Construction works have begun on the first phase of the centenary city in Abuja, a project which would cost a whopping sum of $180.6 billion with a completion period of ten years or more. Addressing journalists on Tuesday in Abuja, the Executive Director, Eagles Hill, Mr. Jaimal Shergill, said the first phase of the project would be completed in four years. According to him, the first phase named ‘The Address and Residence’ would offer a combination of residential and hotel spaces, spanning across 25 hectares of land with world class amenities, restaurants and more. He added that ‘The Address’ would bring its five-star services to elevate the city’s standard of living with luxury villas featuring four to nine bedroom units. Despite being a Public Private Partnership (PPP), Shergill explained, the centenary city, as a free trade zone, would be exempted from both federal and state taxes, pointing out that it would also be exempted from the Federal Capital Territory (FCT) property tax. - See more at: abujavoice/construction-work-begins-on-phase-i-of-180-6bn-centenary-city/#sthash.RWSZIF7X.dpuf
Posted on: Wed, 26 Nov 2014 23:28:48 +0000
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