The Group Managing Director of Churchgate Group, Mr. Vinay Mahtani, in this interview with Adedayo Adejobi, talks about the first of its kind World Trade Centre to be built in West Africa and major roles the more than N200 billion building will play in driving Nigeria’s economy, among other things
Vinay Mahtani
Why is Churchgate Group investing in a World Trade Center in Nigeria?
The World Trade Center Abuja project was conceived in 2010. The project was envisioned with the intent of establishing an elevated lifestyle that does not yet exist in Nigeria; we are building a city within a city where people can live, work and play in a composite location. Abuja is internationally recognized as one of the only purpose-built capital cities in Africa, known for its well thought-out infrastructure and distinctive architecture, all serving its diversified affluent population. Hence, we at the Churchgate Group felt that the addition of the first West African purpose-built World Trade Center in Abuja would be ideal for a city that is fast becoming a hub for international trade and a home for aspiring entrepreneurs.
Is it a public-private initiative?
It is a private initiative. Though, we have the support of the Federal Government in the construction of the WTC Abuja.
Where’s the WTC Abuja to be located?
The World Trade Centre Abuja is located in the Central Business District, Abuja.
What informed that choice?
The location of WTC Abuja in the heart of the Central Business District gives our residents and community easy access to the whole city. The site access is also excellent; there is a dual-carriage highway that surrounds the entire site, enabling seamless flow of movement in and around the site. Furthermore, the upcoming light rail is currently under construction and one of the main railway terminals will be located right opposite the World Trade Center Abuja site, connecting us to the rest of the country.
Why not Lagos being the commercial capital of the nation?
Though Lagos is the commercial capital of the nation, Abuja remains the capital city of the biggest economy in Africa. Those who conceived the vision of Abuja as the nation’s capital city envisioned a city with good transportation network, infrastructure with modern amenities, modern housing units, high rise and skyscraper buildings and high-tech lifestyle that could be compared to other landmark cities of the world. Having the WTC Abuja also helps attain the status of a modern capital city in the 21st century What we are bringing to Abuja is the new concept of urban living, multifamily housing whereby you have all the amenities that you can ever dream of all under one roof. With the WTC Abuja, you are living in a community that is secure, convenient and accessible to the entire city of Abuja. We feel that the WTC to Abuja will also be an economy driver in itself, which will bring together corporations and individuals and provide a platform on which they can conduct business.
How much will the project cost upon completion?
At the inception, N156 billion was the original estimated cost of the project, however due to inflation as well as the devaluation of the Naira project will now cost in excess of N200 billion.
Where exactly are the finances coming from?
The project is privately funded.
When will the World Trade Centre Abuja be completed?
The Phase One of the project which comprises the Residential and Commercial towers will be completed by the first half of 2016.
Is it the first in Africa?
At the moment, West Africa does not have a purpose-built World Trade Center. WTC Abuja will be the first. With the construction of World Trade Centre in Abuja, it automatically becomes a member of the World Trade Centres Association and occupants within the WTC Abuja can join other members in utilising the services and facilities of all World Trade Centers throughout the globe.
What are the grand features of the WTC?
The WTC Abuja is a mixed-use development of luxury living, AAA offices, hospitality and shopping that offers unparallel luxury and comfort to those seeking a lifestyle above the rest. It is a multi-tower collection, each uniquely designed to appeal to global businesses requiring premier services including formal meeting space, top-notch security and the highest standard of interior finishes. The project is being developed in phases, with the phase one comprising the first set of residential and commercial towers while future phases include the construction of a shopping mall and a 37-storey hotel, which will be among the tallest skyscrapers in the continent. The Residential Tower features elegant one to six bedroom floor plans, with spacious balconies, concierge services, security, underground parking, tennis and squash courts, swimming pools, alluring penthouse, fitness centre while the Commercial Tower features AAA offices designed to accommodate an industrially diverse work environment. With flexibility in mind, the Offices can adjust to businesses of any size, ranging from 100 square meters to 1,440 square meters on a single floor plate. Along with its residential and commercial properties, the WTC Abuja will, at its core, contain the largest skyscraper in the region. It will promote and inspire Abuja’s promising future.
Don’t you think this might be another white elephant?
