Are you fascinated by the success stories of real estate tycoons who started from scratch and rose to fame with their visionary leadership? Dive into the inspiring story of Ruminda Randeniya, CEO of Prime Lands, whose unwavering determination and innovative ideas have transformed the industry. From humble beginnings to establishing an empire worth billions, discover how this leader’s charisma, strategic planning, and resilience paved the way for his rise and reign in today’s competitive market.
During his time at Ananda College, Ruminda was an athlete who displayed exceptional sportsmanship. It is often said that individuals who excel in sports are likely to acquire important life skills, including character, teamwork, honour, hard work, discipline, resilience, respect, and responsibility. These skills have undoubtedly played a crucial role in shaping his current position and achievements.
Ruminda joined Prime as a school leaver and climbed the ladder of success gaining vast experience in the Real Estate Business under the guidance of the Founders of Prime being Mr. Bramanage Premalal, the Chairman and Mrs. Sandamini Perera, Co-Chairperson.
Further, Ruminda served in various Senior Management roles at the initial stages of his career, such as Senior Manager, Assistant General Manager, General Manager, and Deputy Chief Executive Officer. It is truly remarkable how he ascended the corporate ladder, ultimately establishing himself as one of the company’s most accomplished executives.
Ruminda presently holds the positions of Director at Prime Lands (Pvt) Ltd and Bhoomi Realty Holdings (Pvt) Ltd. He also serves as General Manager for Real Estate at Prime Lands Residencies PLC. In addition, Ruminda holds directorship positions at Regent Caterers (Pvt) Ltd and Regent Country Club.
Prime Lands (Pvt) Ltd was founded more than 26 years ago with the vision of “Committed to creating a better place on earth.” Starting small with only four employees, Prime Group quickly rose to the top of the real estate business in Sri Lanka by having a clear market focus, a high level of financial discipline, and implementing innovative marketing approaches. Everyone aspires to own a great piece of property and Prime Lands have made it their aim to make this dream a reality. Assume you wish to buy land to build a house for you and your family. Prime Lands provide you with a selection of the most excellent land alternatives in the country, as well as a variety of support services, such as legal and financial assistance, to help you realize your property dreams. In Sri Lanka’s highly competitive real estate market, Prime Lands acquired over 500,000 customers, sufficient proof of Prime Lands’ capacity and leadership in the real estate industry.
As the real estate industry evolves, several emerging trends and innovations shape the sector. Ruminda has highlighted a few of these trends that Prime Lands has incorporated into its operations. One such trend is the use of a WhatsApp Chatbot. The company holds the distinction of being the first real estate company in Sri Lanka to have a verified WhatsApp account, and its WhatsApp Chatbot system assists clients until they choose to connect with a live agent. Furthermore, Prime has a dedicated sales team that responds to WhatsApp chats within an hour and continues to assist clients until the sale is closed.
Additionally, when it comes to expanding the brand, Ruminda shares that Prime Lands is setting up a call centre and expanding its reach to international markets, including Dubai, Cambodia, and Australia. He also highlighted the company’s diversification into the hospitality industry, with two business entities – Regent Caterers and Regent Country Club (Pvt) Ltd.
Leaders in various domains, such as business, politics, and other fields, frequently encounter challenges and obstacles in their roles. When discussing the pressing challenges of the real estate industry, Ruminda highlights the current economic crisis in the country, which has resulted in a surge in the cost of building construction and materials. Consequently, many individuals and families with valuable skills are now prioritizing migration to other regions, thus, the lack of skilled labour is a raging challenge.
Taxes affect the real estate industry in various ways too, both positive and negative. While property and transfer taxes can generate revenue for local governments to utilize for public services and infrastructure, they can also increase the cost of homeownership and real estate investment, thereby restricting access to housing and diminishing investment in the industry.
In the current real estate environment, developers must possess a well-defined vision for their projects. Given the nation’s ongoing crisis, Ruminda explores the approaches adopted to ensure a positive future. He aims to utilize new construction technology that minimizes environmental damage and enables sustainable project development. Additionally, he intends to leverage digital technology to introduce novel concepts, such as ‘Prime Hot Deals’ – the first-ever E-commerce website for online property purchases. Another possibility is testing the implementation of AI (Artificial Intelligence) for future developments.
To become a thriving CEO, possessing a vision alone is insufficient. Success necessitates diligence, commitment, and the ability to motivate and inspire others to achieve common goals. Throughout his career, Ruminda has been fortunate enough to embody these qualities, resulting in his success. Under his direction, Prime Lands’ future is promising, and he is poised to accomplish remarkable feats in the years to come.