By TOM CHIAHEMEN, Abuja –
Against the backdrop of Abuja’s rapid urban expansion and rising appetite for smart infrastructure investments, Centenary City Plc has unveiled an ambitious package of incentives designed to attract early investors and developers into its sprawling 1,000-hectare Abuja Smart City project.
The initiative, branded as the “First Movers Advantage” (FMA), offers deep discounts, flexible payment structures and premium partnership opportunities aimed at positioning pioneering investors to reap maximum returns before the city’s next major phase of growth takes off.
Director Sales of the company, Mr. Kenneth Rex Njoku, who made this known in Abuja on Tuesday, explained that the concept of the FMA was meant to help visionary developers and investors secure strategic positioning before the next major growth acceleration fully matures within the Centenary City corridor.
Outlining the benefits of the FMA to investors and partners, Njoku said the package “offers zero Premium for joint venture partnership,” meaning that “investors and partners can participate in strategic development opportunities without additional premium charges attached to the JV structure.”
According to him, the real benefits include lower investment entry cost, better capital efficiency, increased profitability potential, easier access to premium opportunities and, stronger partnership positioning.
He disclosed that investors who choose outright payment (full payment) would enjoy up to 40% Discount, adding that the advantages of this include “immediate equity advantage, significant saving, increased long-term ROI potential and, stronger asset appreciation opportunity.”
As for those opting for flexible land purchase plan, Njoku said that the FMA provides flexible investment access through 30% initial deposit, with the following benefits: easier investment entry, flexible financial planning, opportunity to secure land early and, reduction of immediate financial pressure.
He further spoke of a One-Year Moratorium which, among other advantages, provides “financial breathing space, strategic development planning time, reduced short-term pressure” and, “better investment flexibility.
Highlighting the benefits of the “Three-Year Payment Plan,” Njoku said that under the “Up to three years flexibility payment structure,” there was “convenient installment system, improved cash flow management, accessible long-term investment structure” and “easier wealth-building opportunity.”
According to the Sales Director, the incentives are coming with a caveat, though.
He said the company was operating within a strict two-week window for all interested parties to formally indicate participation by submitting a Letter of Intent (LOI), adding that the timeline was important because “strategic allocations are limited; partnership positioning is being structures early; priority consideration will be given to early respondents” and “the project is designed for serious and visionary stakeholders prepared to move ahead of the market.”
Managing Director of the Centenary City Plc, Dr. Odenigwe Ike Michaels Jn, had in his welcome address, noted that the Centenary City Project was a great opportunity to create value and raise Abuja’s profile – to encourage international investment in Abuja.
It is “a 15-minute, Smart City conceptualized as the foremost Abuja Urban Renewable Project, designed to work in harmony with nature, adding, “the districts and communities are designed to fit in among the natural landscape, offering both an impressive downtown skyline and peaceful suburban living.”
He said the city was conceptualized as a truly multifunctional development that offers a complete cosmopolitan lifestyle to its residents, as well as serves as a tourism hub for the wider community.
Some of the key components of Centenary City, according to Odenigwe, include: Five Star Hotels, Luxury Serviced Apartments and Residences; International Commerce Centre (ICC); Centenary International Convention Center (CICC); Mall of Africa; Championship Golf Course and Golf Estate; Championship Polo Courses and Polo Estate; Nigeria Park; Safari Park; Industrial Park; Free Zone Business Area; African Arts Museum; Entertainment District and Amusement Park; Various Healthcare and Educational facilities and; Extensive and broad variety of residential dwellings.
“After a pause in the development and construction, the project is now back on track with the promise to redefine sub-Saharan Africa’s skyline and enhance Nigeria’s global standing in urban development,” he declared.
The FMA session for investors and partners also featured site inspection and presentations from the CEO of UPDC Plc, Mr. Odunayo Ojo, who spoke of the future of investment and urban development; and Mr. Yinka Adebimpe, who gave an overview of Phase 1 and investment positioning.
Giving an update on infrastructure development, the representative of Julius Berger Plc, announced that 47% of the contract signed with the Centenary City plc for the provision of core access road network had so far been achieve, assuring that the remaining work could be completed before the end of the year.
