ Kadawatha�
READ MORE
.jpg)
Accomplished Strategic Management Professional Ruminda Randeniya has been appoi
READ MORE
.jpg)
Prime Lands Residencies PLC was placed 1st in the Land and Property Companies S
READ MORE
.jpg)
The Leader in real estate industry in Sri Lanka, Prime Group, ceremoniously hand
READ MORE
.jpg)
Prime Group, the leading real estate company in Sri Lanka won two Gold Awards a
READ MORE
Prime Group was recently listed among the 100 Best Workplaces in Asia for 2022 b
READ MORE
We are delighted to announce that Prime Group has been awarded as one of the 50
READ MORE
Further strengthening the Prime Group branch network, The Kurunegala Branch was
READ MORE
Prime Lands Residencies PLC has been ranked the most valuable real estate brand
READ MORE
At Prime Group, we always put forward our dedicated, loyal, and talented employ
READ MORE
The development of new highways in the country and their fast-growing popularity
READ MORE
.jpg)
Prime Group, the undisputed leader in real estate has launched the latest in it
READ MORE
Completion of yet another exceptional, nature-inspired luxury living experience,
READ MORE
Affirming its indelible reputation as the country's premier and largest diversif
READ MORE
Sri Lanka's leading property development conglomerate Prime Group's dynamic Chai
READ MORE
Affirming its deep commitment to empowering communities in the country, Sri Lank
READ MORE
In a concerted attempt to reinforce the national COVID-19 response this Vesak Se
READ MORE
Sri Lanka's largest real estate company Prime Group recently secured three top a
READ MORE
Prime Group introduces Digana - Scottish Island , an exceptional collection of 2
READ MORE
Prime Group emerged a winner in two categories, winning the Gold award for Best
READ MORE
Leading Sri Lankan property developer Prime Group is adding to its award-winning
READ MORE
Property magnet Prime Group makes history as the first institution in the Sri La
READ MORE
Records further win in Best Luxury Condo Development, Best Housing Project categ
READ MORE
Prime Group has been rated as one of the 25 Great Work Places in Sri Lanka - 201
READ MORE
Woman Super Achiever of the year under Real Estate Sector" at Business Leader Of
READ MORE
Prime Group, the leading Sri Lankan property giant, announced the awarding of th
READ MORE
We are delighted to announce Prime Group has been rated as one of the 25 Great W
READ MORE
The Prime Group Toastmasters club held its charter ceremony on 24th May with the
READ MORE
Mr. Brahmanage Premalal, Chairman of Prime Group was interviewed by Channel Eye
READ MORE
Great Place To Work? Institute presenting the Best Companies to Work for in Sri
READ MORE
What are the aspects for an apartment buyer have to think of eliminating the ris
READ MORE
LMD pays tribute to the 2014 "Business people of the year"... Congratulations to
READ MORE
That is the newest land project from Prime Lands, ?Paradise City? in Athurugiriy
READ MORE
Prime Lands Group awarded as the Best Real Estate Company in Sri Lanka at Asia P
READ MORE
Owning a beautiful land is everyone's dream. At Prime Lands we have made it our mission to make this dream a reality.
