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First solar commercial hub for construction in Owerri

First solar commercial hub for construction in Owerri

The first solar commercial hub is set for construction in Owerri, according to the board and management of Solarcity Housing and Commercial Estate Limited (SolarCity H.A.C.E.), a real estate development company based in Abuja in partnership with Fidelity Bank, the project financiers.

The project is a multi-billion naira, multi-use, multi-faceted project located at the heart of new Owerri which upon completion will become the commercial hub and focal point for business activities in the city.

The mood in Owerri – the Imo State capital was joyous and upbeat last Wednesday during the ground-breaking ceremony of the Denka Business City project at New Owerri.

The ceremony which signalled the commencement of the long-awaited project had the Igwe of Orlu as a special guest of honour.

Solomon Nwaoku, executive director (operations) of Solarcity H.A.C.E; who spoke during the ceremony give a firm commitment that the project will be completed within 18 months.

He said that the commercial estate, occupying over 2.1 hectares of land, will comprise a mix of shops, offices and commercial apartments (two-bedroom apartments and one-bedroom apartments) to be sold to interested subscribers.

The location is ideally situated a few blocks from the popular Concorde Hotel, adjacent to Mimi’s place and directly opposite the new Everyday Supermarket. It is also bounded in the north by the Imo State House of Assembly complex.

Read also: US Company unveils plans to provide solar mini-grids for 5000 Nigerian households

Solomon explained that each of the shops and offices will be powered by solar energy adding that all the basic facilities including tarred roads, street lighting, water and on-grid electricity will be provided.

He said that Fidelity Bank will fund the construction of the project while CBN cooperative members are the major off-takers for the units.

Patrick Acholonu, Igwe XI1 of Orlu in his remarks thanked the developers and the landowners for collaborating to bring this huge investment to Imo State. He highlighted that Owerri still remains the most viable destination in the southeast for real-estate business with Imo State being the fifth largest GDP in the country.

He urged Imo indigenes to invest in the project by buying the units being offered for sale as such an investment will ensure quick returns and a strong appreciation in property value.

Also speaking, C. C. Osuala, Imo State Commissioner for Budget, Economic Planning and Statistics, who laid the foundation stone for the project lauded the prosperity initiative of the current government of Governor Hope Uzodimma which provided the inspiration for investors to undertake the project.

He observed that the project was in consonance with the present government’s drive to attract investments to the state and commended the project initiators for bringing a project that will bring the financial impact of this magnitude to Imo State.

In his remarks, the Imo State Commissioner for works – Ralph Nwosu, expressed the government’s attraction to projects that improve the city landscape and improve the urban status of Owerri.

He assured that the government will provide all necessary infrastructure required for the sustenance of the Business City. He promised to use his office to improve on all access roads surrounding the project site.

Earlier, the chairman of OCDA (Owerri Capital Development Authority), Innocent Ikpamezie confirmed that all due diligence protocols, statutory requirements and land ownership verifications had been concluded by the developers before the building plan approval was granted. He commended the developer’s seriousness and willingness to comply with all existing laws and regulations affecting the project delivery.

Other speakers at the event include Chukwunyere Amaechi- the director-general of Imo Geographic Information Service (IGIS), CBN Cooperative representative, Fidelity Bank representative and Perry Nwanguma who represented the Nwanguma Family – the landowners.