Nigeria: Alpine to Invest $100m in Kano Trade Fair
Alpine Investment Services is to inject 100 million US dollars into the Kano state Trade Fair Complex with a view to turning the complex into world class retail, hospitality and conference resort.
Speaking at the lease signing ceremony yesterday, the Vice Chairman of the Alpine Investment, Alhaji Muhammad Hayatu-Deen stated that the project was designed to capitalize on the legacy of Kano as strong industrial and commercial hub of the northern Nigeria.
Alhaji Hayatu-Deen further stated that the scheme, which will cover only 10 hectares of the Kano Trade Fair Complex, would consist of an ultra modern shopping mall, a movie theater, a hotel with conference and banquet hall facilities among other things.
He added that when completed, Alpine will run the place for 35 years before handing it over to the chamber of commerce, industry, mines and agriculture (KACCIMA).
The company's chief executive officer also noted that negotiations have reached advanced stage with potential anchor tenants while letters of commitment have been secured from two internationally renowned retail outlets indicating their interest in participating in the development as the two key anchors.
Hayatu-deen stated that development of such magnitude would bring along with it benefits in terms of stimulation of employment and skills acquisition to the teeming populace of the state.
"This will also expand the revenue base of the state as well as offering opportunities for local retailers to showcase their merchandise in the same way retailers it obtains in strong commercial cities such as Dubai and Malaysia ." said Hayatu-Deen.
He added that the scheme is also expected to attract a plethora of other add-on services to the development and boost its potential as a point to tourist.
Earlier speaking, the president of the Kano Chamber of Commerce, Industries, Mines and Agriculture, KACCIMA, Alhaji Sulaiman Baffa stated that the chamber had earlier made several efforts towards completion of the Kano trade fair, but yet failed.
Alhaji Sulaiman Baffa who expressed gratitude to Almighty God for actualizing the chamber's dream over the scheme, stated that for the past six month executive4s of the chamber are making tireless efforts towards actualizing the signing of the agreement.
He however assured the chamber's support and commitment towards making the project real, saying that the scheme is for the benefit of both Alpine, Kano state government and the entire people of the state.
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