The Asantehene, Otumfuo Osei Tutu II, on Saturday, cut the sod for the commencement of construction works on the Kumasi City Mall at Asokwa, a suburb of Kumasi.
The USD 110 million dollar Kumasi City Mall, covering an area of 29,000 square metres, is being developed by Delico Kumasi Limited, an affiliate of Delico Property Developments Limited, the company developing Accra’s West Hills Mall which is now less than six months to completion.
The Kumasi City Mall, described by the developers as having the potential of overtaking the West Hills Mall in size, is designed to be rolled out in two phases comprising a retail shopping mall component with two giant anchor tenants – Shoprite and Game and will offer spaces for as many as 60 line shops and restaurants. The development has a possibility of a second phase which, if completed, will deliver a 120-bed ultra modern hotel to the Ashanti capital. The Kumasi City Mall has an approximate total parking bay for 1,250 cars.
”The absence of a commercial complex of this standard in a city like Kumasi has been so glaring over the years and I am so happy that at long last our city is about to get its own world class Mall to promote business, commerce and recreation among our people,” Otumfuo declared minutes before he shoveled up earth to signal the start of construction work on the 15.43 acre land acquired for the Ashanti regional capital’s first modern shopping complex.
The Asantehene categorically reminded his Chiefs and people that all lands are vested in the Asanteman stool and that he would personally do everything to ensure that the lease of lands for productive good and economically viable development projects would always supersede the sale of lands by chiefs for any other purposes.
About the Kumasi City Mall told the large gathering of Chiefs, public officials and dignitaries that:
‘Whenever I traveled to South Africa, I impressed upon my own ‘grandson’, Kofi (i.e. Mr. Kofi Sekyere, Director of Delico Kumasi Limited, who is a native of Kumasi) and his partners in Delico to seriously consider the prospect of investing in a world class mall for our city’.
The developer, Delico Kumasi Limited is a subsidiary of Delico Property Developments Limited, Mauritius, which is itself jointly owned by Nasek Investments Limited, a company wholly owned by Ghanaians, and Atterbury Africa Limited, the investment vehicle into Africa for Atterbury Investment Holding Limited and Hyprop Investment Limited – both highly respected South African property investment companies.
With the sod-cutting for Kumasi City Mall, the key projects in Delico’s development portfolio in Ghana now total three, including the highly anticipated West Hills Mall and a 14,000 square metre Achimota Shopping Centre in Achimota, Accra. Atterbury, together with its investment partners, are the majority shareholders of the Accra Mall.
”It is long overdue for a city like Kumasi to have an address which caters for business, shopping and recreation, all under a massive and secured roof and the arrival of Kumasi City Mall at this time will respond squarely to this demand,” said Mr. Kofi Sekyere, Director of Delico Kumasi. He said the mall will be completed in July 2016.
Thanking the Asantehene for his personal interventions in the processes of land acquisition and other licensing protocols, Mr. Sekyere said, ”In 24 months, this site where we are today will be completely transformed into a grade-A retail facility and it is our fervent hope that the city of Kumasi and the good people of Asanteman will give meaning to this bold investment initiative by participating actively in the very necessary areas of tenancy and patronage to ensure the success of the mall.”
Both the Ashanti Regional Minister, Hon. Mr. Samuel Sarpong and the Mayor of Kumasi, Hon Kojo Bonsu were full of praise for the Asantehene for his consistent role as a catalyst for development projects in the region and they respectively commended Delico for making Kumasi a preferred choice for a mall of this magnitude.
”Today, we are not just breaking the ground for a commercial mall. We are building a solid and sustainable foundation for progress in industry in the years ahead…You are building not just a business palace but a better future for Kumasi, the Ashanti Region and Ghana as a whole,” Mr. Sarpong added.
The ceremony attracted the High Commissioner of South Africa to Ghana, Her Excellency Jeanette Ndhlovu, Ghana’s Acting High Commissioner to South Africa, Her Excellency Martha Pobee and top executives of Delico and Atterbury from Ghana and South Africa.
By: Evans Effah/citifmonline.com/Ghana