IN spite of the downturn in the Nigerian economy and the falling Nigerian currency, real estate enthusiasts are optimistic that the phase one of the World Trade Centre (WTC), Abuja, an upper strata of luxury real estate, will be delivered this year as projected by the developers.
The World Trade Centre, Abuja, is a mixed-use development consisting of luxury residences, AAA offices, 5-star hotel and shopping malls. The phase one of the ambitious project is among the other high profile real estate developments expected to be completed by 2016.
At an exclusive chat with a host of estate valuers and agents in Abuja last week, the Group Managing Director of Churchgate Group, developers and promoters of the multi-billion naira centre, Mr. Vinay Mahtani, stated that customers’ interest has been overwhelming and affirmed that his organization remains committed to delivering of the phase one of the WTC, Abuja project this year.
Surveyors and valuers
According to Mahtani, there has been a growing demand for quality real estate, both residential and commercial. “Many people share our dream of building world-class projects in Nigeria and Nigerians, living both locally and in the diaspora, have shown their confidence in us through investments made already”.
Speaking on behalf of the estate surveyors and valuers in attendance, Olusola Akinsola who expressed his satisfaction at the level of completion of the project, stated that the ripple effect of completing the WTC, Abuja project will be good for the real estate sector and the Nigerian economy at large.
According to him, “Housing is no more about shelter. It is about employment, economic inclusiveness and multiplier effect on the local economy”. He opined that the World Trade Centre Abuja, being the first of its kind in West Africa will bring all of these to the Nigerian economy.
Commenting on the potentials of the WTC, Abuja when completed, Assistant General Manager, Corporate Communications, Churchgate Group, Mr. Femi Awopetu said that the WTC, Abuja will be an economy driver in itself, bringing together corporations and individuals and providing a platform on which they can conduct businesses. Awopetu added that the project will also impact the economy and improve the welfare of lives.
“We have already created employment for thousands of people during the construction of Phase One and this will continue throughout all subsequent phases of the project”, Awopetu said. Construction of Phase One of the massive project is now at the final stage.
This consists of a residential tower that will offer luxury apartments with modern amenities and a AAA commercial tower that will accommodate businesses of all sizes. The buildings, comprising 24-storeys each, are set to define Abuja’s skyline. The commercial tower is the tallest office building in the nation’s capital, while the residential tower is the tallest residential building in Nigeria.
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