A Japanese investor has come forward to relonch the Pettha Floating Market.
The signing of the initial memorandum of understanding for that purpose was done at Urban Development Authority, Battaramulla under the chairmanship of Urban Development Authority Chairman Nimesh Herath and Japanese investor Akira Hirose. Accordingly, the management of the floating market will be done by this Japanese investment.
Various accusations have been made against the Urban Development Authority over the past period that this floating mall is not managed properly. Prasanna Ranatunga, the Minister-in-Charge who paid attention to this matter, advised the Urban Development Authority to develop it under public private partnership or as it is difficult to use the funds of the institution to develop it with the current economic problems in the country.
Accordingly, the Urban Development Authority invited investors to come forward for this purpose. This is what this Japanese investor came up with. The floating market is being developed as a ”Japanese city of floating”