Abuja, Nigeria – March 1, 2017 – The Green Certified Shopping Plaza was built in 2008, and the first plaza to design an all green Plaza with Led Lights, Double Tinted windows, Low power consumption and HVAC System with a gross floor area of 226,000 Square feet (two hundred Twenty-six thousand square feet) on eleven above-ground floors and three floors of Car space in the basement.
Solution Plaza is one of Nigeria landmark office buildings located in one of the most fastest developing and secure districts of Abuja. according to the statement.
Isaac Udotong said, “Abuja – Nigeria’s capital city – has a growing population of 2.2 million working for large corporations such as NNPC, Central Bank of Nigeria, bring in strong demand and only 25,000 Sq.m expected to be delivered for this entire year. It is very difficult for companies like NNPC, Central Bank of Nigeria, Total, and the Federal Government to even put a down deposit for a 5 year lease and still not secure one because of the scarcity. Nigeria has no restrictions on FDI in in the real estate sector making it free for us to redistribute back to our Limited Partners hassle and streamline, As Private Equity Firm we need be able to easily allocate our funds across different regions within our portfolio companies.”
Udotong also stated, “Rentals for prime office space in Abuja, Nigeria are 15% higher than properties in Midtown Manhattan, making Nigeria the most expensive properties in the world, and the demand just can not keep up with the limited supply available.”
ABOUT PETRON GROUP
THE PETRON GROUP is a global private equity firm that invests in private equity, debt, infrastructure, and renewable resources globally. The firm manages a broad range of investment programs for institutional investors such as family offices, endowments, pensions, funds of funds, ultra high net worth investors, and large companies who want direct exposure to private markets assets.
Petron Group is headquartered in Harrisburg, Pa., and has been one of the leading providers of institutional capital for the global energy industry. The firm’s deep sector expertise and internal technical capabilities allow Petron Group to engineer creative solutions for any complex situations.
The firm was founded by Isaac Udotong, our Managing Partner, who accumulated Millions during the African IT Boom when he founded Isatong Inc. in 1980. Isatong later acquired Petron Energy LLC from PEPCO Holdings Inc NYSE: (POM) in 2010.
In 2015 Petron Group opened the doors in the Harrisburg Office with a team of six professionals, and an investment from the Udotong Family. As of February 2017, Petron Group is a Private Equity firm with top industry talents managing more than $2.2 Billion in assets, with 5 Regional offices worldwide.