The construction of a shopping mall to be the property of the University of Zambia (UNZA) Great East Road campus will cost K248 million.
Deputy Minister of Education, Science, Vocational Training and Early Education David Mabumba told parliament today that the prime land in question would be leased for a period of 25 years to Gradual Properties, a contractor that won the tender and currently working as a developer.
Mr Mabumba said UNZA would benefit five percent profit of annual returns from the shopping mall building project being constructed in its vicinity by the private firm.
The Deputy Minister said the shopping mall project will among others have restaurants, furniture stores and boutiques.
He was responding to a question raised by UPND Solwezi Central Member of Parliament Lucky Mulusa who wanted to find out from the government the nature of the contract signed by UNZA and the developer, concerning the prime land belonging to the institution and whether the land was advertised in the media prior to signing the contract, what the estimated cost of the project is and what the benefits to the university are.
And, Minister of Education, Science, Vocational Training and Early Education Dr John Phiri stated that the lease agreement after expiring would be handed over to the University of Zambia.
Dr Phiri also disclosed that six companies had applied and bided for the project that was started by the previous MMD government in 2007.
The education minister said government takes pleasure in developing the country through the private sector using the private public partnership arrangement.