The University of Zambia (UNZA) Vice Chancellor, Prof. Luke Evuta Mumba says the Private Public Partnership (PPP) between UNZA and East Park Mall is one of the most profitable undertakings that the university has ever engaged in.
The UNZA Vice Chancellor said this in a congratulatory note to East Park Mall, which is managed by Graduare Property Development Zambia Limited, for winning the first prize in the Best Retail Development category at the 3rd Annual Africa Property Investment Summit (API-Summit) taking place at the Sandton Convention Centre in Johannesburg, South Africa from 2nd to 3rd October, 2019.
East Park Mall emerged winner after competing with Landmark Retail Boulevard from Nigeria and Cosmos Yopougon from Cote d’voire.
According to the Africa Property Investment Events (API-Events), who are the summit organisers, the API awards are established to recognise and promote excellence in Africa’s rising real estate sector and are a critical benchmark for measuring success for the industry.
API-Events further states that the awards provide peer recognition for the pioneering world class work and services being undertaken by the trailblazing real estate industry in Africa.
The East Park Mall is a University of Zambia (UNZA) undertaking under a Public Private Partnership (PPP) that has seen UNZA lease out part of its land to Graduare Property Development Zambia Limited in exchange for a percentage of the gross revenue per month arising from the occupancy of the various outlets at the shopping mall.
The PPP terms specify that when the lease period stipulated in the agreement expires, the mall will be transferred in full to the University of Zambia.
So far, UNZA has invested heavily in projects and income generating activities from proceeds of the partnership aimed at expanding its opportunities to attaining self-sustainability.
Of note, is the purchase of a state of the art Printing Press housed under UNZA Printer and the construction of a block of two ultra-modern lecture theatres each sitting a total of about 350 students. In addition, the development will house a computer laboratory, class rooms and office space to be completed in July 2020.
The UNZA Management is committed to engaging in partnerships such as the one with Graduare Property Development Zambia limited to ensure that UNZA attains self-sustainability for the promotion of the highest quality of teaching, research and community service for its Staff, Students and the general public.