In his recent interview with Faraz Shauketaly, Hardy Jamaldeen, Executive Director and Co-Founder of Steradian Capital Investments, shared his candid insights on the current state of Sri Lanka's economy, focusing on the opportunities in the real estate and tourism sectors.

Jamaldeen did not shy away from acknowledging the challenges, particularly in the real estate sector, where slow-moving bureaucracy can delay projects and deter potential investors. However, he remains optimistic about the long-term potential for growth. “There are issues, no doubt, but it’s not all doom and gloom,” he said. “Our focus has been on refurbishing existing properties instead of new builds, which has allowed us to bypass some of the bureaucratic delays and deliver results more quickly.”

When it comes to Sri Lanka’s tourism recovery, Jamaldeen is hopeful. “Tourism is rebounding strong, we had 2.3 million tourists in 2023, and with the right infrastructure in place, there’s no reason we can’t reach 5 million tourists in the next couple of years,” he noted.

Jamaldeen also highlighted the importance of creating a more investor-friendly environment. He advocates for regulatory reforms that would streamline processes for both local and foreign investors, which would boost real estate development and overall economic growth.

Looking ahead, Jamaldeen is hopeful that Sri Lanka will prioritize policies that enable quicker development, improve tourism infrastructure, and create a regulatory framework that encourages investment. With the right support, he believes Sri Lanka can overcome its challenges and unlock its full potential.