Uche Usim, Abuja
Wisdom Kwati City, an estate developing firm at the weekend said it has secured materials worth N6 billion for the construction of 100 units of mixed apartments in Abuja and bungalows in Adamawa State.
The Abuja apartments will gulp N4 billion, while the bungalows in Adamawa will cost N2 billion.
The disclosures were made in a statement by the Chief Executive Officer (CEO) of the company, Mr. Wisdom Kwati.
According to him, construction will commence the rains cease in September.
His said: “We are taking off with Adamawa and Abuja silmotanously. We have secured materials worth N4billion for about 100 units of mixed apartments in Abuja. We have also secured about N2billion materials for bungalows in Adamawa State”. He added that the company has global partnerships with five firms and has already secured a full corporate offer of about $9billion for the projects.
He noted that the company already has $500million available for disbursement for commencement of works in the sites.
Besides, the CEO noted that the company has accessed other corporate entities locally that have invested the about N2 billion in the projects.
According to him, Wisdom Kwati City has secured lands valued over N10 billion in Lagos, Abuja, Adamawa , Akwa-Ibom, and Kaduna.
In his highlights of the smart city estates, he said that Abuja estate is about 15,000 housing units in about 105 hectares in Lugbe 1 Extension, just beside River Park and behind Dunamis church. He also explained that the Adamawa State project is located on a 15 hectares at Namtari, Numan Road, just after welcome to Yola.
He said that : “Currently, for Wisdom Kwati City, we are having partnership with about five global firms. We have secured the full corporate offer for the project about $9billion for the project.
“Already, we have about $500million ready to be disbursed directly to begin work on sites. We have been able to access other corporate entities locally that have invested the tune of N2 billion so far.