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Responding to a question in Parliament today by Solwezi Central Member of Parliament Lucky Mulusa who wanted to know the nature of the contract signed by the University of Zambia and the developer of the prime land, Education deputy Minister David Mabumba said the nature of the contract is a design, build, operate and transfer modal through a Public Private Partnership (PPP).
Dr Mabumba explains that this is an arrangement were the University of Zambia has provided land to the developer and in return the developer will put up the infrastructure and run it for a period of 25 years after which the property will be transferred back to the university.
He says the retail trade centre will cost K105 million, business park K125 million, while the hotel will K66 million.
And Education Minister John Phiri named the developer of the land as Gradual Property Developers a local company.
