Mr Farouk Khailann, Chief Executive Officer of Premium Africa Holdings, investment consulting partners to the 14 City Military City Project has emphasized that the 14 Military City Project will boost investor confidence in the Liberian economy.
Speaking to journalists during a visit by the President of Liberia, George Manneh Weah to the project site recently Mr. Khailann emphasized that infrastructure development is a key consideration for evaluating investment attractiveness of a country.
He explained that the project sends a good signal and will deepen the appetite of other investors who are sitting on the fence.
“Construction presents many potential prospects for investment. Any housing project of such scale will have a positive impact on an economy – on macroeconomic growth and job creation, as well as on the potential for financial intermediation”, Mr Khailann said.
He commended the Liberian government for the choice of construction partner. Millennium Construction is a Pan African company with immense experience in housing projects.
He reiterated that Africa can be built by Africans; any investment or expertise that comes outside of Africa can be considered a bonus adding that Africans have to believe in ourselves as a continent and Liberia has set a very good example.
The capital city Monrovia has an estimated population of over 1million people; triple the population for which the city was originally planned. There is growing demand for suitable housing, office buildings, an ultra-modern shopping mall, business centres, and low-to-middle income housing units.
Experts say there is also an appreciable number of customers for high end housing, the 14 Military City Project is well structured to address that need and some believe the project will impact Liberia’s housing delivery value chain and improve the prospects for affordable housing delivery.
At the same time, the housing project provides hope that transcends Liberia’s borders: that mixed-used housing in Liberia is a possibility – a viable investment opportunity.
The 14 Military City project is a new development on 1,800 acres of land along the Robertsfield highway about 15-minute drive to Liberia’s Capital, Monrovia and 20 minute drive from Liberia’s Robertsfield International Airport.
“The project is expected to be Liberia’s most prestigious address, reflecting a contemporary and vibrant city”, Mr. Khailann added.
14 Military City, which is said to be the biggest affordable housing project development in Liberia comprises of a Residential, Business/Commercial and Leisure Boroughs. The residential areas will comprise of 3 different segments: Affordable, Executive and Exclusive Mansons.
The commercial enclave of the city is being purposely built to offer Liberia’s best shopping and business experience with a distinctive and unmatched infrastructure.
The project will also include Schefflin Mall which will host Restaurants, Banks, Insurance companies, Telcos, Airlines, Media, Hotels, Night Clubs and Gas Filling stations etc. The water front developments, which will encompass boat rides, water slides, sports facilities and modern leisure experiences, will be a boost to Liberia’s tourism sector.
Premium Africa Holdings, an Africa focused investment holding company with assets and projects in Ghana, Liberia, Gambia, Sierra Leone, Malawi and UAE. The company operates in the areas of Construction, Real Estate, ICT, Mining, Agribusiness, Energy and Investment consultancy.
