Fairway Holdings has announced its leadership transition from the late Hemaka de Alwis to Virath de Alwis, who is to assume duties as Chairman in his place, a statement released by the real estate and hospitality conglomerate has said.

The statement read: “The home-grown conglomerate is now set to embark on its next phase of growth under the leadership of Virath de Alwis, who assumes the role of Chairman.”

Hemaka de Alwis, Late Chairman of Fairway Holdings, is widely regarded as a visionary in the Sri Lankan real estate industry, having led the company’s evolution from a pioneer in real estate to a diversified conglomerate. 

Virath’s journey with Fairway Holdings began when his father fell ill five years ago, prompting him to take on greater responsibilities within the company. Under the guidance of the late chairman, he gained expertise across various business sectors, implementing strategic initiatives to ensure the company’s stability and continuity. His leadership has been instrumental in steering Fairway Holdings through unprecedented challenges, including the economic crisis, strengthening its resilience and driving continued growth.

Supporting Virath in driving Fairway Holdings forward is a highly experienced senior management team, with Fairway Holdings Group Chief Executive Officer Ashean Karthelis, playing a pivotal role in shaping the group’s strategic direction. 

With over two decades of expertise in the banking, financial services, and insurance (BFSI) sector, Ashean brings a deep understanding of financial management, risk assessment, and market dynamics.