Plans are underway to convert the Unity Plaza in Colombo similar to that of Singapore’s ‘Sim Lim Square’, which is an imperative part of Singapore’s IT industry.
According to the Sunday Morning, Sri Lanka’s Lanka Realty Investments (LRI) looks to replicate that transformation, with the once popular Unity Plaza.
LRI made a strategic acquisition cum takeover of On’ally Holdings, the owners of Unity Plaza this week. The deal was struck with the intention of transforming Unity Plaza into a grade A property in the heart of Colombo.
LRI aims to capitalise on Unity Plaza’s longstanding and already established brand image to turn it into an attractive space for both consumers and occupants.
The real estate’s plan is to convert this space into a hub of technology that will attract consumers for reasons not limited to just purchases, but a holistic experience that goes beyond traditional shopping for IT goods.
According LRI’s plan, Unity Plaza will be converted in to Colombo’s most popular IT retail and distribution space, apart from making it a profitable real estate venture. (NewsWire)