It has been argued that the constructing of urban markets through the use of Public Private Partnerships (PPPs) would allow for quality provision of urban infrastructure at relatively affordable cost in rentals to the public. However, it is not clear why despite existing policies, PPP Act and Framework, Zambia still faces challenges as in the case of the Chachacha and Luburma public markets in Lusaka District. This study aimed at establishing the causes of the poor delivery of urban market projects procured using PPP arrangements. The study used an exploratory research design through a mixed method approach in which in-depth interviews and questionnaires were used to collect primary data from 59 respondents. The research findings disclosed that the causes of poor delivery were centred on project structuring the study concluded that poor delivery was due to inexperience in PPP structuring which impacted risk assessments and allocation. Economic and financial risks were ranked at the very top after political interference, poor contract management, inexperience with PPPs and poor negotiation as the key reasons why the delivery of public markets has been poor. The study proposed a risk management model and recommended by the researcher for adoption in Zambia for urban market project delivered through PPPs in future.