Living in Dubai or Abroad? How to Invest in Port City Colombo

Port City Colombo marina. Photo: SinsiDILINI123, CC BY-SA 4.0, via Wikimedia Commons

If you are a Sri Lankan working in Dubai, the Gulf, the UK or Australia, you have probably asked yourself: should my savings stay abroad, or come home? Port City Colombo is giving overseas investors a new answer.

Why overseas buyers are looking at Port City

• Built for international money: Port City is a Special Economic Zone with its own Economic Commission, set up under the 2021 Act to attract foreign investment.
• Government is actively courting Gulf investors: in January 2026, Sri Lanka pitched investment opportunities, including Port City, at an investor forum in Dubai (Gulf News).
• Overseas demand is real: developers report strong interest from end users and investors, including buyers from overseas (Sunday Times).
• A home for later, an asset for now: many buyers rent the unit out today and plan to live in it when they return.

How the process usually works

1. Define your goal: rental income, capital growth, or a future family home.
2. Shortlist projects and units: compare developers, views, floor plans and payment plans.
3. Check the rules for your situation: Port City has its own framework. Legal commentary on the 2021 Act notes that investments in the zone are expected to be funded from overseas, in foreign currency. Rules change, so confirm the current position with a lawyer.
4. Appoint your own lawyer: independent from the developer, to review the agreement and lease terms.
5. Pay through official banking channels: keep every record for tax and future resale.
6. Track construction remotely: ask for regular progress photos and site updates.

The Dubai advantage

Azaad Azmi runs R&AA Properties from Dubai and grew up in Sri Lanka. He understands how Gulf-based buyers think: payment plans, off-plan timelines, branded living and rental returns, and how those ideas now apply in Colombo.

Investing from Dubai or abroad?

Book a free call with Azaad Azmi. Get a shortlist of Port City options that fit your budget, and a clear step-by-step plan for buying from overseas.

WhatsApp Azaad now: +94 77 704 7774

This article is general information, not financial or legal advice. Rules on foreign investment, currency and tax change. Always get independent legal and financial advice before investing.