Financing contract for Abacus One Estate not finalised, says firm
More facts have emerged that the financing contract with Sterling Bank Plc on the proposed Abacus One Estate is yet to be concluded.
The $1.2 million financing will cover expansion of Abacus One Estate and delivery of affordable residential green buildings with low carbon footprint.
The funds will enable the estate to deliver sustainable environmentally friendly quick- to-build homes with turn over production capacity of minimum of 500 homes in a quadrimester.
A statement signed by the Company Secretary/Legal Adviser, Stella Yakubu, said the estate project is the brainchild of Abacus Building Services Limited – a privately owned indigenous company established to produce and market polystyrene and galvanised steel products for the construction industry.
According to Yakubu, “The Abacus Building Services Limited was founded by Mr. Ibrahim Atta, who is also the core investor and team lead on the Abacus One Estate, which is a 75-unit housing estate on 13,567.19 square meters of land in Kuje, Abuja.
“Because the Abacus Building Services Limited is concerned with efficiency and quality in the delivery of its offerings, it has over the years sought partnerships with appropriate companies, hence the soon to be finalised partnership with Sterling bank Plc, is set to provide financing for the Abacus One Estate,” she said.