Developer expands portfolio range in centenary city project
The momentum for housing delivery by private real estate investors, particularly in Abuja, appears to be shifting from the luxury housing range, as developer’s flag-off an iconic tower that would house residential flats for middle-income earners in the Centenary city project.
The project named after President Muhammadu Buhari, called ‘Buhari Tower’ expected to kick-start with the foundation lying ceremony in less than a months time according to officials.
Abuja Centenary City project was approved in 2014 during the tenure of former president Goodluck Jonathan to commemorate Nigeriaís centenary anniversary. Expectedly, the project would create about 250,000 jobs, bring in foreign and domestic investment and promote world-class urban infrastructural development, boost leisure and entertainment in the city and Abuja environs.
Speaking during the introduction of the Joint Development Foreign Partner, Messrs Front Range FZE by Centenary City Plc, a representative of one of the co-developers, Al-hassan Dantata, explained that naming of the towers after the incumbent President had no political undertone.
He said: “The name Buhari represents the poor people of Nigeria. As a businessman and an admirer of the president, Im only doing this as an honor to the pro-masses vision of president Buhari.”
On his part, Managing Director, Abuja Centenary City Plc, Mr. Okechukwu Odenigwe observed that unlike other Free Trade Zones, the Centenary City would utilise 100 per cent local talents and manpower to implement the project, stressing that the only expatriate for the project is a foreign investor from Dubai.† He said that about 250,000 direct employments would be created from the project.
Odenigwe disclosed that 40 local and foreign investors were pulling resources together to build the City, with $18.76 billion Naira being committed by foreign partners from the United Arab Emirate. He added that the master plan also took cognizance of the environment and existing infrastructure within the location.
He said: “The Centenary Economic City Free Zone is a strategy of the government to diversify the economy of the country. It is a legacy of Nigerias 100 years anniversary and the economic free zone. And it will be built at no cost on government.
With tourism, sport, entertainment and businesses, the city is very critical to Nigeria’s growth as its population is expected to grow more and its part of an idea to preparing the country towards a greater and better future. The City is an economic free zone like Dubai, Qatar, Eko Atlantic City. It shall focus on tourism, leisure and history. And it is regulated by Nigeria Export Processes Zone Authority (NEPZA).
According to him, the centenary city project is the most dynamically committed Free Zone as the investors in the project have already spent over $40million.
“We follow due process in everything about the development of the City. We will also make sure that the green spaces are connected with different bridges linking different areas of the city. The master plan is a living document, which would keep changing as development progresses with a view to accommodating emerging development realities.
“It also takes care of the issue of community services where the interest of surrounding communities is taken into cognisance. This would include the provision of schools from Nursery to Secondary, neighbourhood healthcare and sporting facilities”, he stated.
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