Kurunegala is emerging as a prime real estate destination in Sri Lanka, bolstered by the Central Expressway. Unlike new cities developed from scratch, Kurunegala benefits from its status as a “Legacy City” with a rich history, existing infrastructure, and a thriving population. The expressway significantly enhances Kurunegala’s connectivity, making it an attractive location for real estate investment.

Real Estate Opportunities with Juniper Real Estate

Juniper Real Estate recognizes the immense potential of Kurunegala, offering strategic real estate opportunities in this burgeoning region. Kurunegala’s affordability, coupled with improved accessibility, makes it an ideal location for residential, commercial, and industrial investments.

Why Invest in Kurunegala Now?

• Strategic Location: Kurunegala is centrally located, providing access to major highways and roads, including the Central Expressway, Kandy Road, Dambulla Road, Puttalam Road, Negombo Road, and Colombo Road.
• Economic Growth: As the second-largest contributor to Sri Lanka’s GDP, Kurunegala is poised for exponential growth with the completion of the Central Expressway and other infrastructure projects.
• Affordable Real Estate: Compared to Colombo and Gampaha, real estate in Kurunegala is more affordable, providing better value for investment.
  Thriving Community: With a population of 1.7 million, Kurunegala boasts well-established schools,
  hospitals, and other essential amenities, ensuring a high quality of life for residents.

The Future of Kurunegala

Kurunegala is set to become a major trade and business hub in Sri Lanka. The Central Expressway will not only improve transportation and logistics but also attract businesses and investors to the region. This development is expected to drive up property values, making now the perfect time to invest in Kurunegala.

Kurunegala’s transformation, driven by the Central Expressway, offers unparalleled real estate opportunities. Juniper Real Estate is dedicated to helping investors capitalize on this growth. Whether you’re looking for residential properties, commercial spaces, or industrial sites, Kurunegala presents a unique blend of affordability, accessibility, and economic potential. Invest in Kurunegala today and be part of Sri Lanka’s next big success story. Contact Juniper Real Estate to explore prime real estate opportunities in this thriving region.

Why Kurunegala is a Success Story

Owning land has been a timeless passion for humanity, with history showcasing leaders like Alexander the Great and King Dutugemunu who expanded their realms to grow political and economic power. Today, countries continue to leverage land strategically, whether through revitalizing historic cities or developing new urban areas.

According to the Harvard Business Review, cities can be categorized into four types:
1. Developed Economy, Legacy City (e.g., London, New York, Tokyo, Singapore)
2. Emerging Economy, Legacy City (e.g., Mumbai, São Paolo, Jakarta)
3. Emerging Economy, New City (e.g., Phu My Hung, Vietnam; Suzhou, China; Astana)
4. Developed Economy, New City (e.g., New Songdo City in South Korea, Masdar City in Abu Dhabi,
Hafen City Hamburg in Germany)

The Juniper Intelligence unit’s analysis places Kurunegala in the “Emerging Economy, Legacy City” category. Cities like Kandy, Galle, Colombo, Jaffna, and Anuradhapura are legacy cities due to their historical significance as royal residences or ports. These cities have long-established infrastructure, including irrigation systems, roads, and hospitals, which have supported their continuous habitation and development.

In Sri Lanka, Colombo stands out for its significant development. The Department of Census and Statistics reported in 2020 that the average household income in Colombo was over USD 8,600, with a purchasing power per capita (PPP) of over USD 25,000. This is in stark contrast to the national PPP of USD 7,871, highlighting Colombo’s advanced living standards and business environment.

Kurunegala: An Independent Growth Story

Not all cities in Sri Lanka fit neatly into the “Emerging” or “Legacy” categories. Gampaha, for example, has become highly populated due to affordable land and easy commuting to Colombo. It exemplifies a “New City” in Sri Lanka’s context, thriving on its proximity to the financial capital. However, heavy investments in creating new cities, like Naypyidaw in Myanmar or Forest City in Malaysia, have not always yielded immediate success due to the challenge of attracting residents. Kurunegala’s success story is different.

Why Kurunegala Stands Out: A Data-Driven Perspective

Kurunegala, a prominent city in Sri Lanka, boasts impressive statistics that highlight its potential for growth and development. According to the CBSL Annual Reports, Kurunegala’s population reached 1,742,000 in 2022, making it the third most populous district in Sri Lanka, following Colombo and Gampaha. With 1,115 medical officers (4th place) and the highest number of government school teachers at 20,889, Kurunegala ensures robust healthcare and education services. The district also ranks third in government pupil population with 338,000 students and university admissions, contributing 3,157 students to higher education. Kurunegala excels in infrastructure with 2,652 km of roads, the highest in the country, and consumes 1,481 GWh of electricity, second only to Colombo. Furthermore, it leads in economic stability with the highest deposits in District Co-operative Rural Banks, amounting to Rs. 36,084,478,000. This comprehensive data underscores Kurunegala’s position as an emerging economic powerhouse and an ideal investment destination.

