JONATHAN UNVEILS N3TRN CENTENARY CITY

JONATHAN UNVEILS N3TRN CENTENARY CITY

President Goodluck Jonathan yesterday performed the groundbreaking ceremony of the Centenary City, Abuja.

Jonathan said the $18.6 billion (N3 trillion) centenary city which would start off with 10 storey building, would be a modern city with presidential archives.

The president said his administration was developing the centenary city, sited at the Airport Road, Abuja for security and free trade zone.

Describing the project which was designed to cover 1,200 hectares of land as an elegant city of hope and a symbol of national unity, the president said no other sign could demonstrate the symbol of his administration’s determination for excellence than the city which, according to him, promises a unique and global standard in real estate project.

The project will be a modern city where modern beauty will merge with architectural creativity, Jonathan explained.

“We don’t want to build a city where everybody will have maiguard (security guards), we don’t want a city where everybody will dig their bore holes and where everybody will be buying generators,” he said.

Secretary to the Government of the Federation Anyim Pius Anyim noted that the centenary city is not a housing project, but strictly an economic one.

According to him, the residential area that will be provided therein will only complement the business concerns.

Anyim stressed that a Dubai firm, Eagles Hills Properties, would develop the city at no cost to the federal government.

The Nigerian Sovereign Wealth Fund Authorities had sealed an agreement to co-invest with the firm, Anyim said.

Also speaking, former Head of State and chairman of the Centenary City Plc, General Abdulsalami Abubakar noted that it is only when peace reigns in all parts of Nigeria that the project could be successful.

He urged Nigerians to maintain peace.
The former head of state said the project, when completed, would create 69,000 well-paying jobs and 250,000 construction jobs.

He said Sterling Partners was appointed as legal advisers, Price Waterhouse Coopers as financial consultants and Messrs DDB Lagos as the official marketers for the centenary activities.

FCT Minister Bala Mohammed said since the Certificate of Occupancy had been issued, the FCT Administration did not expect any hitch in the execution of the centenary city project.

A total of N1.2 billion, being 100 percent compensation, is said to have been paid for economic trees of the original inhabitants and the structures of some non-natives resident in the area; while 20 percent of the plots is earmarked for residential houses and 80 percent for mixed use and commercial purposes.

The sum of N2.976 trillion has been mopped up to develop the 1,200 hectares of land earlier earmarked by the FCT Administration for the purpose, it was also learnt.

Source: #Daily-Trust