Re-Clouds hang over Centenary city

Our attention has been drawn to your publication on Monday 17th August 2015 on the above. In your publication, you mentioned that the Chairman NIESV Abuja could not estimate the value of land for Centenary City but an Estate Agent gave a value even though the value was questionable. It is pertinent to mention here […]

Our attention has been drawn to your publication on Monday 17th August 2015 on the above. In your publication, you mentioned that the Chairman NIESV Abuja could not estimate the value of land for Centenary City but an Estate Agent gave a value even though the value was questionable.
It is pertinent to mention here that we rejected in strong terms the assertion. We had declined comment on the project as we do not want to be drawn into murky water of politics.
As a professional body, we are real estate professional whose core competence covers areas such as valuation of properties and other assets (including plants and machinery) letting and sale of properties and  facility management, feasibility and viability appraisal and project management to mention a few.
Our understanding is, that the Centenary City is a design to reproduce a model of Dubai and will be built in phases spanning a period of 15 to18 years. We understand that investors can make an installmental payment of 10 percent of the total cost of their desired property, 20 percent within two months and remaining payment spread over the next five years.
The site is located 4km from the Nnamdi Azikwe Airport. The Centenary City spans across a 1,300 hectares of land with a 65-hectare park Africa Tower featuring modern residential and office spaces. It was designed to house the  latest shopping mall in the West Africa region and the Abuja grand bazaar, a venue that celebrates the nation’s cultural and indigenous  architecture.
In all, we had offered to promote the project through our involvement and participation in line with the local content intiative of government. We would have ensured that there is in place a CAR (Contractors All Risks) insurance policy from a reputable Nigerian insurance company to cover the construction personnel.
We had earlier proposed to the Centenary City that we, Estate Surveyors and Valuers cannot afford to be on-lookers of the Centenary City development project but rather to offer our professional services to the benefit of the project.
We also wish to use this medium to inform the various government agencies that we are ever ready to render our professional services in the area of Valuation of all the confiscated assets. We are ready to partner with President Buhari on anti-corruption war.
Emmanuel Alao is Chairman, Nigerian Institute of Estate Surveyors and Valuers  NIESV  Abuja Chapter