Rs 600 mn expansion to Liberty Plaza
Colombo Land and Development Company PLC which completed Sri Lanka’s
first ever international standard shopping mall Liberty Plaza in 1982
laid foundation on February 14, for an Rs 600 million expansion to the
shopping mall under the patronage of Lakshman Yapa Abeywardena, Minister
of Investment Promotions.
The minister also declared opened the new specialty multi cuisine
restaurant at Liberty Plaza named “Seasons” which will be a first
restaurant of its kind, all under one roof serving cuisines like
North/South Indian, Sri Lankan, Western and Oriental.
UDA Chairman Nimal Perera commending the efforts of the Management of
Colombo Land said it has proven to be the most dynamic associate company
of the UDA.
Currently Colombo Land was performing beyond expectations of the UDA
proving that a true private/public partnership can deliver an effective
solution to solve urban development issues in and upwardly mobile
society.
Nimal Perera said that when the children were performing it is the
father who takes pride in the achievements. Hence UDA is extremely happy
and proud of the strategic and proactive approach CLDC was taking in
those efforts.
CLDC was set up in early 80s as public private partnership between a
Singaporean property development company, Clarissa private limited and
UDA for the purpose of undertaking infrastructure development projects.
After completing Liberty Plaza in 1982 it also built the peoples park
shopping complex in Pettah. Being a public listed company, 73% CLDC
shares were currently held by Sri Lankan institutes and individuals. UDA
was one of the largest institutional shareholders with 17.5%.
While the Liberty Plaza expansion and the adjacent new Liberty Arcade
shopping mall will create more retail space along the Duplication Road,
the next major project of the CLDC will be the Liberty Square in Pettah.
The UDA Chairman said that this joint project of UDA and CLDC will
help modernization of Pettah and will result in a major transformation
of the City’s outlook.
He said there were several infrastructure development projects that
have been undertaken by CLDC. These developments were adding great value
to the Urban Development efforts of UDA spearheaded by Gotabhaya
Rajapaksa, the Secretary of Defense.
Ng Eng Ghee brought in a substantial foreign investment to the
country to successfully complete the first ever international standards
shopping mall in Liberty Plaza.
CLDC being a partner company of UDA is confident that it will able to
meet all the set targets and add capacity to the city to become an
efficient partner to make the Government's vision of making Sri Lanka
the Wonder of Asia.
This event was also graced by Namal Rajapaksa MP, Nimal Perera,
Chairman UDA and Nihal Fernando, Director General UDA.
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