Promoters begin work on N114bn Asokoro Island
Category: News
Published on Monday, 29 September 2014 05:00
Written by Yunus Abdulhamid
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Work will begin in earnest on the $900m (N144bn) Asokoro Island in October, chairman and lead promoter of the Asokoro Island Ltd, Suleiman Yahyah, has said.
Addressing newsmen in Abuja, Yahyah, who is the board chairman of NAHCO Aviance Plc, said the project when completed would take the pressure off the Abuja city center and provide top class business and residential as well as recreational facility. The project is a private sector-led initiative with the support of the FCT administration, he said. “Already, a contract to build the ground infrastructure such as roads, sewage etc. on the Island has been awarded to Dantata and Sawoe Construction Company and actual work begins in earnest in October,” Yayah explained. The project is being promoted by individual and institutional investors with more than 35 off-takers.
The project which will be in four phases will be completed in six years. “There will be a 9 holes gulf course which will take a good portion of the facility. There will be theatres, shopping malls, six star hotels, commercial centers tied to residential apartments starting from one bed room studios to villas tied,” said Yahyah. The first phase will involve the building of bridges, roads, food court, and residential apartment for people to move in and will cost $250m. It will be completed in 24 months.
“Hotels, offices and shopping malls will be built in the second phase while the third phase will have villas and pent houses. Overall, the entire project will provide job opportunity for an estimated 5, 000 people,” he explained.
Yahyah is upbeat that a Museum which is a part of the project will provide the much needed space to become a home for Nigeria’s historical artifacts in the capital city, attract tourists and revenue earner for the country.
The 60 hectares of land project is bounded by the Pendam Dam and Aso Rock to the north and the Abacha Barracks to the South East.
“We are determined to push this project in spite of the insurgency. It will take the steam off the money going out of Nigeria for investment. We believe charity must begin at home,” Yahyah said.
The Asokoro Island master plan was designed by Spanish architects.