The Churchgate Group has expressed commitment to the completion of the Phase One of the World Trade Centre (WTC) in Abuja project despite the down turn in the economy, especially the fall in oil price and ever-increasing currency depreciation.
The WTC Abuja, a mixed-use development consisting of luxury Residences, AAA Offices, five-star hospitality and shopping, is amongst the other high profile real estate developments to be completed by 2016.
Speaking during the visit of members of the Nigerian Institution of Estate Surveyors and Valuers to the construction site, the Group Managing Director of Churchgate Group, Mr. Vinay Mahtani stated that customer interest has been overwhelming and affirmed that the organization remains committed to delivering the Phase One of the WTC Abuja project this year.
According to Mahtani, there has been a growing demand for quality real estate, both residential and commercial. “Many people share our dream of building world-class projects in Nigeria and Nigerians, living both locally and in the diaspora, have shown their confidence in us through investments made already”.
Construction of Phase One is now at the final stage. This consists of a residential tower that will offer luxury apartments with modern amenities and AAA commercial tower that will accommodate businesses of all sizes. The buildings, at 24-storeys each, are set to define Abuja’s skyline: the commercial tower is the tallest office building in the nation’s capital, while the residential tower is the tallest residential building in Nigeria.
Speaking on behalf of the estate surveyors and valuers after a tour of the show flat in the WTC Abuja project, Olusola Akinsola who expressed his satisfaction at the level of completion of the project stated that the ripple effect of completing the WTC Abuja project will be good for the real estate sector and economy at large.
He said: “Housing is no more about shelter – it’s about employment, economic inclusiveness, multiplier effect on the local economy,” he said. He stated that the World Trade Centre Abuja, being the first of its kind in West Africa will bring all of these to the Nigerian economy.
Assistant General Manager, Corporate Communications, Churchgate Group, Mr. Femi Awopetu stated that the WTC Abuja would be an economy driver in itself, bringing together corporations and individuals and providing a platform on which they can conduct business. Awopetu added that the project would also impact the economy and improve welfare of lives. “We have already created employment for thousands of people during the construction of Phase One and this will continue throughout all subsequent phases of the project” he said.