Strategic Location and Infrastructure

Kurunegala’s strategic location is a major advantage. It is well-connected by key roads like Kandy Road, Dambulla Road, Puttalam Road, Negombo Road, and Colombo Road. The Central Expressway further enhances its connectivity, positioning Kurunegala as a central hub. By 2030, Kurunegala will intersect with three additional highways:

• Kandy Central Expressway (connecting Pothuhera, Kurunegala to Galagedara, Kandy)
• Northern Expressway (connecting Kurunegala to Jaffna)
• Eastern Expressway (connecting Kurunegala to Trincomalee)

Affordable Real Estate

One of Kurunegala’s significant advantages is its affordable real estate. Unlike cities that require massive investments to attract foreign buyers, Kurunegala offers affordability to locals. This affordability, coupled with its strategic location and robust infrastructure, makes it an attractive destination for both residential and commercial investments.

Conclusion

Kurunegala’s growth is not a product of artificial development but a result of strategic infrastructure investments and natural growth. As the Central Expressway connects Dambulla to Colombo via Kurunegala, and additional highways link it to Jaffna and Trincomalee, Kurunegala is poised to become a major trade hub. This organic growth, supported by a solid infrastructure and historical significance, makes Kurunegala a model success story in Sri Lanka.
Investing in Kurunegala means securing a future in a city with a rich legacy, robust infrastructure, and strategic importance without having to compromise on space, location, or budget. As the city continues to develop, early investors are likely to reap substantial benefits. Don’t wait – seize the opportunity to be part of Kurunegala’s success story.

Real Estate Decision Triangle

Our research unit has identified the common compromises involved in purchasing real estate. Typically, buyers have to choose between Space, Location, and Budget. This Real Estate Decision Triangle often means sacrificing one of these elements to satisfy the other two. For example, if you want to live in Colombo 7 within a specific budget, you’ll likely have to compromise on the size of the property. A budget that secures a spacious home in Colombo 5 might only afford a smaller one in Colombo 7. Sometimes, maintaining the desired location and property size means exceeding the budget, leading to renting or leasing instead of buying. Alternatively, to stick to your budget and preferred location, you might opt for an apartment over a house.

The Impact of Time on Real Estate

Introducing the fourth dimension, time, changes everything. The real estate market doesn’t wait. The only notable downturn was after the 2004 tsunami, which temporarily decreased beachfront property values in the southern coast. However, the market quickly rebounded. The opening of the Southern Expressway in November 2011 triggered a surge in property prices, especially near highway exits.

Why Kurunegala is the Perfect Investment Now

Our research suggests that investing in Kurunegala requires no compromises. Kurunegala, categorized as an “Emerging Economy, Legacy City,” is experiencing real, sustainable growth due to its existing assets and infrastructure. Unlike artificially constructed new cities, Kurunegala’s development is organic, driven by strategic infrastructure improvements.
The upcoming Phase 4 of the Central Expressway, connecting Dambulla to Colombo via Kurunegala, will significantly boost local trade. Dambulla, a central agricultural trade hub, will benefit greatly from this connection, along with other highways linking Kurunegala to Jaffna and Trincomalee. While the southern region’s growth was fueled by tourism, Kurunegala’s northwestern/northern belt will thrive through trade.

Kurunegala’s Future as a Trade Hub

Kurunegala might not be a tourist hotspot immediately, but its potential as a major trade hub is undeniable. Its development has been steady and unnoticed, but with significant infrastructure projects underway, Kurunegala is set to become Sri Lanka’s next big city, akin to business cities like Chicago in the US and Manchester in the UK.

Invest in Kurunegala Now

The best part about investing in Kurunegala now is that there’s no need to compromise on space, location, or budget. Whether you’re looking to build your first home, expand your property portfolio, or acquire commercial real estate near highway exits, Kurunegala offers it all without sacrifice.

Legacy City with Modern Advantages

Kurunegala is a Legacy City with a rich history and existing infrastructure. Its residents have lived there for generations, contributing to its stable and thriving community. This makes Kurunegala an ideal location for both residential and commercial investments.

Don’t Wait – Act Now

Kurunegala’s growth is not a product of artificial development but a result of strategic infrastructure investments and natural growth. As the Central Expressway connects Dambulla to Colombo via Kurunegala, and additional highways link it to Jaffna and Trincomalee, Kurunegala is poised to become a major trade hub. This organic growth, supported by a solid infrastructure and historical significance, makes Kurunegala a model success story in Sri Lanka.

Investing in Kurunegala means securing a future in a city with a rich legacy, robust infrastructure, and strategic importance without having to compromise on space, location, or budget. As the city continues to develop, early investors are likely to reap substantial benefits. Don’t wait – seize the opportunity to be part of Kurunegala’s success story.