600 Mn investment to re-vamp Liberty Plaza

Posted on Friday, April 5, 2013 and filed under breakingnews , news . You can follow any responses to this entry through the RSS 2.0 . You can leave a response or trackback to this entry from your site

Liberty Plaza signs up with BOI for 600 Mn investment to re-vamp Liberty Plaza. The total project cost is LKR 964 Mn. Dr Nalaka Godahewa, Chairman, Colombo Land & Development Company PLC. formally received the BOI Certificate of Registrations from Hon Lakshman Yapa Abeywardena, Minister of Investment Promotion.

This proposed project intends to undertake a huge refurbishment process in the near future which will convert the Liberty Plaza to a world class shopping mall as well as an icon in the Colombo city. The following are the main features of the refurbishment/ revamping project of the existing Liberty Plaza.

There will be two floors of retail extending to 20,000 sq.ft each. This proposed addition will be connected to the existing mall on the first and second levels. This development will also include an additional car park deck to cater for the future demand. (New retail podium)

The existing office spaces in the second floor adjoining the new food court will be converted to retail space under the revamping project. This will bring in an additional retail space of 20,000 sq.ft to the existing retail space of Liberty Plaza. Further, a food court will be developed in the 2nd floor which will be operated by a third party.

The proposed face/ skin will wrap around the existing building with two prominent/ large state of the art LED screens. The company is currently looking at the option of having manual advertising holdings for the rest of the façade on the R.A.De Mel Mawatha. With the proposed lighting the building will definitely have a new look like malls in Singapore/ Hong Kong. This will be the highlight of the whole development.

Other than the above developments refurbishment of existing common wash rooms, corridors with the extension of existing escalators will take place under the revamping project. Additionally there will be a pedestrian pathway around Liberty Plaza with features like urban verandas and coffee shops.

This development will be undertaken by Liberty Developers (Pvt) Ltd which is a wholly owned subsidiary of Colombo Land & Development Company PLC. As per the plan construction commenced in February 2013 and will be completed within 12 months. However, the operations of the food court were started in February 2013.

Source:www.news.lk

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