Maldives Becomes One of Sunken Jen's Top Markets with $900 Million Revenue

The Maldives has emerged as one of the largest revenue-generating markets for Sri Lankan conglomerate Sunken Jen's overseas projects, according to a report by Sri Lanka's Daily Mirror. Over the past five years, the company's projects in seven countries have generated $900 million in revenue, with the Maldives ranking ahead of Seychelles, India, Bangladesh, Kenya and Myanmar, the report said. Formerly operating as Sunken Overseas, the company has completed 36 projects in 10 cities. In the Maldives' tourism sector, it has carried out major projects including The Ritz-Carlton Maldives and the development of Fari Islands. Sunken Jen is also continuing work to renovate and expand resorts. According to reports citing the company's project list, recent projects include renovations at Vakkaru Maldives and W Maldives, as well as the addition of ocean villas at Robinson Club Maldives. Sunken Jen is now preparing to expand its business into Saudi Arabia, Australia and Fiji, with reports saying offices have already been established in those countries. Company Chief Executive Officer Mayvan Gunathilaka said discussions are ongoing regarding projects in new markets and some work could begin soon. As the company marks 50 years, it is expanding beyond construction into other sectors. According to the Daily Mirror report, plans have been decided to develop high-end resorts in Sri Lanka's Ella and southern regions at a standard similar to those in the Maldives. Projects in renewable energy in Africa and the Pacific region are also being planned, while the company invested in CEL Synergy last year and entered the logistics sector. Chief Operating Officer Dulisha Wijayasiri said more than 300 staff and over 11,000 workers are active in overseas projects, most of them Sri Lankans. Sunken Jen said a portion of the revenue earned abroad is sent back to Sri Lanka, contributing to the country's economy. The Daily Mirror noted that while the Maldives' tourism industry relies on international companies to develop and renovate major resorts, this presents an opportunity for such firms.