Newport Council’s investment in the city’s market redevelopment is raising eyebrows! 🔍 Questions are swirling around the terms for a hefty £6 million loan to the market’s developer. Cllr Miqdad Al-Nuaimi is pushing for transparency on this, wanting details on the repayment terms and any expected rental income that the council was supposed to receive.
While some promises about the market’s impact on Newport haven’t lived up to expectations, the council leader, Cllr Dimitri Batrouni, is standing firm by the decision. He paints a rosy picture of the revamped market, describing it as a vibrant hub offering spaces to work, dine, and create — a real boost for the city’s vibe. According to him, the project has “breathed new life” into the historic site, attracting both locals and visitors for a mix of food, music, and leisure.
But there’s more to the story. Despite receiving interest payments on the loan, no rental income has yet been handed over, leading to further calls for transparency. Stay tuned as Newport’s market story continues to unfold! 📜🧐 #NewportMarket #CityRevamp #LocalNews