Dubai-based developer begins $18.5b housing project in Abuja

A Dubai-based property developer has commenced $18.5 billion sites and serviced project expected to provide over 140,000 housing units within Centenary City in Abuja.

Unveiling the initiative in Abuja, a co-investor/ developer, Alhassan Dantata, explained that government has leased the project, while funding is coming from foreign investors. He stressed that Centenary City was delayed because of controversies, adding that the housing programme was brought on stream with the present pact with the foreign investor.
According to him, immediate past president, Goodluck Ebele Jonathan conceived the idea of Centenary City to commemorate Nigeria’s 100th years of existent as a nation, while Senator Anyim Pius Anyim anchored it. He said housing project was tagged ‘affordable luxury for the common man’, and every design must be approved from Dubai, adding that there was no development in any country, investors would not be involved.

Dantata also explained that the programme would create 150, 000 direct jobs with additional 250,000 daily jobs for indigenes and will have positive impacts on the housing sector because of the foreign developers’ reputation.

“The two-bedroom unit would go for between N15 and N30 million, and it could be accessed through mortgage facilities, which civil servants could key into.“ It would soon become a dream come true to meet housing needs of Abuja residents.

“It is going to be a Smart city, or mini –Abuja, with $50 million City Gate. The location is a ten minutes drive from the airport, and twenty minutes to city center; made up of Amusement Park, Tourism site, and golf course.

“Beneficiaries cut across all strata. It means to pay and enjoy your money. House loan scheme is N16 million for civil servants to be deducted from salary. This would enable them to pay N30million with electricity, water supply, and security”, he added. On the issue of compensation, he hinted about N1.377 billion have been paid to the indigenes through the minister of FCT, while 475 houses have been built for the landowners in line with Abuja Master Plan.

Credit: The Guardian