The Arcade Independence Square shopping complex which was under the Urban Development Authority has been handed over to the Softlogic Holdings PLC under a 10-year- lease agreement.
According to the Government Information Department, under the agreement, Softlogic Holdings PLC has been granted the management, barring ownership, of the shopping complex.
Chairman of Softlogic Holdings PLC Ashok Pathirage said his company intends to develop the shopping complex as a luxury shopping mall.
He further said the Arcade Independence Square is located at a central point in Colombo and therefore, his company will focus on developing it into a luxury mall in the area. (NewsWire)