Sri Lanka’s real estate industry, once a male-dominated domain, is witnessing a refreshing shift. Women are increasingly taking center stage, bringing their unique perspectives and leadership styles to the table. Drawing upon her robust business acumen, Minoli Wickramasinghe has been instrumental in steering Capital TRUST Properties toward success. Her visionary leadership as the Managing Director of the company has propelled it to notable achievements, marked by pioneering projects, the delivery of top-tier developments, and the promotion of sustainable growth within the real estate sphere. Widely acknowledged and respected in the industry, Minoli’s dedication, expertise, and pursuit of excellence have cemented her reputation.
From Boardrooms to Building Dreams
Minoli Wickramasinghe, the founder of Capital TRUST Properties (Pvt) Ltd, (CTP) reflected on the origins of her company. It had modest beginnings, confined to a single room with just two employees. Real estate wasn’t merely a career for her; it was a profound passion coursing through her veins. What fueled her most was the longing for a more ethical and professional approach within Sri Lanka’s real estate realm. She envisioned a company that excelled in professionalism and upheld ethical and moral standards. This vision became the ethos that CTP embraced and diligently worked towards.
Minoli brings a wealth of experience to her current role as Executive Director of Capital TRUST Holdings Limited and head of its real estate cluster. Her career began at prominent institutions like DFCC Bank and Maersk Lanka, where she honed her financial acumen. Throughout her academic career, Minoli Wickramasinghe studied in Nigeria, Australia, and Hong Kong, fostering a global perspective she now brings to Sri Lankan business.
Holding both a BBA and MBA from Edith Cowan University in Perth, Australia, she combines academic excellence with real-world experience. Driven by a desire to empower others, Minoli then founded Skills Lanka Limited and served as its Director and Head of Corporate Training. In this role, she was crucial in equipping employees from Sri Lanka’s leading companies with the skills necessary for success.
Global Vision with Local Strength
Capital TRUST Properties has strategically aligned itself with four renowned global entities in the real estate sector: Knight Frank, CBRE, Colliers, and Sotheby’s. Through these partnerships, the company establishes itself as a formidable presence in the global market. It has earned a reputation for its meticulous due diligence services, particularly for foreign multinational corporations (MNCs) seeking entry into the Sri Lankan market.
The firm has nurtured strong bonds with commercial landlords spanning all building classifications, fostering deep interconnections with stakeholders. Bolstering its innovative edge is an IT subsidiary, instrumental in crafting a robust property application. Commitment to remaining abreast of global real estate trends and advisory practices underscores the company’s dedication to maintaining a leading position within the industry.
Fabricating a Real Estate Powerhouse
Minoli Wickramasinghe has been honored with the ‘Top50 Professional & Career Women Global Award’ in the Real Estate and Construction Sector. She received her award at the Global Awards Ceremony held at the Shangri-La Colombo. Capital TRUST Properties celebrates her accomplishments with great pride, viewing them as a testament to the company’s dedication to nurturing a diverse and inclusive workplace where women professionals can flourish. As a subsidiary of Capital TRUST Holdings, CTP stands as a frontrunner in Sri Lanka’s real estate sector. Its core activities include property investments, brokering, management services, and development. The company has orchestrated numerous strategic deals in collaboration with government authorities, boasting a team of 90 brokers and over 400 registered agents.
According to Minoli, “ Awards rarely contribute to the organization’s credibility and reputation – it’s a matter of how a business conducts itself daily, and its professionalism, competence, morals, and ethics – these factors place it above competitors, thereby achieving a worthy goal. An award is merely public recognition of this achievement.” She adds that it is important to ensure fairness in rankings and awards, transparent criteria and objectives must be set. Ethical assessments by an impartial expert panel of reputable organizations and individuals are essential. Rankings should be based on ethical principles to avoid unfair outcomes and protect the interests of customers, investors, and stakeholders.
The Power of Integrity
The CTP steadfastly adheres to ethical principles while many competitors opt for shortcuts. Despite facing challenges, including encounters with multinational agents attempting unethical practices, the company remains resolute, ultimately securing victories and earning client trust. These clients, even global entities, now refrain from engaging with unethical agents. As a local brand, CTP maintains an untainted ethical and professional reputation in all its endeavors. Reflecting on the journey, the founder never anticipated such achievements through staunch adherence to ethical principles, especially in a developing country where unethical behavior is often normalized.
