A fully owned subsidiary of People's Leasing Company Limited, People's Leasing Property Development Limited was established on 15th August 2008. The company is principally involved in carrying out office development projects such as office complexes. It was established to diversify PLC's business objectives on recognising the booming demand for office spaces and quality housing project solutions.

People's Leasing Property Development Limited is in the process of constructing People's Leasing's new Head Office Building in Borella, a 12-storey structure expected to be completed in 2011. Having completed this landmark BOI-approved project, plans are underway for the subsidiary's expansion of business activities. Among the new projects undertaken by the company are Havelock Properties and Nawala Residencies.