Re-Clouds hang over Cen­te­nary city

Daily Trust - - OPINION -

Our at­ten­tion has been drawn to your pub­li­ca­tion on Mon­day 17th Au­gust 2015 on the above. In your pub­li­ca­tion, you men­tioned that the Chair­man NIESV Abuja could not es­ti­mate the value of land for Cen­te­nary City but an Es­tate Agent gave a value even though the value was ques­tion­able.

It is per­ti­nent to men­tion here that we re­jected in strong terms the as­ser­tion. We had de­clined com­ment on the pro­ject as we do not want to be drawn into murky wa­ter of pol­i­tics.

As a pro­fes­sional body, we are real es­tate pro­fes­sional whose core com­pe­tence cov­ers ar­eas such as val­u­a­tion of prop­er­ties and other as­sets (in­clud­ing plants and ma­chin­ery) let­ting and sale of prop­er­ties and fa­cil­ity man­age­ment, fea­si­bil­ity and vi­a­bil­ity ap­praisal and pro­ject man­age­ment to men­tion a few.

Our un­der­stand­ing is, that the Cen­te­nary City is a de­sign to re­pro­duce a model of Dubai and will be built in phases span­ning a pe­riod of 15 to18 years. We un­der­stand that in­vestors can make an in­stall­men­tal pay­ment of 10 per­cent of the to­tal cost of their de­sired prop­erty, 20 per­cent within two months and re­main­ing pay­ment spread over the next five years.

The site is lo­cated 4km from the Nnamdi Azikwe Air­port. The Cen­te­nary City spans across a 1,300 hectares of land with a 65-hectare park Africa Tower fea­tur­ing mod­ern residential and of­fice spa­ces. It was de­signed to house the latest shop­ping mall in the West Africa re­gion and the Abuja grand bazaar, a venue that cel­e­brates the na­tion’s cul­tural in­dige­nous ar­chi­tec­ture.

In all, we had of­fered to pro­mote the pro­ject through our in­volve­ment and par­tic­i­pa­tion in line with the lo­cal con­tent in­tia­tive of gov­ern­ment. We would have en­sured that there is in place a CAR (Con­trac­tors All Risks) in­sur­ance pol­icy from a rep­utable Nige­rian in­sur­ance com­pany to cover the con­struc­tion per­son­nel.

We had ear­lier pro­posed to the Cen­te­nary City that we, Es­tate Sur­vey­ors and Valuers can­not af­ford to be on­look­ers

and of the Cen­te­nary City de­vel­op­ment pro­ject but rather to of­fer our pro­fes­sional ser­vices to the ben­e­fit of the pro­ject.

We also wish to use this medium to in­form the var­i­ous gov­ern­ment agen­cies that we are ever ready to ren­der our pro­fes­sional ser­vices in the area of Val­u­a­tion of all the con­fis­cated as­sets. We are ready to part­ner with Pres­i­dent Buhari on anti-cor­rup­tion war.

Em­manuel Alao is Chair­man, Nige­rian In­sti­tute of Es­tate Sur­vey­ors and Valuers NIESV Abuja Chap­ter

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