Sri Lanka’s construction industry is limping back to normal, said President Sri Lanka Institute of Architects (SLIA), Russel Dandeniya.
 Russel Dandeniya
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He said that the main reason for this is the take off of the tourism sector and the government deciding to pay some of the long overdue payments to the construction sector.
“We are an industry that achieved over Rs. 1 trillion before C-19 and with this development we are optimistic that the sector will rebound from 2025,” he told Sunday Observer Business on the sidelines of the Architect 2023 at BMICH which concludes on today, February 26.
He said the tourism and construction sector together, will contribute 20% of GDP to the national economy. The estimated workforce of the construction sector is about 1.2 million men and women. The industry will recommence construction work in different segments such as residential, commercial, industrial, institutional, infrastructure and city level construction.
The industry also aims to achieve an annual growth of about 6% from this year to 2026, supported by investments in transport, housing, and renewable energy projects. Local constructing companies have also received many foreign contracts as well.