By Harry Awurumibe, Editor, Abuja Bureau
Determined to actualize the dream of setting up a smart city in the Federal Capital Territory (FCT), the management of Centenary City Free Zone Enterprises on Tuesday in Abuja hosted a summit for top Nigerian real estate developers to convince them to key into the development of the new city within the seat of government.
This is even as Centenary City has offered developers a mouth-watering incentives of 30% discount for First Movers Advantage (FMA) who are ready to buy land outrightly and spread the remaining 70% over a period of three years.
Speaking at the real estate talkshop in Abuja, the Managing Director of Centenary City Free Zone Enterprises (FZE), Dr. Odenigwe Ike Michaels Jr. said that the dream of setting up a smart city in FCT is becoming a reality as the project owners are now actively building residential units and infrastructure, with the construction of access roads by Messers Julius Berger Nigeria Plc. and luxury housing estates already visible.
According to him, as an approved Free Trade Zone (FTZ) under the Nigeria Export Processing Zone Authority (NEPZA), the Centenary City operates with tax holidays and duty-free benefits, aiming to attract both local international investments.
Michael Jr. stated that
Centenary City FZE is the Master Developer the project, and is not in competition with other real estate developers, explaining that the idea of engaging other reputable developers is to guarantee the development of the city according to the vision reflected in the original Master Plan.
He therefore said that Centenary City Project presents a great opportunity to create value and raise Abuja’s profile – to encourage international investment in Abuja.
Said he: “The project is designed to work in harmony with nature. The Districts and Communities are designed to fit in among the natural landscape, offering both an impressive downtown skyline and peaceful suburban living.”
He said the City is conceptualized as a truly multifunctional development that offers a complete cosmopolitan lifestyle to its residents, as well as serves as a tourism hub for the wider community.
He revealed that upon completion, the 1,260-hectare project aims to feature a 1.5 km commercial boulevard, a financial district, a museum, an 18-hole golf course, and a safari park, designed to mirror cities like Dubai and Singapore.
He insists that high-density mixed-use developments like Centenary City can be a powerful engine for economic growth, stability, and resilience, saying that they create economic benefits that ripple across every level of the economy — from rising property values and healthier municipal budgets to stronger local businesses, job creation, and regional competitiveness.
Said he: “Compared to traditional single-use projects, high-density mixed-use developments like Centenary City are also more cost-efficient to build and operate. They use less land, require less infrastructure — shorter utility runs, reduced parking — and therefore less capital per square foot of gross leasable area.150 Units on 5,000 sqm.”
READ ALSO:
- 2026 FIFA U-17 WWC: How Oduntan’s goal sent Nigeria into semi-finals
- 2026 U-17 WWC: Flamingos outclass Venezuela to book semi-final spot
- Two Europe-bound Nigerians arrested with 200 cocaine wraps at Abuja airport
- ‘I Lavished My First Big Earnings’ – Don Jazzy
- Adeboye faults journalists over false claim he protested against Jonathan
He said the result is a model that combines lower risk, higher returns, and long-term financial stability, while enhancing the vitality and economic performance of the communities it serves.
“Thoughtfully planned and designed mixed-use developments like Centenary City offer a powerful strategy for addressing the cultural and socio-economic diversities that divide us.
He argued that traditional zoning often isolates people by income, race, or occupation, reinforcing inequality and limiting mobility. For example Asokoro, Maitama, Wuse, Gwarinpa, Lugbe, etc.). In contrast, diversified mixed-use districts in Centenary City integrate all sides of day-to-day existence into a compact environment that fosters daily interaction across a broad cultural and socio-economic spectrum.
“When inclusively conceived, mixed-use developments like Centenary City break down barriers of income and access. Affordable “luxury” housing alongside market-rate options reduces segregation and supports diverse, resilient communities. Walkable access to jobs and essential services lowers transportation costs”, Michael Jr. concluded.
Also, speaking on the infrastructural development of Centenary City, the representative of Julius Berger NigeriaPlc, Mr. Johnny Houchan disclosed that the company has gone far in the provision of critical infrastructure like access roads of the total length of 4.3 kilometers.
He said the road, which people are seeing the asphalted portion includes all types of road utilities underneath like a three kilometers of waste-water lines, four kilometers of storm water pipes of various diameter, and 12 kilometer of conduits for power supply and telecommunication and water supply.
“In addition, we will have two meter walkway and two meter verge from each side of the road. Here you can see that we are doing the box convert of to cell…. We are talking about the 12 meters carriageway of two directions set up of g four lanes with the right of way of 20 meters.” Houchan stated.
He argued that the contract, which was signed last year on the 15th of August, has reached 47% completion and will be delivered before the commissioning date of April 2027.
Meanwhile, the Director of Sales, Centinary City, Mr Kenneth Njoku, who spoke on FMA Investment Opportunity described the Centenary City is one of the most visionary urban development concepts connected to Abuja.
According to him, it is about legacy, heritage, becoming part of a future city designed for generations now and future hence those in real estate business should take a step of faith to key into the project.
Said he: “So if you are in NIMASA, NNPC, whether you’re in the oil and gas sector, you are in the health sector, you are still in the real estate business. And so the First Mover Advantages (FMA) seeks to help everyone and every investor secure strategic position before the next major growth acceleration is fully matures.
“So it’s a great opportunity that you are here that we selected this few to come in as the first movers, so it’s up to you to choose and decide what you want.
Imagine the early movers who positioned in places like Banana Island, for some of us who know Lagos very well.”
Njoku however told the real estate developers that they could come in as Joint Venture (JV) developers or outright buyers, asking them to strategize, and get back to Centenary City management as quick as possible within the next two weeks.
“Then the next one, which is very important, is you want to buy the land, and right here or if you’re interested in buying the land, and you’re willing to pay everything at once, we’re ready to give you a 30% discount on the cost of the land today. If you’re ready to purchase any land and you’re saying, I want to pay 100%, we’re ready to give you 30% of the land cost.
“So, for any organization who’s willing to do that? We’re willing to give you that opportunity today, and that gives you immediate equity advantage, significant savings, increased long-term RRI potential, and stronger second position opportunity.”
