Sri Lanka, Oct. 1 -- When most people think of real estate in Sri Lanka, they think of soaring land values, premium apartment towers and the construction cranes dominating the Colombo skyline. Yet the economic power of real estate goes far beyond bricks and mortar. By 2030, the sector could have a decisive role in how Sri Lankans live, work, invest and build businesses.

Real estate shapes the physical spaces where economic activity happens. A well-planned development can attract foreign direct investment, generate skilled employment and transform communities. Poorly planned expansion, creates congestion, raises living costs, strains public infrastructure and separates communities from economic opportunity. The question for 2030 is whethe...