Odel to buy retail space at Colombo City Centre

Odel PLC, the lifestyle and fashion retailer of the Softlogic group, yesterday said it would mark its presence in Colombo City Centre, a mixed development project under construction by the Abans group in collaboration with Singapore’s SilverNeedle Hospitality, opposite the Beira Lake. 
“Odel PLC wishes to announce that the company and its subsidiary, Softlogic Brands (Private) Ltd, have come to an agreement with Colombo City Centre Partners (Pvt.) Limited of No. 498, Galle Road, Colombo 7, on June 7, 2017, to utilize a total area of 39,560 sq. ft. of Colombo City Centre Mall,” a stock market filing by Odel said.

According to the filing, Odel will acquire 19,237 square feet of retail space for Odel Department Store and Odel Sports Store while Softlogic Brands will acquire 20,323 square feet of retail space to accommodate its international brands.
The filing did not disclose the terms of the deal. 
The Softlogic group represents an array of global brands, which include Panasonic, Samsung, Dell, Nokia, Pama, Pepe Jeans Nike, Giordano, Levis, Mango, Cisco, Microsoft, Burger King and Ford, among many others.