Traders to Become Owners of Urban Terminals Spaces after 12 Years 

Traders at local Urban Terminals will have the opportunity to become owners of their spaces after 12 years, local Goernment minister Anwar Husnoo has announced, while responding to questions from Opposition leader Xavier-Luc Duval.

In a Private Notice Question (PNQ), Duval highlighted the high cost of stalls at the Victoria Urban Terminal and parking, stating that these exorbitant prices would deter private developers from partnering with the Urban Terminals, which are set to be built in Rose-Hill, Quatre-Bornes, Vacoas, and Curepipe.

Statistics cited by Duval indicate that nearly 50% of traders have not confirmed their interest in working at the Victoria Urban Terminal, resulting in vacant spaces.

Responding to these criticisms, Minister Husnoo clarified that the spaces being offered are booths and not stalls.

He also announced that the Development Bank is proposing a loan scheme where traders can eventually become owners of their spaces after 12 years.

During his response, Minister Husnoo also disclosed that only one developer has shown interest in the Quatre-Bornes project.

In order to attract more investors to the Urban Terminal projects, he assured that certain conditions have been relaxed.

Source: Defi Media