The Floating Market in Pettah is set to be opened today at 5 pm by Health Minister Mithiripala Sirisena.

This venture was constructed under the Colombo city progression view at a cost of Rs. 150 million. This involved a major transformation of the Bastian Street in Colombo, with the collaboration of the Sri Lanka Army and the Urban Development Authority (UDA).

The Floating Market will help vendors who used to run unauthorized businesses before the construction of these premises, acquire shops at the Floating Market. This will fruit and vegetable sellers as well as for restaurants and other such entities. This market will consist of around 100 shops. 

Floating markets have become an emerging trend in the modern trade specially in Asian countries. Originating in times and places where water transport played an important role in daily life, most floating markets operating today mainly serve as tourist attractions, and are chiefly found in Thailand, Indonesia and Vietnam. Starting from the floating market in Thailand and then spanning now into Sri Lanka with the Pettah Development project becoming a great eye-catcher for the tourism industry which is gradually expanding in the island.

Under this project, around 100 traders who are in the area will have an opportunity to establish stalls within the floating market to maintain their local trade. This will move along-side with the Beira Lake restoration plan and with the floating market emerging along the border the waterline and the water taxi service which will come up in the future.