By Henry Umoru

President Goodluck Jonathan will flag-off the development of Abuja City Centre, estimated at $3.5 billion, before May 29, 2015. This assurance was given last week by the Minister, Federal Capital Territory Administration, FCTA,  Senator Bala Mohammed when  investors in the project made an in-depth presentation to the FCT Administration’s team. He described the  project as  one of the milestone achievements of the present administration.

Messrs Chicason Group, according to the Minister, will execute the N700 billion project in partnership with an international developer, Messrs Eagle Hills of Abu Dhabi.

The Minister who reaffirmed the resolve of the Jonathan administration to to make Abuja the tourist destination of Africa, said this was the reason behind the the development of City on 17 hectares of prime land.

Abuja City 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.

Bala said  the FCT Administration would enjoy five percent equity share holding in the Abuja City Centre Development Company Limited which is a special purpose company incorporated to own and operate the Centre.

“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 40 million US Dollars at no cost to the FCT Administration,” he said.

The FCT Permanent Secretary, Mr John O. Chukwu, an engineer, FCDA Executive Secretary, Adamu Ismaila, also an engineer, as well as other technical directors of the FCT Administration attended the presentation session.

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.

On the team of the investors was the Chairman of Chicason Group, Chief Chika Okafor and Odunayo Ojo, Director of Development and Projects, Eagle Hills, Abu Dhabi.