investment PROJECTS
The FCTA expects reasonable Conceptual designs for the purpose of determining the technical competence, financial capability and the percentage of land to be ceded to an Investor during the negotiation of the Development Agreement.
Investors are to provide, within 14 days of the signing of the MOU, the sum of N350 million Commitment Fee in a project account to be supervised by the FCTA for the funding of the following activities as a prelude to concluding negotiation on the Development Agreement:
•Physical Plan
•Preliminary design
•Survey plan
•Feasibility Studies
•Engineering Design & Costing
•Preparation of Agreement
The Federal Capital City (FCC) is made up of districts (both business and residential) that are being developed in phases. Currently all the development in Abuja are under Phase I, II and III, WITH A 95%, 80% and 60% completion rate respectively.
KNOX EMERALD CITY HOUSING PROJECT – FCT, ABUJA, NIGERIA
About the FCTA Land Swap Program
The Land Swap Program in the Federal Capital City (Abuja) is a Public Private Partnership (PPP) land ownership policy of the Federal Government of Nigeria (FGN) that involves granting of land to competent real estate developers who would provide the complete infrastructure (Roads, Water, Electricity, Telecommunication Ducts, Sewer lines, etc.) needed for the development of the land allocated.
After the development of the critical infra-structure by the investor, the ownership of that land will be shared between the investor and the government on a 60% - 40% basis respectively.
The Land Swap option will be used for the development of Phase IV of the FCC.
STATUS OF DEVELOPMENT IN THE FCC
Phase I has 6 Districts consisting of the Central Business District (CBD), The Three Arms Zone, (which includes the Presidency, National Assembly and the Supreme Court), Maitama, Wuse, Garki and Asokoro.
Phase II is comprised of 5 Districts. They include Kado, Durumi, Gudu, Utako and Jabi.
Phase III is made up of 4 Districts consisting of Mabushi, Katampe, Wuye, Gwarimpa, Gaduwa andDutse.
Similar Land Swap Developments in Abuja
A similar development under the Land Swap Initiative, The Centenary City a tribute development to commemorate Nigeria's Centenary celebrationin 2015 is now selling in Abuja. It has 40 promoter investors led by Eagle Hills, owners of the Address, Dubai.
Knox Energy limited ‒ FCTA Land Swap
In the wake of the desire of the Federal Government of Nigeria to adopt the Land Swap development model for the development of the Federal Capital City, Knox Energy Limited, promoted by General Chris Garuba (Rtd), applied for participation in the program.
Knox Energy Limited came out successful and was given a District; and this is the reason why Knox Energy Limited is seeking for Partner Investors for a lucrative business opportunity.
Development of Bude West District (B)
Knox Energy Limited has been allocated Bude West District (B) consisting of 440.99 Hectares in the current Land Swap Program of the FCTA.
Knox Energy Limitedwill put together a technical team that will work with the FCTA team to make the following submission as part of the requirement for final signing of a development agreement for the District.
The documents to be produced will include: Physical Plan; Preliminary design; Survey plan; Feasibility Studies; Engineering Design & Costing and Preparation of Agreement.
The Need
Knox Energy Limitedis desirous of having credible and experienced Partner Investors to develop the District awarded to it.
Ownership Structure of Bude West District (B)
The awarded Bude District (B) would be owned by Knox Energy Limited and the Federal Government (represented by the Federal Capital Territory Administration) on a 60% - 40% basis respectively.
(Though this could be negotiated).
Land Swap Ownership Structure
Considered as Flexible, yet depending on the number of interested core investors. The Promoter is willing to enter into a 50/50 ownership and a creation of an S.P.V Company that will own the project.
Ownership Structure of Knox Energy Limited
Considered as Flexible yet depending on the number of interested core investors. The Promoter is willing to enter into a 50/50 ownership and a creation of an SPV Company to own the project.
OUR STRATEGY
Knox Energy Limited needs competent and reliable partners to achieve its goal of developing the 440.99 Ha of land. In order to achieve this, Knox Energy Limited needs an initial investment to commence all the preliminary works as itemized above (Projects At Hand).
The benefits are as followed:
