April 18, 2019

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    President to open Independent Arcade today Featured

    July 13, 2014

    President Mahinda Rajapaksa will commission the Independent Arcade - the second phase of the Independence Square Development Project today (13).


    The Urban Development Authority with the assistance of Sri Lanka Army refurbished and renovated the area adjacent to the Independent Square in accordance with the guidelines provided to them by the Department of Archaeology.


    The project includes the development of the area adjacent to Independence Square and refurbishment of the former Auditor General’s Department building. The building that had been an eyesore owing to haphazard development projects, was refurbished by the UDA under the Independence Square Development Project with the inputs and expertise of several disciplines within the UDA including town planners, architects and engineers. The renovation activities of this building complex were carried out without damaging its archaeological and original architectural value.


    This building complex is 90,000 square feet in extent, including open areas. An extent of 40,000 square feet is to be leased out to the private sector for shops and restaurants.


    The long term management mechanism of leasing buildings for shops and restaurants anticipates initial development costs to be recovered within a shorter period of time.


    The Race Course building complex and adjacent areas were developed under the first phase of the project‑ and the race course and the adjacent areas are open to the public. The UDA invested Rs. 500 million on this project. (HC)


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