The dynamic Blue Ocean Group of Companies, has evolved over the years to become a versatile conglomerate, and adopts an inspired namesake from the “Blue Ocean Concept”; one that describes growth and profit. With a diverse portfolio to its name that includes its flagship brand Blue Ocean Residencies, the Group takes bold strides as it strives to uphold a reputation of ethical, innovative and constructive practices not only in Sri Lanka but in the Asia Pacific region.
By Prasadini Nanayakkara
The Group’s Chairman S Thumilan, with his own illustrious portfolio is instrumental in the Group’s extensive diversification into spheres that include Education, Engineering and Construction, Real estate, Corporate consultancy, Trading, Electrical and Engineering consultancy. However, “to be the most respected, ethically sound and socially responsible company,” has been the base of all of the conglomerate’s many endeavours, explains S Thumilan. Embracing the “Blue Ocean Strategy” that describes the generation of growth and profit through innovation, in a created and uncontested environment, the Group engages in its key markets in Asia Pacific, European, Middle East and East Asian regions.
Specialising in construction and engineering and development, the BOI Approved Blue Ocean Residencies, is the flagship venture of the Group. Covering all aspects of construction, that include construction, design, real estate, facilities management and consultation, its services encompass an umbrella solution to contractors and customers. The company’s building construction services offer both construction and consulting solutions customised to cater to a range of requirements, including the construction of private houses.
“The sheer success of Blue Ocean Residencies is exclusively related with its breadth of services available for clients, under one roof. Because of its ubiquity, Blue Ocean Residencies is able to tailor its services to each and every specific client’s requirement, local and abroad, irrespective of location,” affirms Thumilan.
The brand Blue Ocean Residencies is positioned as the “Smartest Investment to Secure Your Wealth”, which offers higher level of Return on Investment for Sri Lankan and overseas professionals who are looking to invest. It is a branded icon in the property market and it complies with regulations and provides approved plans designed by architects complete with modern amenities.
As such, the layouts are complete with spacious rooms, privacy in access, fresh air ventilation and circulation for a superior modern outlook. Furthermore, convenience is ensured with wide access roads without traffic congestion amidst perfect landmarks. The surroundings are of uncongested, secure residential living environments and the affordable monthly maintenance costs are an added benefit. Buyers are also guaranteed minimum return, property exchange, a flexible payback schedule and support in obtaining Bank Loans. The company’s services also include precise legal documents for the purchase and are assured on-time occupation.
Customers can rest assured with high-profile skilled personnel that form the team and represent the roles of Chartered Architects, Engineers, Accountants, Interior Designers and other industry professionals. Blue Ocean Residencies apartments have residential rooms that are aesthetically designed in an idyllic setting to deliver sophistication with elegance. The private balcony overlooking the sea and the city view accentuates the tranquility. Bedrooms merge luxurious and modern amenities, while entertainment is provided in a sophisticated cosmopolitan setting.
“The Sheer Success Of Blue Ocean Residencies Is Exclusively Related With Its Breadth Of Services That Are Available For Clients Under One Roof. Because Of Its Ubiquity, Blue Ocean Residencies Is Able To Tailor Its Services To Each And Every Specific Client’s Requirement Local And Abroad Irrespective Of The Location.”
Adding to convenience all properties are located right in the heart of Mount Lavinia at College Avenue, Templars Road and Samudra Mawatha and thus are intended for both residential and business purposes. While the apartments will be ready for occupation next year, apartments have already gained ownership by local and foreign clients. The company at present is in preparation to commence a similar undertaking in several other prominent locations next year as well. In the backdrop of a booming property market, Thumilan notes, “where owners now experience higher appreciation of property values, the credit is due to the Government for implementing favourable policies towards the growth of the economy and in turn increased demand for property.” Lower lending rates, low cost loans for property buyers, inflow of long-stay tourists including students, industrial contractors and potential business initiators have greatly increased the demand for property, particularly with regards to apartments. “We are passionate about creating wealth for our customers through property. With enhanced rental income as well as appreciation in property value for owners, the policies also help long-stay foreigners to find affordable rental apartments,” says Thumilan.
