The Pettah Floating Market re-entered the public domain last week following renovations, after years of neglect according to the Urban Development Authority (UDA). The floating market reopened on 7 March, following the instructions of both President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa.
Speaking to The Sunday Morning, UDA officials stated that the floating shopping mall which is located in the Pettah area, is being developed after being neglected for some time. They explained that this newly renovated market is going to host a variety of refreshing experiences for the people.
The market was first opened on 25 August 2014, and was conceived by President Rajapaksa when he was then the Secretary to the Ministry of Defence and Urban Development. However, the UDA stated that this floating market and similar, modern developments around Colombo had not been renovated by the previous Government.
The Government of Sri Lanka’s objective is to implement a successful urban development plan for Pettah and the suburbs of Colombo. 
During the reopening of the Pettah Floating Market, the UDA Director General stated that the purpose of opening this floating shopping complex is not just to build a few shops and resettle traders, but also to make Pettah a hub for the city’s commercial segment. He explained that this will complement the current renovations happening in Fort to turn it into a heritage square, as well as the soon-to-be commercial hub of Sri Lanka – the Port City.
“The new and improved floating market has been fully refurbished and will host a total of 103 stalls, even though the previous Government had taken steps to close 80% of the stalls,” the UDA stated.
It further stated that the total cost of the initial development back in 2014 was Rs. 312 million, and was originally designed to earn 50% of it back in five years.
This has also impeded attempts to attract international tourists to the country via such initiatives, creating more innovative businesses and providing fresh experiences to the public. Due to this, the current Government is focusing on developing plans that will enable the floating market complex and related development projects to continue more successfully.
During the reopening, the Secretary to the Ministry of Urban Development and Housing Sirinimal Perera stated that when the market was first opened, President Rajapaksa based the concept on similar attractions in countries like Thailand. He explained that this was the first of many development projects, some of which are being carried out to this day.
Similarly, during the event, the State Minister for Urban Development and Housing Nalaka Godahewa stated that all the development projects which were halted by the previous Government have restarted. He explained that this project is a part of a larger development project that will include both Fort and Maradana.
Following its reopening, the floating market is set to have regular renovations in order to maintain business and leisure activities, and will also host various public events throughout the year.
During the reopening of the Pettah Floating Market, the UDA Director General stated that the purpose of opening this floating shopping complex is not just to build a few shops and resettle traders, but also to make Pettah a hub for the city’s commercial segment. He explained that this will complement the current renovations happening in Fort to turn it into a heritage square, as well as the soon-to-be commercial hub of Sri Lanka – the Port City.
“The new and improved floating market has been fully refurbished and will host a total of 103 stalls, even though the previous Government had taken steps to close 80% of the stalls,” the UDA stated.
It further stated that the total cost of the initial development back in 2014 was Rs. 312 million, and was originally designed to earn 50% of it back in five years.
This has also impeded attempts to attract international tourists to the country via such initiatives, creating more innovative businesses and providing fresh experiences to the public. Due to this, the current Government is focusing on developing plans that will enable the floating market complex and related development projects to continue more successfully.
During the reopening, the Secretary to the Ministry of Urban Development and Housing Sirinimal Perera stated that when the market was first opened, President Rajapaksa based the concept on similar attractions in countries like Thailand. He explained that this was the first of many development projects, some of which are being carried out to this day.
Similarly, during the event, the State Minister for Urban Development and Housing Nalaka Godahewa stated that all the development projects which were halted by the previous Government have restarted. He explained that this project is a part of a larger development project that will include both Fort and Maradana.
Following its reopening, the floating market is set to have regular renovations in order to maintain business and leisure activities, and will also host various public events throughout the year.