Odel acquires space in CCC premium mall

Odel Plc announced that it has acquired a total area of 39,560 sq. ft. of the Colombo City Centre (CCC), the ultramodern mixed-development venture by the Abans Group and Silver Needle Hospitality of Singapore, which is tipped to be the country’s first premium retail lifestyle mall to be opened by Christmas.

The company in a filing to the Colombo Stock Exchange said: “Odel Plc and its subsidiary Softlogic Brands Ltd. have come to an agreement with Colombo City Centre Partners Ltd. to utilise a total area of 39,560 sq. ft of the Colombo City Centre Mall.” According to the stock filing, Odel Plc will acquire 19,237 sq. ft of retail space for the Odel Department Store and Odel Sports Store, while Softlogic Brands Ltd. will obtain 20,323 sq. ft of retail space to accommodate its international brands.

The shopping mall situated opposite Beira Lake Colombo will create the first international standard mall and a unique retail experience for Sri Lankans. The mixed development venture also includes a 200-room Next branded hotel and luxury apartments to be opened by October 2018.