adminDorcas Jiri Herald Reporter
Harare City Council has approved a partnership deal to undertake a US$45 million development project of Mbare Musika, a popular market centre in the capital.
According to full council minutes of November 5, the council approved the signing of a memorandum of understanding between the City of Harare and Olshevick Investments, a property development firm, to upgrade Mbare Musika.
Council business committee chairperson Clr Herbert Gomba told The Herald that a shopping mall, bus rank, a hotel and a parkade would be constructed under the project.
“Our plan is to modernise and bring sanity to the Mbare bus terminus to enhance our revenue base,” he said.
“The vision incorporates a budget hotel to replace the current lodgings, to develop a fresh produce market with freezers, a bus terminus with local and regional interchanges, shopping mall, open retail market and a parkade.”
The move comes amid calls by the Government, travellers and other stakeholders to refurbish the area.
“The council is going to provide land and technical expertise, land surveyors, engineers among others,” Clr Gomba said.
“The investor will inject at least US$45 million and will get returns over a 20-year period after which the investment becomes the property of the council.”
The modalities for profit sharing were still being worked out.
The project was expected to commence in January next year.
The initiative was part of the city’s ambitious plans to develop Harare into a world-class city by 2025.
Online Reporter