St. Balikuddembe (owino)

Introduction

St Balikuddembe stall and lockup owners association limited is a brain child of United market vendors association..St Balikuddembe (Owino) in its leaders council formulated the above association .its major task is to oversee and promote the re-development of the project and at the moment there has been tremendous progress. Under this re-development project, St Balikuddembe shall turn into a modern shopping center. The development shall have more well furbished shops, and room for extra facilities which will see it become a decongested and most preferred shopping center in the city and East Africa as a whole.

This modern shopping mall shall replace the existing market infrastructure on plot 24b Nakivubo road that measures up to seven acres. the existing market has 6500 stalls ,750 lockup shops and it also accommodates 2500 registered open space. thus these vendors who own property in st balik8uddembe are given first priority in re development and other interested outsider may also join the redevelopment by contributing money, members of the association that spear heads redevelopment(the interested person can read memorandum and articles of association)
any person wishing to become a member of the association shall contribute 20,000 annually.

The association hired TEK consult Uganda limited to provide design consultancy services. They have since designed and developed the new plans that shall be submitted to Kampala city council (KCC) at the appropriate time. The new complex will have more space for offices, restaurants, entertainment halls, clinics, health clubs, banking halls, parking space for more than 1000 vehicles. The new facility shall have big stores to take care of the much needed storage facilities for all the traders. There will be enough modern toilets to cater for the increased number of vendors and customers. all this will be housed in one strong interlinked storied structure built on avery strong foundation.

Market Analysis Summary

The re-development project like any other business is affected forces and trends in the market environment. They include geographical, environment and legal/ political

Timeline and project costs

This project will commence on……….and last for…….months. The new complex is expected to be open for rejuvenated business by………..
The project will cost 34.7m that is to be raised through 10,000 registered shops and stalls owners as well as some other traders working in open space. This will be made possible through the community savings scheme for development.
This fund will be raised for a period of 3 – 10 years savings will be made on a monthly basis. A loan will be secured from a financial institution to have the work go on non-stop.
The redevelopment project will be handled in phases to enable its successful completion with less inconvenience to the vendors and their customers

Guidance from outside professionals

The project chairman and the executive have sought assistance from relevant organizations /authorities; His excellence the president, Honorable Minister of government, Kampala city council mayor, Honorable member of parliament for Kampala central division, councilors and other advisors to develop the market to the required standard.

Objectives

Attract $ 75 million dollars redevelopment cost
Create a modern spacious working environment at the market.
Create the biggest shopping complex that upgrades the informal traders to formal.
Raise vendor’s income.
Raise revenue collection for the government/ KCC.

Creation of community saving accounts

The vendors through their executive have created a community savings fund account in DFCU bank as a step justifying their commitment in turning the congested and ill planned market into a modern shopping centre.
The executive therefore, through its finance department, is collecting finance from interested vendors to raise finance to pay for the lease and buy land for resettling the vendors during construction.
Each vendor is supposed to contribute 1,000,000 shs for that purpose and 50,000 shs for membership to facilitate the daily operations. Payment for construction shall be done after construction and it will be done in monthly installments.

Redevelopment cost $ 75 millions

The vendor/stake holder need not to worry about this cost, the executive is in touch withy a number of financial institutions which are willing and ready to finance our project. The financial facility extended to us shall run for a period of between 10-15 years at affordable interest.

Thus the owner of the shop shall be required to pay for construction after allocation.
However, the vendors/other interested persons shall be required to continue with savings on the communal account during construction in order to reduce his or her obligation after construction.

The cost for each shop shall be fixed at a later date.
However St. Balikuddembe stalls and lockup shops owners Association limited reserves the final figure.

Owners of the leased property

The lease title or any other property shall be registered in the name of the Association.
Every member of the association who has contributed to redevelopment shall be provided with a certificate or ownership. This certificate shall indicate his/her interest and the member shall be free to sell or mortgage his/her interest with any person / institution.

Facility description

We shall have 10,205 shops with the following facilities

Shop- will be constructed at required standard size of 3m by 3m
Stores- these are made at a standard size of 3m by 3m but can be described to the client’s specifications and size.
Banking halls- these shall depend on the number of units purchased by the client.
Health clubs- this complex shall be situated in the busiest areas which require health clubs. These also shall depend on the number of shops converted into health clubs.
Parking spaces- there will be sufficient parking on the forth floor
A Police post – one unit of 6m by 6m shall be allocated to a police post to keep law and order to the surrounding community.