In September 2014, Gunewardene sold the majority of her shareholdings in Odel PLC to the Softlogic Group for Rs. 2.7 billion, after which Softlogic increased its shareholding and as of 30 June 2016, Softlogic held a 96.67% stake in the company. Softlogic Holdings PLC is a diversified conglomerate in Sri Lanka engaging in multiple industries such as ICT, Healthcare, Retail, Financial Services, Automobiles, and Leisure.
The UDA collected approximately Rs. 10 Million in arrears, adding 11 of the 42 stalls at the premises were shutdown. The UDA board decided to lease it to the private sector to generate greater revenue. Department Of Valuation has forwarded that Rs. 120 Million should be obtained as an annual lease.
It intends to operate and manage Arcade Independence Square premises as a luxury boutique experience destination, adding its cluster of operating and managing high-end shopping malls in the country. Softlogic Group has already leased out considerable floor areas in the country’s leading shopping malls such as One Galle Face and Colombo City Centre.
The arcade with its immaculate appearance provides office spaces, commercial outlets, entertainment rooms and all other facilities while preserving its original architectural design and magnificence and is a testimony to the dedicated service of the troops towards another project of immense value and importance to the country, opening new opportunities for employment and function of offices.
These projects include:
Two decades of insurgency, instability, and conflict led to high rates of poverty in northern Uganda. By 2005, a measure of peace and stability had returned to the region, allowing for the demobilization and reintegration of former combatants and other war-affected populations.
In Sri Lanka, a cash-for-work program initially established to resettle 100,000 returnees following internal conflict actually assisted more than 250,000 returnees and quickly evolved into one of the largest sources of employment in the Northern Province.
The Guidelines on Government Tender Procedure Part II for Private Sector Infrastructure Projects (BOO/BOT/BOOT Projects) Revised Edition of January 1998 and the Procurement Guidelines and Manual of 2006 issued by the Ministry of Finance (successor to the National Procurement Agency) facilitate PPPs.