Developers unfold architectural design for Abuja City Centre project
AFTER expressing satisfaction over the architectural design of a proposed N700 billion Abuja City Centre project, the Federal government last week urged the promoters, Messrs. Chikason Group and partners, Eagle Hills, Abu Dhabi to immediately commence the project and ensure completion as scheduled.
The FCT Minister, Senator Bala Abdulkadir Mohammed, gave the approval on behalf of the government when he received the management of Chikason group at his residence in Jabi.
Chikason had come to show case to the Minister an in-depth architectural design of the centre. The occasion was done in at the Banquet Hall, FCT Minister’s Residence, Gwarinpa I District (Life-Camp), Abuja.
Chicason Group will execute the centre in partnership with a reputable and renowned international developer, Eagle Hills.
Reaffirming the government’s resolve on the project, Mohammed said it is one project, which the present administration believes in and would do all within its power to see to its success.
The Minister said that the Federal Government is determined to make Abuja a tourist destination of Africa and that is why the development of the 17 hectares of this prime land is on the front burner of the government.
Senator Mohammed revealed that the Centre would be a mixed-use development that has the capacity to generate about 10,000 jobs with its multiplier effect on the economy of the entire country.
He disclosed that the FCT Administration would enjoy five per cent equity share holding in the Abuja City Centre Development Company Limited being a special purpose company incorporated to own and operate the Centre; whilst the Abuja Investment Company Limited would hold such share in trust for the Administration.
“The land premium as well as the development control charges accruable to the FCT Administration would be used as its equity contribution to the project.”
“In addition, the investors would construct a National Mall at the cost of 40million US Dollars at no cost to the FCT Administration,” he stressed.
Also speaking during the presentation, Jaimal Shergill, Executive Director – Africa, Eagle Hills, Abu Dhabi disclosed that Abuja City Centre project comprises of four international hotels, residential houses, offices, shops as well as condominium which, would further stimulate economic activities not only in Abuja but in the entire West Africa sub region.
He assured that the ground breaking of the Centre would be undertaken before May 29, 2015, adding that the entire project would be executed in two phases.