GHANA – Gateway Real Estate Africa (GREA), a private real estate development company, has announced that it will build its first commercial office building in Ghana at Appolonia City, which is an inclusive mixed-use new city 20 km from the centre of the capital Accra.
The Grade A commercial complex will offer corporate office and retail space. With an anticipated completion in 2022, the four-storey building will benefit from Appolonia City’s existing world-class infrastructure, such as roads, power, water, waste management and information and communication technology.
US$4 million will be invested to complete the first phase of this project.
With an anticipated completion in 2022, the 4-storey building will benefit from Appolonia City’s existing world-class infrastructure, such as roads, power, water, waste management and ICT.
“Like all our real estate solutions across Africa, Appolonia City’s office building will have quality leases and strong counterparties, starting with Appolonia City itself,” commented Andre Janari, GREA Chief Investment Officer.
Appolonia City is a 2,325-acre master-planned new city in Greater Accra. Designed and delivered by Rendeavour, Africa’s largest city developer, Appolonia City is designed to cater for integrated living. With more than 700 homes completed or under construction, Appolonia City is rapidly becoming the destination of choice for companies and individuals moving away from Accra’s heavy traffic for a healthy, congestion free environment.
“We already have high demand for office and retail space from companies and individuals wishing to enjoy our Live, Work, Play environment, with offices, homes, schools and shops all within walking distance,” Appolonia City CEO Bright Owusu-Amofah said.
The construction of GREA’s commercial office building will support Accra’s economy, thanks to GREA’s synergies with Ghanaian professionals such as construction specialists, highly qualified engineers and construction workers.
“Gateway Real Estate Africa’s investment in Appolonia City’s first office building is a demonstration of GREA and Grit’s vision for superior quality real estate in Africa and setting a benchmark for international investment in Ghana,” Sir Samuel said.
GREA is affiliated with Grit Real Estate Investment Group (Grit), the largest pan-African real estate income group. Sir Samuel Jonah, one of Africa’s and Ghana’s leading businessmen, is a member of the Grit board.
