Korea & Ghana Development Firm (KO&G) has cut the sod for the construction of 297 luxurious apartments costing $200 million, a move seen as game changer to bridge the country’s housing deficit of 1.7 million.
The multi-million- dollar Skyville project is expected to create more than 1,000 direct and indirect jobs over the construction period of 30 months and offer more than 300 post construction employment avenues.
“The take-off of the 297 multipurpose apartment project will serve as residential homes with facilities including exclusive branded shops, restaurant, cafeteria, fitness centre, swimming pool, and a state of the art Kassardian office complex,” Mr Jojo Dines Clint, Chief Executive Officer of KO&G said.
He said the Skyville team has addressed all issues relating to engineering and technical questions, viability, legal and bankability of the project in current economic circumstances, future of the high end housing market in a fledgling middle income economy like Ghana.
“I am glad to say being able to find answers to these questions has strengthened our resolve as a team to bring this quite ambitious project to fruition,” he said.
He said the Ghanaian market is young and needs time to mature but that would come along with steady economic growth with proper regulatory regimes to protect developers, investors, buyers and stakeholders in the industry.
“However, there are huge potential and opportunities for the industry and I will personally encourage investors not to be weary because there is a saying that; you don’t wait and buy real estate but you buy and wait,” he said.
Mr. Clint said the Skyville, a premium luxury brand of KO&G Company, has come to stay with a purpose to change the game of luxury apartment brand in Accra, which care is about exquisite, sophisticated interior and green environment.
The company said it places more emphasis on security and technology that makes life easy, secured and comfortable for homeowners and residents.
“With our home network system you can watch and monitor your children play at the children’s playground at the comfort of your living room and your smart phone can easily switch on your air condition from the ground floor before you get into your apartment,” he explained.
The lead consultant for the project is Tekton Consult while Shinku Constructions Company is the construction firm. KO&G is an establishment with the core aim of providing luxurious but quality, unique, and affordable infrastructure for prospective investors and home owners alike.
The Skyville is located at the old Shangri-La Hotel near Kotoka International Airport, where the company has pulled down the old structure with officials pledging civil works, excavation and ground infrastructure to be completed in the next three weeks.
Source: myjoyonline