Giant ODEL store at Shangri-La mall at Galle Face, Colombo

Business

ODEL, the premier department store owned and managed by Softlogic Holdings, made two major announcements on Tuesday – taking ‘giant’ space at the proposed Shangri-La mall in Galle Face, Colombo and investing US$105.7 million in its proposed Ward Place development.
ODEL said it was leasing out 54,454 sq feet at “The Mall at One Galle Face” and signed a 5-year lease with Shangri-La Hotels Lanka Pvt Ltd for this purpose. The Shangri-La hotel and mixed development project, on the old army headquarters property, is due to open later this year.
The company also said in the announcement to the Colombo Stock Exchange that it has signed an agreement with the Board of Investment for a mixed development project at its Ward Place property in Colombo. – ENDS -

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