Construction work on the West Africa’s largest multi-use real estate project, The Exchange, is underway in Accra.

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.

“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.”

Source;  Daily Graphic – 10th October, 2016


By Kwame Asare Boadu

President John Dramani Mahama last Tuesday toured the Saglemi Affordable Housing Estate project and expressed satisfaction over the housing projects being undertaken across the country under the government.

“Ghana is progressing,” he said, after inspecting the first phase of the affordable housing project at Saglemi, near Prampram, which is nearing completion.

“Seeing is believing. I am saying this because there are some people who see but refuse to see,” the President added.

The tour was part of activities marking the first day of his four-day “Accounting to the People” tour of the Greater Accra Region.

President Mahama said some people had described the buildings as photoshop and added,  “After this visit, I don’t know what else… maybe we photoshopped the buildings behind me as I stand here.”

He expressed regret that in spite of the progress being made, opponents of his administration were not ready to see anything good about the government.

Real projects

President Mahama stated that what stood at Saglemi was a real project and threw a challenge to those who claimed the government was doing photoshop to go to the site to see things for themselves.

“If they like, I can organise an excursion for them to come and see what is happening here,” he said to cheers from the gathering which included chiefs, the people of Ningo Prampram and workers at the site.

The Saglemi project is being undertaken by Construtora OAS Ghana Limited, a Brazilian construction firm, in collaboration with the government of Ghana.

The first phase is made up of 1,500 housing units. The entire project would comprise 5,000 housing units.

It also has recreational centres, commercial facilities, roads and other infrastructural facilities.

Ghana has a housing deficit of 1.7 million and the government has been seekings avenues, including partnership with the private sector, to address the challenge.


President Mahama said the contractors were working to make the cost of the housing units affordable to many people.

“This is going to be a unique estate, a modern estate, ” he said, and encouraged the people of Ningo Prampram to acquire some.

Other  projects

President Mahama said other housing projects, including the Nyame Dua Estates at Kpone, were in line with the government’s quest to ensure affordable accommodation for the people.

He said the government was also working to complete the affordable housing project started by the Kufuor government.

Outside housing, the President said a new 2,000-acre free zones enclave was being developed near the Saglemi Housing Estate and expressed the hope that many companies would establish in the enclave to create jobs for the youth.

Earlier, the President had interacted with the fisherfolk, artisans and market women at Anyamam in the Ada West District, during which he enumerated the development projects the government had undertaken in the district.

They included the construction of a district assembly hall and adjoining offices at Sege, two Community-based Health Planning and Services (CHPS) compounds at Caesarkope and Afiadenyigba, school projects in a number of communities, among others.

The President also visited the Tema ICT Park.