Nakasero redevelopment starts next year
Sep 30, 2009
THE re-development of Nakasero market is set to begin within the next six months. The new ultra-modern building complex will generate income through the renting of market stalls, office space, hotel and restaurant facilities and apartments.<br>
By Aidah Nanyonjo
THE re-development of Nakasero market is set to begin within the next six months.
“The Kampala mayor, Hajji Nasser Ssebaggala, has already ordered the town clerk to issue us with a lease,†Godfrey Kakooza, the chairman of the Nakasero Market Sitting Vendors and Traders Association, said on Monday.
Kakooza was addressing a general meeting held at the market.
“Immediately after receiving the lease, construction shall begin because we already have the money.â€
The project is situated in the heart of Kampala on plots 7B and 4B on Market Street and stands on 4.12 acres of prime land. The vendors plan to build a modern market in place of the old one.
The new ultra-modern building complex will generate income through the renting of market stalls, office space, hotel and restaurant facilities and apartments.
Kakooza said vendors had fulfilled all the steps required to get the lease.
“Since 2008, the market vendors have collected more than Sh1b for securing a lease,†he said.
“The lease offer has come. It is now time for us to pay and re-develop our market. According to our programme, each vendor was supposed to save a minimum of sh1m. Some have even saved more than the required amount,†Kakooza added.
The market shall have two ground parking yards and a business centre.
The construction of the project is expected to be completed within 34 months.
There have been controversies surrounding the re-development of Nakasero market since 2007,which forced President Museveni to intervene.
The President, in 2007, directed Kampala City Council to permit the sitting vendors re-develop their market as had been the case with other markets in the city.
However, the council had already leased the market to city businessman Hassan Basajjabalaba for 49 years, under his Sheila Investment company.
It had been decided that Sheila Investment would own 70% of the market while the tenants or the council itself would retain 30%. The lease was later cancelled.
THE re-development of Nakasero market is set to begin within the next six months.
“The Kampala mayor, Hajji Nasser Ssebaggala, has already ordered the town clerk to issue us with a lease,†Godfrey Kakooza, the chairman of the Nakasero Market Sitting Vendors and Traders Association, said on Monday.
Kakooza was addressing a general meeting held at the market.
“Immediately after receiving the lease, construction shall begin because we already have the money.â€
The project is situated in the heart of Kampala on plots 7B and 4B on Market Street and stands on 4.12 acres of prime land. The vendors plan to build a modern market in place of the old one.
The new ultra-modern building complex will generate income through the renting of market stalls, office space, hotel and restaurant facilities and apartments.
Kakooza said vendors had fulfilled all the steps required to get the lease.
“Since 2008, the market vendors have collected more than Sh1b for securing a lease,†he said.
“The lease offer has come. It is now time for us to pay and re-develop our market. According to our programme, each vendor was supposed to save a minimum of sh1m. Some have even saved more than the required amount,†Kakooza added.
The market shall have two ground parking yards and a business centre.
The construction of the project is expected to be completed within 34 months.
There have been controversies surrounding the re-development of Nakasero market since 2007,which forced President Museveni to intervene.
The President, in 2007, directed Kampala City Council to permit the sitting vendors re-develop their market as had been the case with other markets in the city.
However, the council had already leased the market to city businessman Hassan Basajjabalaba for 49 years, under his Sheila Investment company.
It had been decided that Sheila Investment would own 70% of the market while the tenants or the council itself would retain 30%. The lease was later cancelled.