an international

vision f o r abuja
PROJECT PRESENTATION
EXECUTIVE SUMMARY

• Centenary City is a world-class mini-city project being developed in Greater Abuja, Nigeria.

• Spread over 1,262 hectares, the project is being developed in phases: the initial
Phase I, is 4.9 million sqm of Gross Land Area and 5.3 million of Gross Floor Area.

• The project was conceived by the Government of Nigeria and is being executed as a
private sector initiative through Centenary City FZE (CCFZE). Centenary City
FZE is a subsidiary of Centenary City PLC (CCPLC) with 100% share holding.

• Centenary City FZE (CCFZE) is development company with professionals in the

Built environment with the mandate of Centenary City PLC (CCPLC) Board to develop
the land directly or through Project Specific SPA’s.

• The entire project is designated as a Free Zone, to be managed by the

Centenary City FZC (CCFZC) as the asset holding Company. Significant
investment already taken place, with over $120 million of actual spend.

• Some initial sales for villas took place through a soft launch. A formal launch for
“The Grove”, serviced land for the co-development of townhouses, took place in
September 2018 - this sub-development has been extremely successful with over
80% plots leased to date.

• Investment / Co-Finance is being sought for quicker development of the site. This
financing can be appropriately sized for those contractors who prefer a larger
construction value or wish to play a strategic long term development role.
KEY CONSIDERATIONS

COMPETITIVE TITLE &

DEMAND
ADVANTAGE LICENSES

• The Capital of Nigeria was moved from Lagos to
Abuja in 1992 and it grew by 139.7% between
2000 and 2010.
• This made it the fastest growing city in the world.
• The city is still growing at 35% pa making it one of
the fastest-growing cities on the African continent
and one of the fastest-growing in the world.
• Centenary Economic City Free Zone (CECFZ),
is a mixed-use free zone. The free zone offers
extensive tax breaks.
• Exemption from Corporate Income,
Withholding, Dividend and Capital Gains tax.
• Customs for imports of building material average
will be exempt from customs duties.
• Nigeria Export Processing Zones Agency
(NEPZA) has confirmed title of the land in the
free zone.
• Licenses to manage the free Zone are in place.
• Compensation for resettlement is complete and
construction for the resettlement site is 50%
completed.

BARRIERTO
TEAM
ENTRY

• Centenary City was launched with the full
backing of the Federal Government of Nigeria.
• A similar sized development at Eko Atlantic in
Lagos was also launched much earlier..
• Both projects have taken 5 years to get all the
titles, unencumber the land and obtain all the
licenses.
• The Chairman of CCPLC is Gen. A. A. Abubakar,
GCFR, former President of Nigeria
• The Board comprises eminent business people
and Nigerians.
• Centenary City FZE as the master developer
comprises professionals in the built environment
with local and international experience in large
scale project development.
KEY CONSIDERATIONS

MASTER LANDVALUE REVENUES

DEVELOPER

• Centenary City Developers FZE is incorporated
at NEPZA as the Development company
• Pre operations activities have been transferred to
the Centenary City Developers FZEby Centenary
City PLC Board .
• 5.3 million sqm of Gross Floor Area of Raw
Land has been designated as Phase One land,
valued at $300 per sqm, or $1.589 billion.
• Centenary City FZC equity stake of 100%.
• An additional 3.263 million sqm of Gross Floor
Area of Raw Land valued at a minimum of $979
million has been designated as Phase Two land
• Total sales of over USD 13 Million completed;
circa $5 million in customer down
payments collected.
• Contractor Financing is sought to accelerate
development.

