Abans to set up shopping and entertainment malls

By Lalin FERNANDOPULLE

The Abans Group will setup shopping and entertainment malls in Colombo to provide a one-stop shop for customers said Abans Group Chairperson Aban Pestonjee.

She said that Abans had decided to diversify its business due to the vast opportunities and prospects for growth in the country. The Group has identified locations for the multipurpose complexes which will be set up shortly.

“Abans will also construct hotels in Nuwara Eliya and Bentota on land belonging to the company”, Pestonjee said.

“Abans entry into the leisure sector will be an impetus to the tourism industry which is growing at a pace”, she said.

Abans, an agent for leading global brands will go public with plans for expansion. “Abans will be listed as a public quoted company soon for a major expansion drive with more stakeholders”, Pestonjee said.From humble beginnings, Abans has grown to be a vast business entity.

A workshop set up in Pestonjee’s garage in the 1970's to service and repair used items bought from auctions is today a vast business operated from a computerised multi-storied building in Colombo. The workshop which consisted of only one employee, Allan Raffel who was skilled in servicing and repairing electronic appliances comprises over 15,000 employees today.

Pestonejee said that the company was set up during a difficult time when imports were banned. The only way of acquiring home appliances at that time, was through garage sales and auctions by embassy staff, expatriates and those who had returned to Sri Lanka from abroad. Some of these returnees who brought back electrical home appliances later sold them locally to cover the expenses of their trip.“Many have been asking me how did I face that challenge as a woman. I had no problem in going in to auctions and buying items”, she said.

“Our focus is on introducing eco-friendly and energy saving products. Consumer needs have changed and the company is geared to cater to the growing demand for sophisticated products “ she said.