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 monthsí 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, Iím 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.