Location: Juba, Central Equatoria
Developer: UAP Properties Limited (UAPL)
Cost: $16.9 millions
(ST)The International Finance Corporation (IFC) of the World Bank Group is set to make its first investment in South Sudan by providing a financing package of $5m to support the development of a $16.9m commercial building in Juba.
The structure, dubbed The Equatoria tower is a development of UAP Properties Limited (UAPL), a newly created South Sudan real estate company. UAPL is a joint venture company created between UAP Insurance South Sudan Limited with a shareholding of 70 percent, and Central Equatoria Investment Company (CEIC) with 30 percent.
If completed, The Equatoria Tower will reportedly be the first modern serviced building of any kind in South Sudan, offering reliable amenities like water, power, sewage disposal, three high speed elevators, ready to use Information Communication Technology (ICT) installations and air conditioning.
The commercial facility is being positioned as a platform for the development of quality business infrastructure in South Sudan by supporting UAP Group’s growth in Sub Saharan Africa, earmarked to create about 100 direct and indirect jobs.
Since it attained independence in July last year, South Sudan has with the support of the World Bank Group (IFC) put in place 19 laws, which directly impact on doing business in the country. Fully incorporated with international benchmarks, these set of laws reportedly establish a robust commercial legal environment that enhance business and investment opportunities in the country.