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September 30, 2014 | Filed under: Real Estate | Author: Chuka Uroko

After three years of careful, intensive and extensive preliminary works involving the design of its master-plan, Asokoro Island Limited unveils what is unarguably Abuja’s novel and exclusive destination offering uncommon opportunities for luxury living, business and leisure.

Known as Asokoro Island, this 21st Century city that derives its name from the accident of its location is nestled immediately beneath Aso Rock and surrounded by the shores of the Pendam Lake which gives it bespoke natural ambience with a lush green façade.

Consistent with modern city development, Asokoro Island incorporates residential, commercial and leisure facilities that satiate hunger for quality living and desire for business and relaxation in a secure, serene, clean, eco-friendly, energy efficient and sustainable environment.

Suleiman Yahyah, the chairman of Asokoro Island Limited, explained to a select group of journalists in Abuja that “from the original vision, we seek to position Asokoro Island as a unique integrated development that will feature its eco-friendly credentials ideal for private, business, diplomatic residence and for work, play and leisure”, adding that the island, which has Julian Zapata, a leading Spanish Architect, as Project Manager, is a new way of living in the present while looking at the future.

At its residential section, the Island which sits on approximately 60 hectares of land with an estimated cost of $1 billion, comprises different house-typologies such as apartments and villas, and according to Yahyah, each of the five apartment buildings is designed with fresh and elegant architectural style. They benefit from private balconies, mezzanines and floor-to-ceiling windows, beautifully appointed to allow for the most spectacular views of the Pendam Marina, while each block has its own swimming pool and sun terrace.

The Island presents 40 individually designed luxury villas ranging from duplex houses to sprawling three-storey residences, each featuring bespoke architectural details that meet the unique needs and desires of its prospective occupants. They comprise golf view villas, royal villas which are facing the lake; presidential villas which are like presidential suites, and diplomatic villas for ambassadors.

The commercial and work section presents hotels, offices, shopping malls, business and primary schools. “Abuja was planned to provide commercial buildings only at the central business districts and so many residential buildings are being converted to commercial buildings. Here, we are planning purpose-built commercial buildings beside residential buildings to provide flexibility of living”, Yahyah said, disclosing that their plan is to provide 150,000 office spaces of international standard.

Apart from the six-star hotel planned for the Island, he said that they would also be providing four-star and five-star hotels, explaining that whereas the four-star would offer 250 rooms, the five-star would offer 100 rooms with conference facility for 500 people.

For leisure and relaxation in the Island, provision has been made for a 9-hole golf course, a theatre and a museum which would provide information on Nigeria’s cultural diversity. “Asokoro Island is designed to offer extensive leisure opportunities, from a lush 9-hole golf course surrounded by tropical flora to the picturesque marina on Pendam Lake. Nature enthusiasts will delight in its botanical garden, while those in need of retail therapy can enjoy the elite brands and boutiques of its mall. Children are well-catered for too, with a water-park, interactive zoo and an aquarium offering thrilling family fun and a multi-screen cinema showing all the latest blockbuster movies”, Yahyah assured.

Because of its complex structure, the Island would be delivered in four phases that will run through six years. The first phase estimated to cost $250 million is expected to be delivered in 18-24 months. It involves the building of the bridge which will be one of the access routes to the Island, the apartments and the basic infrastructure such as power, water, sewage plant etc.

A major highlight of this development, which infrastructure will be handled by Dantata and Sawoe, is the massive direct and indirect jobs it will generate from the construction stage to the services to be provided by the hotels, restaurants, malls among others. The chairman estimated that, cumulatively, about 10,000 jobs would be provided with over 3,000 living and working in the Island.

He disclosed that funding for the project was a combination of equity and debt, pointing out that interests in the project have been received from private equity investors and foreign institutional investors. “In the first phase of the project, we have 180 units of apartments and so far we have got about 25 percent off-takers who have made commitments even before the pre-launch that will happen in few days”, he enthused.

“We are confident that the wheel will not be reversed on this project; we are moving forward; the investment is good for Abuja and also good for Nigeria. What we are doing is in line with the transformation agenda of the federal government and, as democracy continues to get stronger, we are hopeful that all those yester-years activities that were negatively disruptive will not happen again”, he emphasized.

Chuka Uroko