The University of Zambia – UNZA Vice Chancellor, Professor Luke Mumba says the Private Public Partnership – PPP between the university 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 which took place at the Sandton Convention Centre in Johannesburg, South Africa from 2nd to 3rd October, 2019.
In a statement made available to the Zambian Business Times – ZBT by UNZA Spokesperson Brenda Bukowa, East Park Mall emerged winner after competing with Landmark Retail Boulevard from Nigeria and Cosmos Yopougon from Ivory Coast.
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.
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. And the university has so far invested heavily in projects and income generating activities from proceeds of the partnership aimed at expanding its opportunities to attaining self-sustainability.
