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Specialist real estate developer Kelsey Development PLC (KDL) recently announced that the company had purchased a 75.1% stake in Pre-Fab Engineering Projects (Pvt) Ltd. for Rs. 90 million.
The disclosure issued to Colombo Stock Exchange further said that the Pre-Fab Engineering (Pvt) Ltd is a construction company with a net worth of Rs. 85 million. The company is specialized in Construction of Commercial & Residential Buildings and Supply, Installation, Fabrication, Plumbing and Building Maintenance Services.
Incorporated in 1983, Kelsey Developments PLC provides specialist operations in real estate development through two fully-owned subsidiaries – Kelsey Homes (Private) Limited and Kelsey Property Developers (Private) Limited (collectively the Group). The Company has been listed on the Colombo Stock Exchange (CSE) since 1984 and it covers a full client service spectrum from land acquisition and sale to the design and development of gated communities and apartments.