Concessionaire transforms CMD into Funplex resort
ATSL won the bid for the management of the Centre for Management Development, Lagos (CMD) facility on a Build, Operate and Transfer (BOT) basis. Upon winning the bid, the National Planning Commission (the lessor) entered into a lease agreement with Allied Thrust & Systems (the lessee).
Under the terms of the agreement, 5.02 hectares of land of CMD was demised to the lessee, who was also expected to renovate the existing 30-room facility (serving as the Guest House), construct a 102-room guest house with four-star facility, build and operate a 1000 seat conference facility and pay a graduated annual rent to the lessor in three tranches over the lease period.
Managing Director, Allied Thrust and Systems Limited, Mr. Emeka Nwasike said, the aim of concession agreement with CMD a federal government parastatal, is to develop CMD Guest House, a property owned by the institution, sitting on a mass span of land in Magodo, Lagos.
According to him, not only has ATSL succeeded in transforming the guest house, but the company has gone beyond to develop the property, turning it into a five-star relaxation centre through the establishment of several other businesses within the property, with the latest being Funplex Event Centre.
He revealed that the event centre which is part of a mix called Funplex Resort is a one-stop-shop for fun and entertainment. “Our goal is to provide Nigerians with an event centre that can cater for all their corporate and social needs,” he said.
Mr. Nwasike further revealed that the event centre houses a gym, spa, beauty saloon, cinema, a bush bar, an underground club house and event halls that have the capacity to sit over 2000 guests comfortably.
“It has modern facilities like air conditioning systems, well-furnished VIP suites/changing rooms, a standard performance stage and entertainment technology systems” he said.
Also speaking at the event, a former Director General of CMD, Dr. Joseph Yakubu Maiyaki, who was in office when the institute and ATSL signed the agreement, described the project as a good example of a public-private partnership.
He revealed that the concession was done as an alternative means of generating income for CMD, while adding that though the institute is government funded, the institution felt there was a need to develop other ways of generating more funds in alliance with the federal governments’ vision for the concession programme.
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