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Kelsey Developments experiences growth following Blue Ocean acquisition

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Blue Ocean Group of Companies, a renowned real estate conglomerate, has set its sights on expanding into the gated housing market with its latest acquisition of Kelsey Developments PLC.

With over 200 completed projects and a loyal customer base spanning 40 years, Kelsey Developments PLC is a well-established player in the real estate sector. The acquisition marks a significant milestone for both companies, as it further strengthens Blue Ocean’s presence in the market while providing Kelsey with new opportunities for growth and profitability.

“Kelsey Developments PLC’s state of the art project is “The Central Park Ja-Ela.” Central Park, a 15-acre land with 300+ housing units in the heart of Ja-Ela, offers more than 40 amenities that include a fully equipped gymnasium, an outdoor pool, clubhouses, a pond, garden areas, a jogging track, a yoga studio, a day-care centre, a kids play area, a supermarket, a café, and drivers’ and maids’ quarters,” said Chairman/CEO of Blue Ocean Group of Companies, Thumilan Sivarajah.

With the acquisition by Blue Ocean Group, Kelsey’s fortunes have taken a positive turn resulting in improved financial performance.

Kelsey Developments PLC, listed on the Colombo Stock Exchange, has emerged as the premier housing developer in Sri Lanka over its 40-year history with a vast portfolio of over 200 real estate and housing projects.

“The company’s commitment to excellence is evident in its successfully completed projects, including Templer’s Square in Mount Lavinia, Riverside Luxury Bungalows, Verdant Villas Negombo, Urban Gateway Kottawa, Urban Heights Wattala, Central Park Ja-Ela, and the esteemed Kelsey Palace luxury high-rise apartment project in Nugegoda,” said Thumilan Sivarajah.

Blue Ocean Group, founded by top professional and business leader Sivarajah Thumilan, serves as a pre-eminent real estate conglomerate with a well-balanced portfolio.

Blue Ocean Group specialises in design, construction, project management, and sustainable property investment solutions and its diverse portfolio includes Link Engineering, Blue Ocean Residencies, Link Ready Mix, Contessa, Blue Ocean Travels, Blue Ocean home appliances, Blue Ocean Facility Management, Sisira Engineering, and KBBS Campus.

Chairman/CEO Blue Ocean Group, Thumilan Sivarajah.

Chairman/CEO Blue Ocean Group, Thumilan Sivarajah.

The acquisition of Kelsey Developments by Blue Ocean Group not only highlights the growth potential of both companies but also signifies the beginning of a new era for Kelsey.

Link Engineering, a member and construction arm of Blue Ocean Group of Companies, is one of the first few construction companies in the country with experience spanning over four decades. Having been recognized with many awards for their construction excellence over the years, Link Engineering has undertaken a number of successful government and nongovernment projects in the past and continues to forge ahead in its journey.

The company currently has a number of condominium projects as well as a variety of public and government projects such as hospitals and universities under its wing that have been entrusted to the group.

Some of its recent successes include the handing over of Blue Ocean Group’s luxury condominium projects at Alfred House Gardens, Colombo 03 and Jayasinghe Road, Colombo 05.

The company also handed over the elegant customer care center belonging to the Ministry of Water Supply National Water Supply & Drainage Board and also the Faculty of Engineering Technology and Bio System Technology, University of Jaffna at Ariviyal Nagar, Kilinochchi which is the largest floor area building in the Jaffna university history with modern lecture halls, auditorium, laboratory.

Link Engineering will also be handing over the 08-storied Medical Faculty building under the University of Jaffna which is nearing its completion. This will be the tallest building in the Jaffna Region and it will be a prime landmark in the region and is their tenth project in Link Engineering’s portfolio in the Northern Region.

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