diff --git a/.github/workflows/pull_request_full_build.yml b/.github/workflows/pull_request_full_build.yml
index 1cf1874d71ba..659569720513 100644
--- a/.github/workflows/pull_request_full_build.yml
+++ b/.github/workflows/pull_request_full_build.yml
@@ -128,8 +128,8 @@ jobs:
 
       - name: Update Observe Module Version
         run: |
-          OBSERVE_VERSION=1.4.0-20241220-100300-6b4cf7a
-          OBSERVE_INTERNAL_VERSION=1.4.0-20250103-120100-3c54658
+          OBSERVE_VERSION=1.5.0-20250304-140800-d60274b
+          OBSERVE_INTERNAL_VERSION=1.5.0-20250305-160800-51dc066
           for module_name in $(jq -r '.standard_library| .[] | select(.level==${{ matrix.level }}) | .name' extensions.json); do \
           perl -pi -e "s/^\s*observeVersion=.*/observeVersion=${OBSERVE_VERSION}/" ${module_name}/gradle.properties && \
           perl -pi -e "s/^\s*observeInternalVersion=.*/observeInternalVersion=${OBSERVE_INTERNAL_VERSION}/" ${module_name}/gradle.properties; \
diff --git a/compiler/ballerina-lang/src/main/java/io/ballerina/compiler/api/Types.java b/compiler/ballerina-lang/src/main/java/io/ballerina/compiler/api/Types.java
index d3e4c904b6df..99290cd87ff1 100644
--- a/compiler/ballerina-lang/src/main/java/io/ballerina/compiler/api/Types.java
+++ b/compiler/ballerina-lang/src/main/java/io/ballerina/compiler/api/Types.java
@@ -63,6 +63,7 @@ public abstract class Types {
     public final TypeSymbol BYTE;
     public final TypeSymbol COMPILATION_ERROR;
     public final TypeSymbol REGEX;
+    public final TypeSymbol RAW_TEMPLATE;
 
     protected Types(CompilerContext context) {
         this.context = context;
@@ -92,6 +93,7 @@ protected Types(CompilerContext context) {
         this.BYTE = typesFactory.getTypeDescriptor(symbolTable.byteType);
         this.COMPILATION_ERROR = typesFactory.getTypeDescriptor(symbolTable.semanticError);
         this.REGEX = typesFactory.getTypeDescriptor(symbolTable.regExpType);
+        this.RAW_TEMPLATE = typesFactory.getTypeDescriptor(symbolTable.rawTemplateType);
     }
 
     /**
diff --git a/distribution/zip/jballerina/bin/bal b/distribution/zip/jballerina/bin/bal
index 8004aa5d3c40..c4de1f59bff4 100755
--- a/distribution/zip/jballerina/bin/bal
+++ b/distribution/zip/jballerina/bin/bal
@@ -216,7 +216,7 @@ fi
 BALLERINA_CLASSPATH=$BALLERINA_CLASSPATH:$BALLERINA_CLASSPATH_EXT
 
 CMD_LINE_ARGS="-Xbootclasspath/a:"$BALLERINA_XBOOTCLASSPATH" \
-               -Xms256m -Xmx1024m \
+               -Xms256m -Xmx2048m \
                -XX:+HeapDumpOnOutOfMemoryError \
                $JAVA_OPTS \
                -classpath "$BALLERINA_CLASSPATH" \
diff --git a/tests/ballerina-compiler-api-test/src/test/java/io/ballerina/semantic/api/test/TypesTest.java b/tests/ballerina-compiler-api-test/src/test/java/io/ballerina/semantic/api/test/TypesTest.java
index e10ce2d2076d..05be3e965ebd 100644
--- a/tests/ballerina-compiler-api-test/src/test/java/io/ballerina/semantic/api/test/TypesTest.java
+++ b/tests/ballerina-compiler-api-test/src/test/java/io/ballerina/semantic/api/test/TypesTest.java
@@ -39,6 +39,7 @@
 import io.ballerina.compiler.api.impl.symbols.BallerinaStreamTypeSymbol;
 import io.ballerina.compiler.api.impl.symbols.BallerinaStringTypeSymbol;
 import io.ballerina.compiler.api.impl.symbols.BallerinaTypeDescTypeSymbol;
+import io.ballerina.compiler.api.impl.symbols.BallerinaTypeReferenceTypeSymbol;
 import io.ballerina.compiler.api.impl.symbols.BallerinaXMLTypeSymbol;
 import io.ballerina.compiler.api.symbols.ClassSymbol;
 import io.ballerina.compiler.api.symbols.ConstantSymbol;
@@ -149,6 +150,7 @@ private Object[][] getBuiltInTypes() {
                 {types.JSON, JSON, BallerinaJSONTypeSymbol.class},
                 {types.BYTE, BYTE, BallerinaByteTypeSymbol.class},
                 {types.COMPILATION_ERROR, COMPILATION_ERROR, BallerinaCompilationErrorTypeSymbol.class},
+                {types.RAW_TEMPLATE, TYPE_REFERENCE, BallerinaTypeReferenceTypeSymbol.class}
         };
     }