Sunday, April 28, 2013
Close to Rs. 1 bln investment to reinvent Liberty Plaza
Liberty Plaza is spending upto Rs 964 million to re-develop its mall, the first large-scale mall in Sri Lanka, creating a new experience.
The owning company recently signed an agreement with the Board of Investment for this purpose, according to a company statement.
Under 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.
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 statement said.
“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 fa�ade 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,” it said.
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, a wholly owned subsidiary of Colombo Land & Development Company PLC. Construction began in February 2013 and will be completed within 12 months.
source - www.sundaytimes.lk / colomboland.com