By David Stephen.
In a Public-Private Partnership move, the Lagos State Government, Lagos Island Local Government and D.H.B Construction Limited, have agreed to rebuild a major market between Simpson and Louis Street in Central Lagos. The Memorandum of Understanding signed is to redevelop the Sandgrouse Market in 18 months – from December 2012. The market will be built on a total land area of 14, 236.974 square metres, and will cost 1.5 billion naira.
The project will be conducted and funded by D.H.B Construction, under a build-operate and transfer agreement, for a period of 25 years. The market will have four floors; a car park, cold room and food court on the ground floor. There will be lift and staircases, a fire station and private electricity to shield the market from regular electricity cuts.
The CEO of D.H.B Construction, Chief Alabo Bakare said, “We are going to have shops, offices for Lawyers because of the proximity of the market to the High Court, banking hall, cinema hall, food court, which will take all kinds of food vendors and lots of spaces to-let; and huge parking space to serve both users of the market and residents in the neighbourhood. It is a total package that is the hallmark of a good market.”