Actis, a leading private equity investor, and Laurus Development Partners have commenced a US$60million ‘One Airport Square’ multi-storey project in Accra.
The project, expected to be completed in May 2013, will be designed to become the number-one corporate address and the most environmentally-friendly complex of its kind in the country. The One Airport Square will house retail facilities, restaurants, bars and a landscaped plaza on the parking floor, office space above and parking in the basement.
The approximately 17,000 sq/m area was designed by internationally acclaimed Italian Architect Mario Cucinella, incorporating a very strong eco-friendly focus. It will also bring along shops, services and jobs to the local community, boosting the supply chain both locally and nationally.
Hannah Tetteh, Minister for Trade and Industry, said the beautifully designed, environmentally-friendly building sets the standard for future developments in the country, and shows the world what the country can achieve. “Government will support investors who can showcase the country internationally,” she said.
Mr. Alban Bagbin, Minister of Water Resources, Works and Housing, said the project has come at an opportune time when the nation is grappling with a number of challenges in the construction industry.
He said government is committed to contributing towards the attainment of a sustainable environment, adding construction of energy-efficient and environment-friendly buildings like the One Airport Square project are therefore highly commendable.
David Morley, Head of Real Estate at Actis said: “We are excited to break ground on a building which, when it is complete, could hold its own in Munich or Singapore. It will enable Ghanaians to work and relax in the heart of the city and follow in the footsteps of Accra Mall which Actis developed in 2006.”
The One Airport Square will be developed by a team of international and local experts in design, project-management, construction, and leasing, said Carlo Matta, CEO at Laurus.
“One Airport Square is a great example of how mixing Ghanaian expertise and international best practices can achieve outstanding results. We hope this project will set a new standard in the Country's real-estate industry,” Matta added.
Source: B&FT
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