By Philip Yatai
The Federal Capital Territory Administration (FCTA) has signed a Memorandum of Understanding (MoU) with Suburban Broadband (SPV) to develop Jabi Lake Waterfront into an international luxury destination.
Mr Ahmed Nasser, leader of Suburban Broadband, said during the event in Abuja, that the MoU marked a significant milestone in the Nyesom Wike-led FCT Administration’s vision in making Abuja a tourist destination.
Nasser expressed the consortium's commitment to the vision saying, “This partnership marks a pivotal step in redefining Abuja's skyline and global reputation.
“Jabi Lake Waterfront will cement the FCT's status as Africa's leading capital city”.
He explained that the project aims to position Abuja as a premier global landmark, with officials drawing ambitious comparisons to iconic sites like Dubai’s Palm Jumeirah.
He said that the initiative was designed as a mixed-use development that would serve as a massive engine for economic growth in the FCT.
According to him, the goal is to generate thousands of direct and indirect employment opportunities for residents, and develop premium residential, commercial, hospitality, and recreational facilities,
“This will elevate Abuja’s status to attract high-net-worth international business and leisure travelers.”
The Suburban Broadband delegation included prominent Mrs Olufunmilayo Hannah Aigbomian, Mr Idris Usman of First Trust Mortgage Providers, and Mr Pankaj Khandelwal, the project’s foreign technical partner.
On his part, Wike said that the Jabi Lake redevelopment was the latest in a series of strategic moves by the FCTA to prioritise Public-Private Partnerships.
He said that the Administration views such collaborations as the primary engine for sustainable development and a necessary step in improving the quality of life for all Abuja residents.
“With the signing of this MoU, the transformation of Jabi Lake from a local waterfront to a world-class luxury hub has officially begun,” he said.
The Minister urged the consortium to adhere strictly to the terms of the MoU, emphasising that the FCTA expects nothing less than transparency, sustainability, and excellence.
Responding, Khandelwal affirmed the company’s resolve to deploy cutting-edge international expertise and innovative designs.
Khandelwal pledged that the consortium would mobilise to the site immediately to meet the stipulated delivery timeframe.
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