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The Department of Building Economics at the University of Moratuwa was founded in 1983 under the patronage of the late Professor Siri Caldera. It is currently the pioneer state-owned Sri Lankan institute to offer undergraduate degree programmes in Quantity Surveying and Facilities Management.
The Department started self-funded Masters programmes in Project Management in 1996, Construction Law and Dispute Resolution in 2011 and Occupational Safety and Health Management in 2013.
The Department of Building Economics made a landmark achievement when it received accreditations for the Honours Degree of Bachelor of Science in Quantity Surveying programme from the Institute of Quantity Surveyors Sri Lanka (IQSSL), Royal Institution of Chartered Surveyors (RICS), Australian Institute of Quantity Surveyors, Chartered Institution of Civil Engineering Surveyors (CICES) and Pacific Association of Quantity Surveyors (PAQS) in 1986, 1997, 1998, 2010 and 2011 respectively. The Honours Degree of Bachelor of Science in Facilities Management programme also received RICS accreditation in 2006 and IFMA accreditation in 2019.