Sri Lanka’s Arcade Independence Square set for major transformation by December
The Morning: Arcade Independence Square is set to undergo a dynamic transformation by December, positioning itself as Colombo’s premier food and beverage destination while simultaneously introducing a state-of-the-art 10,000 sq ft co-working space designed to attract entrepreneurs, creatives, and professionals to the heart of the city.
Speaking to The Sunday Morning Business, Softlogic Holdings PLC Leisure Sector and Group Asset Management Chief Executive Officer (CEO) Sid Solanki stated that Arcade Independence Square was entering a bold new chapter, transforming into the city’s leading food and beverage destination.
He said that with a renewed vision and strategic repositioning, Arcade would curate a vibrant mix of culinary experiences, bringing together celebrated local eateries, international brands, and innovative food concepts.
Solanki added that with this transformation, which would be fully in effect by December, Arcade would be elevated into a dynamic lifestyle hub, where timeless architecture met contemporary indulgence.
“We are reimagining Arcade Independence Square not just as a retail space, but as a culinary and cultural experience,” he stated.
“Our goal is to create a destination that resonates with Colombo’s evolving urban lifestyle, offering something truly unique for both locals and tourists.”
Solanki further noted that, as part of the transformation, Arcade would be restructured into three distinct zones: a restaurant zone, a casual dining zone, and a lifestyle zone.
According to him, the restaurant zone, which overlooks the Victorian lawns, will showcase a curated selection of seven premium dining establishments.
These include Department of Coffee, May’s Table offering urban Thai cuisine, The Terrace by Koluu, Nidahas Bar featuring Sri Lanka’s finest arrack, We Ai Family, which is Sri Lanka’s first conveyor belt hot pot restaurant, and Sober Social, the country’s first non-alcoholic bar.
In addition to these, several international food brands and a new bar are set to make their debut in Sri Lanka by the end of the year.
Solanki noted that the agreement with the Department of Coffee would be entered into soon.
Commenting on the casual dining zone, he noted that it would be tailored for relaxed, everyday dining, featuring a diverse mix of quick-service and informal eateries.
Among the highlights are Burger King; Domino’s; Blooming Breakfast, which will involve a unique 24×7 concept; and Vito’s Pizza. Complementing these will be 10 innovative food truck concepts, collectively fostering a vibrant, family-friendly atmosphere that encourages spontaneity and social connection.
According to him, the lifestyle zone will feature a proposed 10,000 sq ft co-working space complemented by a curated café experience, specifically designed to support start-ups, entrepreneurs, and small businesses.
Adding to its cultural appeal, the zone will also house the Colombo Wax Museum, which is scheduled to open in Q3 2025.
OSL take:
Sri Lanka’s ongoing economic activities and overall economic expansion have resulted in a host of development/expansion programmes being carried out in the country’s commercial capital, Colombo, and many other parts of the country. With Sri Lanka on the path to becoming a hub in the South Asian region, there are business/investment opportunities emerging in all key economic sectors in the country, especially due to the need to be on par with the fast-evolving global standards of regional business/trade/tourist hubs. The many business/investment opportunities currently emerging in Sri Lanka also include the development and expansion of infrastructure as well as supplementary infrastructure facilities required to meet the increasing demand. It is in such a backdrop that the Sri Lankan authorities are looking at further developing and expanding the iconic landmarks in Colombo as business as well as tourist destinations. Given the increasing business potential in Sri Lanka and the expanding opportunities, foreign businesses/investors could confidently expand the emerging lucrative business/investment ventures in Sri Lanka while also looking at engaging in them through local collaborations.
| Article Code : | VBS/AT/20250815/Z_10 |