Softlogic’s Odel to operate Arcade Independence Square from April

Softlogic Holdings subsidiary Odel PLC yesterday said it entered into an agreement with the Urban Development Authority (UDA) to lease, operate and manage Arcade Independence Square for a period of 10 years commencing from April 1, 2021 with an option to renew for a further 10-year period subject to terms and conditions of the lease agreement.

Odel said it intends to operate and manage Arcade Independence Square premises as a luxury boutique experience destination, adding its cluster of operating and managing high-end shopping malls in the country.
“The company marks this venture as yet another significant milestone in pursuing objectives of imprinting Sri Lanka as a high-end shopping destination in the region.

Softlogic Group has already leased out considerable floor areas in the country’s leading shopping malls such as One Galle Face and Colombo City Centre.