Appolonia City has opened its first commercial building; the Adumuah Place.
Developed by Gateway Real Estate Africa (GREA), the internationally designed A-grade commercial office building is strategically located at the entrance to the new city, within close commute to key areas across Greater Accra.
The building is expected to be ready for occupation by mid-2022.
Adumuah Place offers approximately, 2000m2 of prime office space and 85 secured open parking bays and boasts Appolonia Development Company Limited as anchor tenant.
Offices range from 116m2 to 661m2 depending on tenant requirements.
In addition to attracting other corporate tenants, the developer is envisaging a retail component comprising pharmacies, convenience shops, financial institutions, restaurants, and beauty salons on the ground floor of the development.
All of this is aimed at pulling people away from the congestion of the Central Business District.
“Adumuah Place is named in honour of Nii Tei Adumuah II, who ruled Appolonia for 40 years and was a visionary leader of the Appolonia community, our partner in Appolonia City,” the Chief Executive Officer of Appolonia City, Bright Owusu-Amofah explained.
“We are certain Adumuah Place will live up to Nii Tei Adumuah Il’s legacy.”
The Minister for Works and Housing, Francis Asenso-Boakye, at the event, advocated for reforms in the current laws governing rent in the country.
He insists the current Rent Act is outdated and needs to be revised to fit the current rent market and demands.
”The Rent Act, 1963 (Act 220) (as amended) was passed by Parliament 59 years ago and therefore, its relevance has been outlived by rapid urbanization and population growth, as well as other attendant difficulties that have engulfed the housing sector. It has therefore become necessary to reform the existing legislation and remove inherent constraints on housing supply.”
“Government intends to implement a National Rental Assistance Scheme to, among other things, address the market imbalances in the rental housing market, provide assistance to streamline processes for accessing rental accommodation for lower income households, while leveraging such assistance towards the improvement of the quality of rental accommodation.”
The Minister further noted that processes have begun to set up a Ghana Housing Authority to lead the supply side of the housing market.
“My Ministry is presently focused, among other things, on the Review and enactment of legislations and addressing the institutional gaps, to create the appropriate platform for best practices within the industry. For this reason, the Ministry of Works and Housing, has initiated the process to establish the Ghana Housing Authority which will have the mandate to regulate, plan and manage housing developments in Ghana, in collaboration with private developers.”
Appolonia City is a 2,325-acre (941-hectare) inclusive mixed-use new city in Greater Accra which provides a seamless live-play-work community, by offering homes, offices, shopping, schools,
healthcare, and ample parks and open spaces.
Adumuah Place at Appolonia City is the latest in a strategic partnership between GREA and the City’s developer, Rendeavour, which spans commercial, warehousing and logistics developments at Rendeavour’s new cities in East and West Africa.