The WTC Abuja is not another white elephant. We are already at the completion stage of Phase One and a lot of resources, man hours and technical know-how have been committed to the project. We intend the deliver the first phase of the WTC Abuja next year. We haven’t relented on our mission of delivering the WTC Abuja to Nigeria in spite of the setbacks and technical challenges we have encountered in the course of construction.
What gives you that conviction?
When you embark on a huge project such as the WTC Abuja, you have to be ready to face challenges and overcome them. For us, we have built a strong team around a product that we are certain will exceed the expectations of our esteemed customers and raise the profile of Abuja and Nigeria amongst other landmark projects around the world.
Who are the target audience?
Our target audiences includes the business community, large corporations, high net-worth individuals and investors who are elusive, well travelled with strong sense of style and understand returns on investments.
Apart from the WTC, what other big project(s) is the Churchgate Group working on?
As I mentioned earlier, the WTC Abuja is being constructed in phases and the phase two of the development is deep into planning. We have already applied for development permits and we will soon be in a position to begin construction. This is expected to kick off in 2016. Phase Two will consist of the hospitality and retail components which will complement Phase One extremely well and bring us one step closer to realizing our vision of building a city within a city. The World Trade Center Abuja is our flagship project at the moment, however, we intend on building similar projects throughout the country. We will always innovate and embark on projects that will continue to redefine the skyline of Nigeria.
As an organisation involved in turnkey projects, what are the challenges it faces in the country?
With any big project, one is bound to come across big challenges. Part of the objective is the delivery of functional projects at agreed time, at acceptable quality and within scope. We faced a few challenges during the construction of Phase One of the World Trade Center Abuja. We have had to constantly reposition ourselves in order meet the ever changing consumer and market needs, etc. I do not feel this is out of the ordinary. When you embark on a huºge project such as WTC Abuja, you have to be ready to face challenges and show that you have the resilience to push forward.
What’s the strength of your workforce? How many expatriates do you have?
We have employed thousands of people, both directly and indirectly. Our workforce consists of more than 50 expatriates and foreign subcontractors at the WTC site; they have been involved right from concept design, to planning, construction and even sales and marketing of the WTC Abuja. However, it is a fact that without the efforts of the entire team, predominantly made up of Nigerians, the World Trade Center Abuja would not be where it is today.
What can be done to improve the skill sets of Nigerian professionals especially in the building and construction work?
No doubt, the construction industry plays a key role in the economy of every country, contributing between 4 to 14 per cent of the Gross Domestic Product of both developing and developed countries. The construction sector also provides the infrastructure that supports other sectors of the economy. I believe that any country that wishes to develop industrially requires a highly developed construction industry. There is currently a severe shortage of skilled construction workers in Nigeria and this has resulted in the employment of semi skilled and unskilled persons on construction sites resulting in low productivity, inefficiency in terms of cost and time, and poor quality of finished products. Appropriate training policies for construction skilled workers must be taken at industry level and must involve all the stakeholders, government, construction firms and the workers themselves. We, at the WTC site, carry out our own form or training in order to ensure that the quality we envisage is ultimately achieved.
How will you rate the ease of doing business in Nigeria?
Nigeria is a country blessed with human, mineral and natural resources. When it comes to doing business in Nigeria; the potential seems so great that many investors or entrepreneurs get tempted to jump in with both feet without first testing the waters. According to 2015 World Bank Report on Doing Business, Nigeria is ranked 170 in the world against 175 last year. Doing business in Nigeria is characterised by both advantages and disadvantages which should not be overlooked.
Is Churchgate Group a wholly-owned Nigerian company?
Churchgate Group is an indigenous conglomerate that has been responsible for some of Nigeria’s most significant architectural advancements to date. It was established in 1968.
Where do you see the company in the next 10 years?
Churchgate has been in Nigeria for almost five decades, during this time, we have been involved in trading, manufacturing, financial services and real estate. At the moment, the World Trade Center Abuja is our flagship project, and we intend on building similar projects throughout the country. We will always innovate and embark on projects that will continue to redefine the skyline of Nigeria.
How socially responsible is Churchgate Group?
Apart from providing jobs to thousands of Nigerians, we continually seek to improve the livelihood of the residents where we have our business through trainings and provision of scholarship schemes. We have also contributed immensely to the environmental development of the community.
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