Project

Construction of Kasuwan Magani Market

Project Details

The Kaduna Market Development and Management Company as part of its programme to promote equal opportunity and economic development in Kaduna communities is constructing the burnt Kasuwan Magani Market with the goal of accommodating the burnt shop owners and other persons who are interested in owning shops. Perceptions that there are insurmountable barriers to securing trading places in markets will be erased in the new expanded market.

The Kasuwan Magani Ultra-Modern Market will have 2024 shops which include lock up shops, open stalls, meat dressing slabs, abattoir and warehouses and 398 car parking spaces. Facilities at the market will include police post, clinic, banking hall, fire service area, electricity and clean water supply in compliance with regulatory requirements for a modern market. The construction contract has been awarded to CCECC Nigeria Limited, a foremost Chinese Construction Company. The construction of the new market is expected to be completed in the last quarter of 2020 at the cost of N2.78Bn.

To support the interested buyers of stalls in the market, the KMDMC is working with Sterling Bank to provide a mortgage facility at 9% interest rate per annum.

Project Highlights

  • Project Brief

    Consultant

    System Property Consult Limited

    Contractor

    CCECC Nigeria Limited

    Award Date

    3rd July 2019

    Project Duration

    10 Months

    Location

    Kajuru, Kaduna

  • Total Contract Sum

    The total contract sum for the project is N2.78 billion.

  • Project Funding

    The project is funded by a N1 billion capital injection from Kaduna State Government and an additional N1 billion loan facility from Sterling Bank.

  • Amount Paid to Date

    N557 million has been paid amounting to 20% of the contract sum.