Finally, Construction works have begun on the first phase of the centenary city in Abuja, the project has been estimated to have a completion period of ten years.
This project also promises to create approximately 400,000 jobs (very interesting)
Addressing journalists on Tuesday in Abuja, the Executive Director, Eagles Hill, Mr. Jaimal Shergill, said the first phase of the project would be completed in four years.
According to him, the first phase named ‘The Address and Residence’ would offer a combination of residential and hotel spaces, spanning across 25 hectares of land with world class amenities, restaurants and more.
He added that ‘The Address’ would bring its five-star services to elevate the city’s standard of living with luxury villas featuring Four(4) to Nine(9) bedroom units.
Despite being a Public Private Partnership (PPP), Shergill explained, the centenary city, as a free trade zone, would be exempted from both federal and state taxes, pointing out that it would also be exempted from the Federal Capital Territory (FCT) property tax.
The executive director revealed that 87,000 jobs would be created. “In addition to that, ‘he said, we will have- 137, 000 residents-a bulk of the workers will be Nigerians, and in our estimate for every resident, two or three jobs would be created, which is close to about 300,000 to 400,000 jobs.
There will be two stages of job creation which include the construction phase and the services stage. The first phase which is the five star hotel and residence would be completed within four years. Shergill noted that centenary city is not for the rich alone as it is an all inclusive project, adding that the first phase is a bit expensive but the housing phase is all encompassing.
He disclosed further that arrangements were on top gear with their partner to power the site, noting that compensation had been paid to all the inhabitants of the place.
‘The Address Abuja’ is located off the airport road, few minutes to the Nnamdi International Airport and some minutes from the Central Business districts.
Let’s welcome the new development in good fate and with well thought out constructive criticism