One of the Company’s indispensable assets is its highly qualified and experienced human resources including Chartered Architects, Chartered Engineers, Chartered Accountants and other professionals in related fields who have garnered extensive exposure and industry experience locally and abroad. “In comparison with market standards our professionals are highly capable of contributing to real value, through their competency and experience,” acknowledges Thumilan.
While much emphasis is laid on the quality of work clients are further attracted by the sheer volume of work undertaken and delivered within a scheduled time-frame. Coupled with unconventional expert consultation services on property management, development schemes, real estate investment options and other related aspects Blue Ocean Residencies has gradually solidified its prominence in both local and international arenas.
Blue Ocean Residencies not only focuses on traditional construction but also endeavours to develop innovative services to enhance the value of the customer’s property and investment by creating opportunities for customers; for instance, the provision of Property Exchange facilities to prospective customers who are unable to afford liquid cash transaction. With this innovative programme the company purchases prospective customers’ existing island-wide properties in return for setting-off their asset values against the customers’ intended investment values with the company.
Through Sales and Repurchase Arrangements, the Group introduced an innovative method to the Sri Lankan market to enable property investors to earn a higher and more secure income with property security. It guarantees higher returns than traditional investment options such as depositing money in Financial Institutions, that may discount due to inflation and market appreciation. It is the Company’s objective to make property investment a moveable liquid asset enabling investors to cash their properties at the prevailing appreciated market price whenever they wish to dispose their acquired properties. Lastly, through Real estate Advisory and Management, Blue Ocean Residencies provides realistic and accurate market researches and consultations for customers, guiding them to invest in ways they can receive high-yield returns. “We guide customers to the areas based on realistic researches where higher appreciation of land value and deed validity is highly probable. We also help them in arranging tenants, obtaining capital for purchasing lands and property assets and so on,” affirmed Thumilan.
Aside from Blue Ocean Residencies the Group has branched out extensively with a number of subsidiaries. To name a few of its vast portfolio; Knowledge Base Business Studies moulds successful leaders geared to take on the business world; Knowledge Base Associates is one of the leading providers of assurance, tax and financial advisory services through a knowledge-based approach. Blue Ocean Properties is mainly engaged in buying and selling of properties; Blue Ocean Investment opens up opportunities for investors in a lucrative Real Estate Market, and Global Arena focuses on import of high quality, aesthetic furniture from Malaysia, China and Singapore.
The Group’s KBBS – Knowledge Base Business Studies is a pioneer institute specialising in conducting classes for major professional accountancy bodies such as ACCA, CIMA, CA Sri Lanka and ICEAW and has produced many success stories in the history of accountancy profession in Sri Lanka by obtaining numerous prizes for the best performance in the professional accountancy courses. Since its inception, KBBS has nurtured many ACCA affiliates and also produced 16 subject prize winners in ACCA and CA Sri Lanka and has become a trusted institution in Sri Lanka with the reputation of grooming students into qualified accountants and accounting professionals who are well sought after by employers.
This exceptional performance can be directly attributed to KBBS and Sri Lanka’s seasoned panel of lecturers. “Our institute is formed by some of the leading lecturers in Sri Lanka whose sole motive is to create a revolution in the accountancy profession by producing accountants who are not only paper qualified but also have the ability to work in a dynamic and practical environment,” states Thumilan. KBBS continually aims to lay its prime focus on serving the community at large and delivers socially responsible and acceptable citizens to its stakeholders. The Group’s Knowledge Base Associates is one of the leading providers of Assurance, Tax and Financial Advisory Services through a knowledge-based approach.
The Group attributes its success to the solid strategic direction devised by qualified and experienced corporate planners and transparent professionalism. “As our customer base expands daily locally and globally, we at Blue Ocean Group have a strong vision to be the most respected, ethically sound and socially responsible company and I trust this vision will prevail through our achievements, whilst we will also continue to focus on acquisitions and mergers as well as strategic partnerships as a part of the overall strategic intent,” states Thumilan.