27th August 2019 Colombo: 505, the pioneering branded designer eyewear store in Sri Lanka celebrates its first anniversary on 23rd August 2019 after a year of successful operations. A brainchild of Vision Care Optical Services (Pvt) Ltd, the exclusive Luxottica branded 505 Store is the first of its kind in Sri Lanka. Luxottica Group is a leader in the design, manufacture and distribution of fashion, luxury, sports and performance eyewear and the label features top international designer brands such as Ray-Ban, Vogue, Oakley, Dolce & Gabbana, Prada, Michael Kors, Coach, Bvlgari, Giorgio Armani, Emporio Armani, Burberry, and Versace. The store also has the largest ‘Oakley’ collection in Sri Lanka.
Commenting on the joyous occasion, Srimantha Wewalwala, General Manager of Vision Care said, “Congratulations to the team at 505 on reaching the historic milestone of its first anniversary. It has been a highly successful year for the designer eyewear store, as Sri Lanka’s first branded luxury eyewear store, showcasing all the high-end brands from Luxottica that a customer could want. We are grateful for Luxottica’s partnership. I commend the hard work and brilliance shown by the 505 teams to offer unmatched experience, thereby creating a base of loyal customers who appreciate the superior service they receive whenever they walk into 505. As the demand for branded eyewear expands in Sri Lanka, we see tremendous future prospects as a leader in designer eyewear. Vision Care has always been a revolutionary trailblazer in eye care solutions and the success of 505 reflects its distinctive offering.”
Over the past year, 505 has become popular for its Kids Clinic, located on the first floor, offering specialized technological instruments, which enable eye specialists to examine children’s eyes amid playful and attractive surroundings, making it a pleasant experience for kids. Specially trained staff wields new technology and put into play their special skills in treating children’s eye problems.
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While property developers are weighed down, being unable to earn expected profits, those who buy apartments to sell them at gains are saddled with cost excursion. In Sri Lanka, land prices keep rising year after year. The Colombo District Land Price Index compiled by the Central Bank reached 132.2 during the first half of 2019 recording an increase of 13.6% compared to the first half of 2018. The sub-indices of land price, namely Residential, Commercial and Industrial have contributed to this increase. The averge price of a residential lot was up 15.3% in 2018 and in Colombo, by 15.5%. 
