KMDMC is in the process of assigning owner-occupier title of 6,500 unit of shops in Kaduna's biggest and most viable market - Shiekh Abubakar Gumi market- to traders. The company is working with PricewaterhouseCoopers and the non-interest arm of Sterling Bank to carry out this 8 billion Naira transaction.
The project is part of the Kaduna State Government's transforming and empowerment agenda. As such, the company has secured a 9% mortgage agreement with Sterling bank for interested traders. The mortgage is tenured for seven years and provides traders with the opportunity to own properties.
The company is replicating a similar model of transaction in all the markets in its portfolio.