ICON Mirissa Breaks Ground – A New Chapter in Luxury Investment Begins
On 2 May 2025, the Odiliya Group proudly launched its visionary project, ICON Mirissa, with a vibrant groundbreaking ceremony in the heart of Mirissa. Spearheaded by the esteemed entrepreneur Mr. Rohitha Abeygunarathne, this milestone not only marked the commencement of construction but also unveiled a pioneering income-generating investment opportunity in one of Sri Lanka’s most sought-after coastal destinations.
ICON Mirissa redefines luxury property development, offering investors a unique opportunity to capitalise on the flourishing travel and tourism industry. Comprising an exclusive collection of 18 architecturally stunning two-bedroom villas, this gated community blends boutique elegance with practical functionality. Designed specifically for short-term rentals through platforms such as Airbnb, each villa caters to both discerning holidaymakers and savvy investors.
Strategically positioned near iconic attractions such as Coconut Tree Hill, Secret Beach, and Weligama’s surf-friendly shores, ICON Mirissa is poised for exceptional year-round occupancy. The region’s popularity for whale watching, yoga retreats, and beach exploration ensures a consistent demand, positioning these villas as prime assets for generating reliable rental income.
The development offers a comprehensive villa management service, alleviating the complexities of hosting and enabling owners to enjoy passive income while their property appreciates. With premium amenities including a 100-foot swimming pool, a gourmet restaurant, a spa, a yoga pavilion, and round-the-clock security and concierge services, guests will experience resort-style luxury, while investors benefit from professional property management.
This launch represents a bold step in alignment with global trends towards experiential travel and innovative hospitality. ICON Mirissa is a platform for financial growth and a standout addition to Sri Lanka’s luxury tourism landscape. The Odiliya Group invites investors to seize this exceptional opportunity, with construction underway and only a limited number of villas remaining. ICON Mirissa offers a gateway to a lucrative investment, combining long-term financial rewards with the allure of a vibrant lifestyle. Join us in shaping a sanctuary where astute investment meets the timeless beauty of Sri Lanka’s coastline.
Odiliya Group Hosts Groundbreaking Ceremony for Oceanista Residencies in Panadura
On December 6th, 2024, the esteemed Odiliya Group, under the leadership of Rohitha Abeygunarathne, proudly announced the start of construction for Oceanista Residencies in Panadura, Sri Lanka, with a well-attended groundbreaking ceremony. This promising new development is poised to redefine luxury coastal living with its stunning architecture and panoramic ocean views. Featuring a variety of modern living spaces, Oceanista Residencies combines style, comfort, and convenience, making it an ideal choice for those seeking a serene coastal lifestyle with easy access to urban amenities. Oceanista Residencies offers an exclusive selection of 1-, 2-, and 3-bedroom homes, each designed to provide residents with spacious living areas, serene master bedrooms, and fully equipped pantries. Future homeowners will delight in premium amenities such as an infinity pool overlooking the ocean, a state-of-the-art gym, a private clubhouse, round-the-clock security, and a centralized gas system. With 30% of the units already sold, prospective buyers are encouraged to act quickly, securing their home with an initial payment of just 1 million and a competitive monthly installment plan of 1.5%. As Oceanista Residencies continues to rise along the scenic coastline of Panadura, it is set to become a landmark project, symbolizing a perfect blend of luxury and charm. Odiliya Group invites prospective homeowners and investors to seize this unique opportunity to be part of a community designed for excellence. Keep an eye out for further updates as Odiliya Group continues to transform visions of modern living into reality, enhancing the value of coastal real estate investments in Sri Lanka.
The Odiliya Group has been honored with the prestigious title of “Most Resilient Company in the Real Estate Sector” at the esteemed International Business Icon Awards 2023. The recognition comes as a testament to the group’s unwavering commitment to excellence, innovation, and social responsibility in the face of economic challenges.
The International Business Icon Awards acknowledged Odiliya Group for its consistent and systematic approach, financial and operational fortitude, and significant contributions to the community. The company’s noteworthy efforts in protecting biodiversity and creating favorable working conditions for differently-abled employees during economic uncertainties played a pivotal role in securing this esteemed accolade.
Dr. Piyavi Wijewardene, the Vice President of Odiliya Group, expressed his gratitude and attributed the success to the collective efforts of Team Odiliya, the support of valued clients, dedicated suppliers, and strategic partners. He emphasized the key factors that led to the triumph, stating, “The consistent outcomes in terms of sales, stakeholder management, and our financial and operational discipline have been the key to our success. I would like to thank everyone on Team Odiliya, our awesome clients, suppliers, and partners. Even our fellow rivals sharing the marketplace played a significant part in our toughness of spirit and glory!”