However, through unwavering ethical standards and self-belief, CTP has transcended obstacles. The commitment to ethical conduct extends to employees, and the organization actively contributes to the community and country through CSR initiatives focused on sustainable health, education, and female empowerment. By collaborating with government bodies including commercial and residential property buyers and sellers CTP adds better value to the customer experience. As the leading property transactional company, it stays well-informed about the industry dynamics and makes informed decisions that can benefit its stakeholders.
Reforming the Landscape of Industry
Presently, CTP faces various challenges, notably stemming from the substantial taxation in the form of VAT. Despite ongoing demand, there exists a market mismatch. While the company operates within regulated parameters, the broader sector needs more regulation, resulting in limited buyer knowledge and understanding. This disconnect affects the alignment of available properties, pricing, and actual demand.
Foreseeing a slowdown in demand until conditions improve, efforts are underway to reform specific land ownership laws to facilitate foreign ownership. Nonetheless, a significant hurdle persists as the banking system exhibits caution in lending to the real estate sector, potentially hindering growth.
| Minoli Wickramasinghe gives the following pieces of advice to aspiring professionals looking to excel in the real estate industry: Perseverance is essential: Passion drives relentless pursuit in the career.Prioritize ethical conduct: Upholding ethical and correct practices is paramount.Commitment to community: Capital TRUST Properties is dedicated to giving back.Support for the health sector: Passionate about aiding healthcare initiatives.Promotion of women’s empowerment: Actively engaged in advancing opportunities for women.Advocacy for education: Committed to enhancing educational access and quality.Corporate social responsibility (CSR) projects: Engaging in rewarding initiatives within health, women’s empowerment, and education sectors. |
Prioritizing Technology Adoption
Capital TRUST Propterties capitalize on tech advancements to enhance their offerings by prioritizing technology adoption and undertaking digitalization across functions. These strategies help to enhance efficiency and accuracy, and provide added value and convenience on property needs to all stakeholders in addressing property needs. CTP is expanding its service offerings by establishing Capital TRUST Valuations, aiming to provide comprehensive property services while maintaining independence. The company remains dedicated to professionalism, ensuring that clients receive A-Z solutions.
Additionally, the successful venture into short-stay accommodations with owned apartments highlights the commitment of the company to maintaining high standards. Anticipating significant growth in the property sector in 2024, CTP is closely monitoring favorable conditions in the country. As a socially responsible entity, it leads impactful health, education, women’s empowerment, diversity, and inclusion initiatives. Its CSR projects concentrate on these areas, showcasing its commitment to making a positive societal impact.
Bedrock of Trusted Principles
Since spearheading the expansion of stockbroking in 2010, Minoli Wickramasinghe has steered Capital TRUST Properties to become the foremost property transaction company in Sri Lanka, boasting a network of devoted clients and employees. Fueled by the trust of its clients, CTP was the pioneer in implementing a systematic approach to real estate in Sri Lanka. As a proud trailblazer and leader guiding the company through this establishment phase, Minoli takes great pride in the dedication and work ethic she has cultivated within herself and her company.
Continuing to derive immense satisfaction from serving her clients with excellence, Minoli Wickramasinghe guides Capital TRUST Properties with a steadfast commitment to trust, which the company values as its paramount asset. The company endeavors to advance on the bedrock of trusted principles and exemplary professionalism by fostering genuine connections with clients. Minoli, at the helm, continues to flourish as a leader, eagerly pursuing new real estate prospects while striking a harmonious balance between her strength as a woman, and blending enduring femininity with sharp business acumen.
A Mindset Fueled by a Pursuit of Excellence
Minoli Wickramasinghe harbors a profound desire to lead as a successful woman in the corporate arena, with the aspiration to motivate other women to pursue their paths with steadfast values. She perceives the journey of change as ignited by a mindset fueled by a pursuit of excellence. Grounded in this philosophy, Minoli continues her personal growth while maintaining equilibrium between her personal and professional realms, all while remaining true to her distinctive identity and life purpose.
Demonstrating a strong commitment to her role as an industry leader and navigating through the challenges of her career journey, Minoli endeavors to uphold the unique essence that sets her apart. She emphasizes the significance of uncovering one’s true self and channeling that energy toward accomplishing goals, viewing it as a pivotal step toward achieving success.
