The Federal Capital Territory Administration (FCTA) has signed development agreements with Suburban Broadband Limited and Akida Hills Limited to develop Jabi Lake into a modern recreational and leisure hub in Abuja.
Speaking at the signing ceremony, the FCT Minister, Nyesom Wike, described Abuja as one of the fastest-growing cities in the country with strong potential for tourism and recreation.
However, he criticised land speculators for slowing development by holding onto allocated plots without building on them.
Wike warned that landowners who fail to develop their plots within six months risk having their allocations revoked, stressing that the administration will no longer tolerate land hoarding.
Representing Suburban Broadband Limited, Managing Director Pankaj Khandelwal said the agreement marks a major milestone for the company, adding that the project will drive socioeconomic growth, attract investment and create jobs in the territory.
Similarly, Akida Hills Limited’s representative, Bamisile Olukayode, commended the minister’s push for rapid development and described the Jabi Lake project as an exciting venture. He said the facility would rival global attractions such as Times Square and the Dubai Fountain, positioning Abuja as a destination city.
He assured that construction would be completed before the end of the year.
The ceremony also featured the presentation of Certificates of Occupancy to the partnering firms as part of the formalisation of the agreements.
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