…Urges FG To Support Real Estate
A real estate firm, AIBEN Investment and Properties Limited, has unveiled a multi-billion-naira commercial complex, CitiMall, in Lugbe, Abuja, aimed at boosting economic activities, creating jobs, and providing a one-stop hub for shopping, business, and leisure.
Speaking at the unveiling ceremony,l at the weekend, Chief Executive Officer of AIBEN Properties, Dr. Andy Elerewe, urged the federal government to prioritise infrastructure development to attract more private investment into Nigeria’s real estate and commercial sectors.
The facility features over 60 retail outlets, premium office spaces, restaurants, and the Bourdillon Hotel with 60 elegantly furnished suites.
While pledging to stimulate economic activities, create jobs, and provide residents with a one-stop destination for shopping, Elerewe lamented the burden placed on private developers who often have to shoulder the costs of basic facilities in order to deliver projects.
He noted that with the right infrastructure in place, investments like the newly unveiled complex could multiply, creating jobs and reducing the strain on city centres.
He said, “We are diversifying, and to come up with something like this in this area is very gratifying. Particularly, I’m very satisfied and I’m happy because we now have results. It’s always very easy to start something, but you need a lot of courage to finish..
“I have to be honest with you. It’s not so easy because the infrastructure is not there to support things like this. But I don’t think it’s that bad. So, we also need to learn what we can do to support the government. The government is seriously overwhelmed.
“I’m not trying to speak for them. But for us, we’ll continue to do the best we can do to support the government and then to get the service across to the people. That’s the most important thing for
He argued that Nigeria’s market potential remains enormous despite perceived challenges, adding that Nigeria presents a vast market with immense opportunities, depending on the perspective from which one views it.
According to him, his team was pleased to embark on this project, expressing confidence that with proper management, it would deliver significant results.
He said the most important aspect of the initiative was service to the people, particularly residents of Lugbe, who now have access to a facility that caters to their basic needs.
Elerewe explained that the project was designed to provide convenience and improve the quality of life for the community.
The developer called on private investors to look beyond Abuja’s saturated city centre and channel investments into satellite towns with growing populations and untapped potential.