The award underscores Odiliya Group’s resilience and adaptability, showcasing its ability to navigate challenges while maintaining a commitment to excellence. As a leading player in the real estate sector, the group continues to set industry benchmarks and exemplify a dedication to corporate responsibility, community engagement, and sustainable business practices.
The International Business Icon Awards 2023 serves as a platform to recognize outstanding achievements and contributions by companies across various industries.
Rohitha Abeygunaratne’s aspiration was to one day start his own company with his hard earned money, and his determination and dedication allowed him to achieve it at a very young age. Today, Rohitha is the Co-founder and Managing Director of Odiliya Group of Companies, Ayelka Trust and Investment pvt Ltd and Everluck Residency Project Pvt Ltd, and the Founder and Sales Director of Regency Property Developments LTD.
He is a result oriented person whose dynamic spirit has steered the companies towards success. Rohitha is a Marketer by profession and has years of experience working in a plethora of key positions handling Sales and Marketing operations.
“After an illustrious career working in leading real estate firms, I opted to establish Odiliya Homes & Real Estate Company (Pvt) Ltd, with the aim of steering the real estate industry in Sri Lanka in a new direction. My broad experience and excellent leadership have been instrumental forces in guiding the company from its humble beginning to what it is today.”
Speaking about the performance of the Real Estate industry in Sri Lanka, Rohitha stated that it has not been largely affected as more people now opt to invest in real estate.
“In the Real Estate industry, today, in Sri Lanka, the extent of the impact and recovery is based on the duration of the COVID-19 second wave that we are facing right now, and, after the first wave of coronavirus hit Sri Lanka in March last year, the impact on the industry was minimal, especially residential real estate businesses when compared to Hospitality and Retail Real Estate businesses.”
He, however, citing examples, mentioned that some areas in the business were affected. “For example, the cash flow to real estate companies have been slow due to the slowdown in the renting process and customers being unable to settle their rents.
“Other affected areas include, losing deals that were being negotiated, renting apartments based outside Colombo slowed down as many areas were found to be isolated areas and customers were unable to pay their rents on time, therefore, some houses were vacant without occupants. Even the evaluation process was affected as property inspections were limited.”
Furthermore, Rohitha affirmed that it is the responsibility of the people to understand the situation and not solely depend on government support. “When we look at the macro situation, even before the pandemic, the country’s tax revenue was 12% of GDP; now it is less than that. Government service expenditure is 18% of the GDP – there is a deficit. Every company is depending on the government for their survival. The irony is that the Government is not in a position to offer them financial support as 40% of Government revenue is used to pay off debt. Therefore, people in the country should understand not to depend solely on the Government.
“If you go against the competition, there will remain only a few who enjoy the monopoly. More than 80% of enterprises are affected and the majority of them are micro and small enterprises. As a result, the concept of Public Private Partnerships (PPPs) is now more important than before; building alliances to survive in times of crisis.”
Explaining how tourism helps to build a strong real estate climate in Sri Lanka, Rohitha said, “Real estate and tourism are two different industries that correlate and influence on one another. Especially, by the end of the 30 year-long terrorist war, the country was able to resolve all its security issues, establishing confidence in entering different parts of the country for locals as well as tourists around the globe. This resulted in a considerable growth in the Tourism industry as well as the Real Estate industry.
“Researchers and analysis conducted focusing on the Tourism industry have also proved that this industry plays a major role in fostering many business and economic opportunities for both locals and foreigners. One of the finest examples is the Colombo Port City which will be developed into a ‘smart city’.
“In addition to the growth in the Hotel industry, the luxury residential and commercial properties which are a current rising trend in the country is the growth in vacation homes. Since traveling across the country has become more affordable, and due to the government’s decision to reduce levies on the Hotel and Travel industries, we are bound to see a rise in demand towards short-term living options as well as multi-family living options for those who prefer living with locals to get a taste of living in Sri Lanka.”
On a concluding note, the Managing Director stated that he expects the Real Estate industry to grow as low interest rates offered by banks have led investors to look at other avenues of investment rather than keeping money idle in the bank.
As a responsible industry that supports the economy of the country, we have to anticipate other types of natural disasters as well. High-end real estate markets will be the least affected when looking at the future with the pandemic. Low interest rates offered by banks for savings account holders have caused investors to look at other avenues of investments rather than keeping their money in the bank. Accordingly, I believe these crisis situations have caused high end customers to invest in real estate as a more viable alternative.
“We are drawing up exclusive plans to meet future safety and security requirements and to build houses to mitigate the impact of natural disasters. This may be costly, but I believe that the companies that follow these standards would have a good return on investment.”
Odiliya residencies proudly presented the special Malabe Kingswin housing project night launch! Take a walk through and experience the comfort and serenity of these lavishly designed houses, and feel confident about the exclusive opportunity that is owning a house from Kingswin!
