Blue Ocean Group Marks Over a Decade of Industry Leadership, Strategic Acquisitions, and International Recognition
Colombo, Sri Lanka — Blue Ocean Group of Companies, one of Sri Lanka’s most professionally governed and diversified real estate and construction conglomerates, today commemorates over a decade of sustained industry leadership, defined by disciplined growth, strategic acquisitions, and increasing international recognition.
Established in 2009—a defining year in Sri Lanka’s post-conflict economic transition—Blue Ocean Group was founded by Sivarajah Thumilan with a long-term vision to contribute meaningfully to the nation’s built environment. Beginning operations as a single construction entity, the Group has since evolved into a multi-sector organization with interests spanning real estate development, construction engineering, interiors, logistics, education, and advisory services.
Measured Growth and Market Expansion
Over the past decade, Blue Ocean Group has played a formative role in broadening Sri Lanka’s residential property market. At a time when development activity was largely concentrated within central Colombo, the Group adopted a forward-looking strategy by introducing high-quality luxury and semi-luxury apartment developments in emerging urban and suburban locations. This approach supported the decentralization of residential development and expanded access to professionally managed apartment living.
Today, the Group’s development footprint spans more than 20 cities island-wide, including Colombo, Mount Lavinia, Dehiwala, Nugegoda, Ja-Ela, Nuwara Eliya, Kandy, and Jaffna. Through this geographically diversified presence, Blue Ocean Group has strengthened investor confidence in regional real estate markets while contributing to balanced urban growth across Sri Lanka.
Acquisition of Kelsey Development PLC
As part of its long-term institutional transformation and capital-market–oriented growth strategy, Blue Ocean Group has successfully completed the acquisition of Kelsey Development PLC, a publicly listed real estate development company. This transaction represents a defining milestone in the Group’s strategic evolution from a privately driven enterprise to a professionally structured, transparent, and institutionally governed organization.
Kelsey Development PLC brings a strong institutional pedigree and a well-established public-market operating history. The company was originally established under John Keells Holdings PLC and was subsequently acquired by Janashakthi Group, under whose ownership it operated as a listed real estate development entity. Throughout its corporate history, Kelsey Development PLC has functioned within a regulated public-market framework, adhering to rigorous governance standards, statutory disclosure requirements, and regulatory oversight.
The acquisition materially strengthens Blue Ocean Group’s corporate governance framework, financial reporting discipline, and compliance architecture, aligning the Group more closely with capital-market best practices. Through this integration, the Group enhances its capacity to access structured sources of capital, implement robust internal controls, and operate within an elevated accountability and risk-management environment.
Strategically, the transaction expands the Group’s development platform and positions Blue Ocean Group to undertake larger-scale; institutionally structured projects supported by disciplined capital allocation, enhanced oversight, and long-term sustainability considerations. The acquisition underscores the Group’s commitment to prudent capital stewardship and the creation of enduring value for shareholders and stakeholders.
Vertical Integration through Link Engineering
A critical inflection point in the Group’s operating model was the acquisition of Link Engineering, a construction firm with over four decades of experience in delivering complex commercial, residential, and institutional developments. This strategic integration places Blue Ocean Group among a select group of Sri Lankan developers with fully integrated, in-house construction and engineering capabilities.
Through Link Engineering, the Group maintains direct oversight of architectural design, structural and MEP engineering, construction management, ready-mix concrete production, aluminum fabrication, interior finishing, landscaping, and quality assurance. This vertically integrated structure enables enhanced quality control, disciplined cost management, and consistent project delivery across the portfolio.
Design Excellence, Sustainability, and Governance
More Read
Blue Ocean Group’s developments are characterized by contemporary architectural design, functional planning, and environmentally responsible construction practices. The Group’s emphasis on delivering affordable luxury has broadened access to premium residential living while maintaining high standards of quality and durability.
Sustainability is embedded within the Group’s development philosophy. Energy-efficient systems, natural ventilation, water-conservation measures, and responsible material selection are integrated across projects, aligning operations with global Environmental, Social, and Governance (ESG) standards and supporting long-term environmental stewardship.
International Recognition
The Group’s commitment to quality and governance has been recognised through multiple international accolades. Blue Ocean Group has been named Sri Lanka’s Best Developer at the Property Guru Asia Property Awards, alongside awards for architectural design, interior excellence, and sustainable development. Additionally, the Group has been recognised among Asia’s Greatest Brands & Leaders by AsiaOne Magazine and URS, an evaluation endorsed by PwC.
Outlook
As Blue Ocean Group enters its next phase of development, the focus remains on responsible scaling, strengthened governance, and international competitiveness. The Group continues to enhance its premium and luxury development portfolio, adopt advanced construction and project-management technologies, and pursue strategic partnerships with local and international investors. A key long-term objective remains achieving global recognition as a Best International Property Developer, reflecting sustained excellence in design, construction quality, sustainability, and customer confidence.
“Blue Ocean Group has been built on professional integrity, disciplined execution, and long-term responsibility,” said Sivarajah Thumilan, Chairman of Blue Ocean Group of Companies. “Our strategy remains focused on creating enduring value through strong institutions, integrated capabilities, and developments that meet international standards while contributing meaningfully to Sri Lanka’s economic progress.”
With a strong leadership structure, an integrated operating model, and a people-driven organizational culture, Blue Ocean Group of Companies continues to set benchmarks in Sri Lanka’s real estate and construction sectors anchored in integrity, quality, and sustainable value creation.
