The Arcade Independence Square was leased out to Softlogic Holdings for a period of 10 years after following due tender procedures, State Minister Nalaka Godahewa told Parliament today.
He said the Board of Directors of the Urban Development Authority (UDA) decided to lease out this building as it was running at a loss.
He said it was leased out after following the stringent tender procedure where notices calling for bidders were published in the Newspapers by a procurement committee appointed by the Cabinet.
He said two Companies Softlogic Holdings and Abans PLC had tendered biddings and Softlogic Holdings was chosen by the committee.
The Minister said the company will be paying Rs. 10 million per month as a lease amount.
He said this while responding to a question raised by JVP Leader Anura Kumara Dissanayake who urged the government to reveal the lease agreement.