Japanese investor to revive Pettah Floating Market in six months

About 80 percent of the shops at the Pettah Floating Market had closed down by the beginning of the year, Urban Development Authority (UDA) announced on Wednesday.

The UDA said that the floating market was declared open in 2014 at a cost of 352 million rupees.However, shop owners have been moving out during the last few years due to the lack of maintenance, unhygienic surroundings and various illegal activities taking place there, the UDA said.

UDA Chairman Nimesh Herath said that they had found a Japanese investor to renovate the market and commence operations within six months. (SI)