Luri river waterfront project in Juba lures investors

By Julius N. Uma

November 25, 2010 (JUBA) – A new mixed use waterfront property development investment has officially been launched in Juba, the South Sudan capital by Luri River Development Company (LRDC).

Luri river waterfront described itself as an innovative property development that will feature a mixed use port, industrial area as well as commercial, retail and residential offerings.

While speaking during its official launch, Tim Carson, one the project’s shareholders said the new initiative will give residents an opportunity to live, work and play within a “fully serviced, safe, secure and spacious” environment on the Nile River, close to Juba airport.

“This is the first development of this nature in Southern Sudan. It has been conventionalized to meet the business and residential needs at the Sudanese market,” Carson told about hundred people who attended the launch at Da Vinci hotel.

He added, “International investors will also be able to invest in properties and acquire a pied a terre or investment property in Africa’s fastest growing city [Juba]”.

The waterfront initiative, further noted Carson, provides an opportunity for investors to invest in Sudan’s future and participate in the upside of East Africa’s booming real estate market.

Elia Lomuro, the political affairs advisor to President Salva Kiir Mayardit said the newly developed Luri river project was in-line with government’s policy to promote sustainable development through long term investments.

“The idea of starting this unique waterfront project will send a clear indication to people outside that indeed Sudan is not a failed state as many would want to believe. The government of Southern Sudan is truly committed toward improving the standards of living for its citizens,” Lomuro said.

The senior presidential aide also urged government officials to strive towards acquiring and owning properties initiated by the Luri river waterfront company, saying it may be more cost effective in the long-run.

A privately owned property development company made up of Sudanese and international shareholders, LRDC, in collaboration with the local community recently acquired 100 acres of pristine land on the outskirts of Juba, where Luri river waterfront will reportedly be developed.

Meanwhile, the company leased the waterfront development plot from Luri river community of the Bari north payam, for a 33-year period, starting from April 2009.

“The community of Northern Bari Payam of Luri River had agreed with the Luri River Development Limited to lease a land of forty (40) acres to be used for the development projects which may include depots, cargo storage, and port facilities, cargo handling, hotels, office parks, mixed residential and other facilities needed in Southern Sudan,” the November 18, 2009 lease agreement, signed Dr. Pius Vincent Subek, the Juba County Commissioner partly reads.

Juba may be the capital of an independent south Sudan by July should the region vote to secede from the north in a referendum in January

.(ST)