ASSETS POLITICAL
COST
RISKS

• Masterplan and land costs includes USD 120
million of actual spend.
• Costs from cost consultant are being value • Various obstacles have been dispensed with
engineered to within feasibility over the previous years to leave a clear runway
• Total Building Cost is estimated at over for project implementation.
$18 billion.
• Making it attractive for an International
Contractor to Invest and/or Finance.
FREE ZONE Centenary City PLC (CCPLC) manages the Centenary Economic City Free Zone (CECFZ), with a 100% equity
interest in Centenary City FZC (CCFZC), the Zone Management Company. This entity will be Responsible for all
policies, regulations and fee structure within the Zone.

THE FREE NEPZA

ZONE QUICK FACTS

• One of first licensed mixed-use Free Zones in • Nigeria Export Processing ZonesAuthority
Nigeria. • Set up based on the NEPZAAct 1992
• All Federal Government Agencies - Police, Customs, • Regulator for all Free Zones in Nigeria
Immigration etc. are present in the Zone and work
with the Zone Mgmt entity. • Issues license to the Zone Manager, to manage the
zone.
• Flexibility to set own tariffs in the Zone
• TaxAdvantages of Free Zones
• Set own building and design guidelines
• No Custom duties on imports into the Zone
• Registration of all Enterprises in the Zone
• No Corporate Income Taxfor Enterprises
• Manage the Real Estate and Corporate Registry
a) No DividendTax
• Ability to issue own title deeds
b) No WithholdingTax
• Facility management of the Zone
c) No Capital Gain Tax
• NEPZAhas confirmed the validity of the title
d) No Income Tax for residents
• Zone Management license issued to Centenary City
Free Zone Company.
NIGERIA REAL ESTATE MARKET
DRIVERS CONSTRUCTION BUSINESS ENVIRONMENT
• Nigeria’s real estate sector share is about 4% of the country’s GDP. It has
registered double digit annual average real growth (c. 11%) during 2008-15.

• Nigeria needs to produce about 7.2 million units annually for the next 20 years, 145RANK
34
DAYS
85
DAYS
due to higher urbanization rates.

• Access to mortgage finance is very limited owing to high interest rates. Properties Ease of Starting Construction
are mainly bought in cash. Doing Business aBusiness Permits
• Relatively high cost of housing is due to the fact that over 60% of raw materials are
imported: import duties and fluctuation in price with the exchange rate. This is an
2017

29.2% 0.4% 61%

advantage in Centenary City: it is a free zone

• Rental market terms routinely include two years of advance payments by the new
% OF POP. % OF GDP % OF TOTAL
tenant, making it a landlords market. POP.

• No management or maintenance companies outside of captive corporate entities.

Access to Mortgages Urbanization
• Risingurban population, changing lifestyles and emergence of an affluent middle Financial Institution
class are the main drivers for the real estate sector.

• Because the Free Zone is managed by CCFZE, the ease of doing business,
is lowered to international standards. In the Free Zone, ease of doing business, starting a business and construction
permits are easier because the Free Zone Management Company is privately
run by the master developer JVCO.
• The Free Zone Manager also issues building permits and licenses, and
construction permits will take a fraction of the 85 days currently required.
ABUJA
RISING
PROJECT OVERVIEW
PROJECT LOCATION AND GROWTH CORRIDORS

9KM
CCFZEOM
AIRPORT

New Abuja City Gate

ADJACENT TO SITE ABUJACITY
22KM
CCFZEOM OLDABUJA
CITY
AIRPORT
CORRIDOR

APO
CORRIDOR
LUGBE
CORRIDOR

CENTENARY
CITY

KUJE
CORRIDOR
MASTERPLAN
Masterplan by World Class Architects and
Consultants

RTKL Architects, London.

Dar Al Handasah, HKS, SOMA, Adjaye
Associates, Harwood Kirsten Leigh McCoy (Pty)
Ltd. Robert Mathew & Johnson Marshall &
Partners, Bassenian Lagoni (BLA), Dexter
Moren Associates, WAT&G, DP Architects, AB
Group, Control Risks and AECOM.

