Multipurpose real estate complex kicks off in Accra
Construction work on the West Africa’s largest multi-use real estate project, The Exchange, is underway in Accra.
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The complex is expected to become a focal point in Accra, as it offers a unique combination of attractions, including a retail park, a luxury hotel, residential areas as well as office accommodation.
According to the project managers, the first phase was expected to be ready in 2018.
The multi-purpose complex will operate to international standards with the aim of uplifting Accra’s residential scene, while achieving international leisure and business standards.
Already, the complex has become the first project in Africa to receive the EDGE certification. EDGE honours projects of high environmental awareness that embody consciousness when compared to conventional developments.
The Exchange will achieve a more than 20 per cent reduction in energy and water use.
According to Mabani Holdings Ghana Limited and Actis LLP, the investor-partners of the project, work on the concept was started in 2011 and had since gone through the design stage, with construction underway on the site.
They said over 2,000 jobs would be created during the construction stage, with many more available after completion.
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“The project is set to benefit the Ghanaian economy immensely, with over 90 per cent of the project to be sub-contracted to local companies, which is very important to bring in the value that is expected,” the Chief Executive Officer of the Mabani and Forewin Group, Mr Ghassan Yared, said.
He added that The Exchange was poised to be the city within the city of Accra.
“The Exchange is here for life, for business, for pleasure. It is there to pamper clients and customers,” the partners promised.
It is designed to be a genuine and truly beautiful destination for singles, friends, couples and parents and will cater for all generations — from babies and children to the elderly.
The hotel – Radisson Blu
It will house the Radisson Blu, a 4-Star business hotel which will consist of 206 rooms, several restaurants and a wonderful seating area with an outdoor pool and a bar.
Ms Amanda Jean-Baptiste, the Director of Real Estate at Actis, said: “The Radisson Blu Airport at The Exchange will provide quality modern space for business travellers and will help further establish Ghana as the conference destination of choice in West Africa.”
Philip Salem, a Director at Mabani, noted: “Our partnership with Actis on The Exchange, and now with Rezidor, demonstrates the potential for local and international businesses to come together to deliver world-class infrastructure and services that will underpin Ghana’s future growth.”
President and CEO of Rezidor, Mr Wolfgang M. Neumann, recently stated at the African Hotel Investment Forum in Addis Ababa, Ethiopia, that the hotel’s arrival in Ghana “supports our strategic growth in West Africa – a resource-rich and fast-growing region with considerable potential for our core brand — Radisson Blu.”