ACCRA, Ghana, November 14, 2017 /PRNewswire/ --
His Excellency President Nana Akufo-Addo led the ceremonial
ground-breaking of the first phase of a 2,000-unit affordable
housing project financed by Ghana Home Loans at Appolonia City,
Accra's new city development.
The multi-million dollar pilot project on six acres of land at
Appolonia City will hold a community of 100 semi-detached, detached
and terraced units.
Due for completion within 18 months, the development is the
first phase in a partnership between Ghana Home Loans, the
country's leading mortgage finance provider, and Appolonia City,
Greater Accra's new city.
"Appolonia City is a laudable initiative and I want to encourage
others to emulate. I'm happy to note that the Appolonia community
is a shareholder in the project." said President Akufo-Addo. "The
Government I lead is a national cheer leader of the private sector
and we should do all we can to provide an enabling
environment."
The partnership brings together Ghana Home Loans, which is
backed by the Abraaj Group, local promoters, with the
International Finance Corporation (IFC) and, the Overseas
Private Investment Corporation (OPIC), and Rendeavour, the
developer of Appolonia City, which is a unique partnership between
the Chiefs, elders and community of the Appolonia stool.
"Appolonia City has a vision to provide superior urban
infrastructure, housing and places of work for the people of
Ghana," said Stephen Jennings, Founder and CEO of Rendeavour.
"This housing project is a major part of fulfilling that
vision."
The project will benefit from Appolonia City's high-quality
infrastructure, including tarred roads, ICT networking and
integrated safety and security systems, as well as social
infrastructure, such as schools, clinics, open green space and
shops.
Ghana Home Loans will provide flexible financing solutions to
enable Ghanaians to acquire their dream homes.
The event was attended by dignitaries from government, the
diplomatic corps and key stakeholders from the Ghanaian private
sector.
"I want to congratulate Rendeavour for its dedication in making
the Appolonia City development a reality," said U.S. Ambassador to
Ghana Robert Jackson, speaking at the event. "As Ambassador, one of
my priorities is to deepen our commercial engagement in ways that
benefit both Ghanaians and Americans. This project does just that.
It is an investment in Ghana's
future."
Media
Contact:
Tim Beighton
Head of Marketing & Communications
+234-807-099-2935
tbeighton@rendeavour.com
SOURCE Appolonia City