Senator Bala Mohammed, the Minister of the Federal Capital Territory (FCT), Abuja recently revealed plans to commence construction work on the Abuja City Center.
With a budget of US$3.5bn, the two-phased construction project will consists of four international hotels, residential houses, offices, shops and condominiums; all on 17 hectares of land.
According to Executive Director-Africa, Eagle Hills, Jaimal Shergill: The development is expected to boost economic growth in Abuja and the West African sub region. The project will be carried out by the Chicason Group in collaboration with the Eagle Hills.
Senator Mohammed stated that “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 $40million at no cost to the FCT administration.”