Odel to manage Arcade Independence Square

Odel PLC has announced that it has entered into a Lease Agreement with the Urban Development Authority, via which the former has been granted the rights to lease, operate and manage the Arcade Independence Square for 10 years from 1 April.

The agreement has the option to review for a further 10 years subject to terms and conditions.

Odel intends to operate and manage the Arcade Independence Square as a luxury boutique experience destination, adding to 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 its objectives of imprinting Sri Lanka as a high-end shopping destination in the region,” Odel said in a disclosure to the Colombo Stock Exchange.