Fully approved by
NEPZA & FCDA, in compliance with Greater
Abuja masterplan.
PROJECT COMPONENTS

6
LEISURE ACTIVITIES RESIDENTIAL HOTELS CONVENTION CENTRE
DISTRICTS
18 HOLE
GOLF COURSE 2100
VILLAS
520,000 M2
OF HOTEL SUITES &
SERVICED APARTMENTS
3.34 MILLION M OFFICE BUILDINGS

3
2

170
IN INTERNATIONAL
SECURITY GATES & BUSINESS CENTRE
INTEGRATED GOLF COMMUNITY FENCING FOR EXTRA

10
SAFETY
WATER MUSEUMS & CULTURAL
CCFZEONT
RETAIL
CENTRES
APARTMENT BUILDINGS
APPROX 10% CENTRES

30 APARTMENTS
FLOORS OF LUXURY
IN TOWERS
GREEN AREA OF THE TOTAL SITE
THEME
5 MAJOR
RETAIL
CENTRES SCHOOLS 24/7 4G FIBRE
UNINTERRUPTED
PARK

11.7HA
POWER SUPPLY OPTIC BROADBAND
NIGERIA PARK MIXED USE URBAN CENTRE NETWORK TO
PROPRIETARY EACH HOME
AND
SECURE WATER
SUPPLY
COMPANY LAND
DEVELOPMENTHIGHLIGHTS

• The area for Phase I development comprises 2.16 million sqm of Gross Land Area and
2.26 million sqm of Gross Land Area.

• Phase 2 is further sub-divided into 3 Phases with a total 4.202 million of Gross Land
Area and 5.600 million sqm of Gross Land Area.
.
• CCPLC has option to develop and retain some assets like Hotels, Mall,
Retail/Entertainment and Offices as investment property through the Zone
management company Centenary City FZC .

• The Master Plan and phasing can be amended based on market considerations as
the development progresses.

• Centenary City FZC operates as the Zone Manager and designed the
Development Control Guidelines based on which Construction and Building
Permits are issued.

GROSS LAND AREA GROSS FLOOR AREA

PROJECT PHASING
(SALEABLE LAND AREA) (DEVELOPABLE AREA)
PLAN 2 2
M M
1 PHASE 1 2,156,125.00 2,224,725.00
2 PHASE 2A 2,402,434.00 1,336,934.00
3 PHASE 2B 1,147,236.00 1,807,577.00
4 PHASE 2C 652,559.00 2,456,055.00
5 PHASE 3 1,568,623.00 1,044,359.00
TOTAL 7,926,977.00 8,869,650.00
This presentation is made by Centenary City FZC (“ CCFZE”). This presentation is confidential and for your private use
only, it may not be shared with others without prior written approval of CCFZE. All materials, text and information
contained herein may not be reproduced in whole or part by any means without prior written permission of CCFZE.
While all reasonable care has been taken in preparing this presentation, no reliance may be placed for any purposes
whatsoever on the information contained in this document or on its completeness.No representationor warranty,
expressor implied, is given by or on behalf of CCFZE,any of its directors, or any other person asto the accuracy or
completeness of the information or opinions contained in this presentation and no liability is accepted for anysuch
information or opinions. All information and opinions aresubject to change without notice.

Additionally this presentation relates to future businessan expected valuation/financial performance and future events or
developments. This information is based on the current expectations and certain assumptions of CCFZEand is,therefore,
subject to certain risks and uncertainties. A variety of factors could affect the proposed operations, performance,
business strategy and results described in this document and could causethe actual results, performance or
achievements to be materially different from current expectations. This presentation is for discussionpurposes only and in
no way constitutes an offer or recommendation to sell, purchase or subscribefor any investment nor a solicitation of such
an offer. You are advised to consult with your own professional adviser with respect to anymatter contained in this
presentation.

This presentation is intended for institutional and professionalclients only and is not intended for useby retail clients.

Centenary Economic City, Airport Road, Wawa District, Abuja