The five star hotel, the shopping mall and the residential apartment projects are proposing for the new development. However The shopping mall construction is identified as the most suitable development for the proposed site.According to Finn and Louviere (1996) shopping malls are playing key role in modern retailing and marketing system, furthermore they still dominate the distribution system of goods. At the end of the agreed time period if the buyer found any problem or if he not willing to buy the land, then he can refuse to buy the land but he will lose the option money.

The Moreland property group went through lots of project proposals and ha… It will increase the demand of the building and the value. Going to a physical mall is always more convenient because if you have coupons you can use them and sometimes there are better sales. The events list at shopping malls goes on and on for any, particular, person to be entertained for a number of hours.Any shopping mall can be a great place to hang out with friends, eat, shop, and more.
Due to these reasons the shopping mall development will be getting more value in the future and it will lead to earn more profit.Nowadays the government of Sri Lanka gives more priority to the infrastructure development of the country to increase the economic growth of the country. It is a commonly used as a USP in western countries but it is a new concept for the Sri Lanakan people. This shopping mall will have some restaurants on the ground floor also it will have a cinema theatre.According Chang et al. Due to the location of the anchor store people will go through all floors and shops when they go to anchor stores. This is a five storey building and it will have an anchor retail store in the entire fifth floor. The company plans to develop a property on the site which is located No 2, Galle Road, Colombo 3. Here the specific time period for settling the remaining money can be agreed as one year, so the company has one year to arrange the remaining money for the land. However it will reduce the risk of difficulties in selling or letting after the construction. The Moreland property group is the leading property developers in Sri Lanka since 1990. Shopping may be important to us because it gives us a means of escaping whatever stress we carry with us, or it can even be for enjoyment to make ourselves happy. Because lots of legal issues may happen in the land purchasing also the future value of the land is uncertain and it depends on many factors. This approval is very important to make a respectable profit. Nowadays a modern shopping mall provides the vast range of entertainment for the consumer such as restaurants and cinemas (NCSC, 2009).According to Global Property Guide (2012) the average income of the Sri Lankans was increased due to increased employment in IT – BPO sectors. The mall culture has become a big business, as they have become multi-story structures that house a large number of shops selling various products and services. This has made Sri Lankan consumers westernised in their thinking to shop at modern retail establishments.

Because the company cannot sell the property beyond the market price, cannot buy a land for a very low price and cannot reduce the quality of the project.

During this period, company’s capital can be used in other areas of the project, as the total amount only needs to be paid at the end of the year when the land is bought.The land can be owned by paying the minimum amount of money as an option fee therefore the buyer can start the construction work earlier. There are many risks can be expected in this project as well.Purchasing land is the major risk identified in this shopping mall construction project.

Overcome from those risks is very important to the success of the project. According to Robinson (2008) most people in the World (including Colombo) enjoys shopping. Therefore the company has chosen that particular land to develop a suitable project in order to make reasonable profit.

The shopping mall can be pre letting to the tenants before starts the construction and the advanced money can be obtained from them.

Due to this peaceful situation the foreign investment in increasing significantly and it is reducing the unemployment. Hence the people want some shopping malls to fulfil their needs.

The importance of a shopping mall is mainly for people to get out of the house for a while and do something entertaining.

The mall can be more convenient, for a tourist, to have one central location to do all their shopping; rather than to have to drive many miles just to buy different types of products for their personal needs.Shopping at a physical mall compared to shopping online is very different. Here the solution called pre letting.

By the guarantee certificate if the project not finished on time then the contractor should pay the liquidated damages to his client. Advertising and good marketing strategies are essential for this process. Here the company can manage the garage or the operation franchise can be sold to the specialist company.In order to make a good profit, the shopping mall construction is the best choice because the future value of this sort of buildings very high in developing countries such as Sri Lanka.In the property development industry several land purchasing methods are available in common practice, each method has their own characteristics.
Therefore the client needs to take any remedy to avoid the loss due to the delay. Therefore cannot go for any high rise building however this soil condition will not affect a five storey building construction significantly.Comparatively there isn’t need for higher technology plants and technicians to construct a five storey shopping mall building. This method is very flexible to both parties and it is a profitable method for the buyer and seller.

After finishing the 30 years of local war Sri Lanka now feel the economical stability.


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