The Urban Development Authority (UDA) is reported to be preparing to lease the Pettah Floating Market to a Japanese investor for USD 160 million, it is reported. According to reports, the investor plans to renovate the shops and the night market within the complex under the current arrangement. Discussions are still ongoing regarding compensation for the current shop owners. It is also stated that the investor has already paid USD 16 million to the Urban Development Authority. Former Urban Development Minister Anura Karunathilaka had met this investor during his tenure, and yesterday (25), senior UDA officials held a special discussion…
UDA to lease Pettah Floating Market to foreign investor
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