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Heaven Builders Ltd had GHS5,000 stated capital, one staff, but GACL sees it fit to give them prime airport lands in excess of $150m – Ablakwa

Headlines Heaven Builders Ltd had GHS5,000 stated capital, one staff, but GACL sees it fit to give them prime airport lands in excess of 150m – Ablakwa
OCT 5, 2023 LISTEN

Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, is back again with what he describes as part two of his expose’ on the Heaven Scandal.

In this edition posted on Facebook, the MP disclosed that Heaven Builders was acquired and taken over by its current directors on April 17, 2018.

Strangely, he said the stated capital for Heaven Builders Limited which has been made an offer and allocation of prime Airport lands valued in excess of US$150million is a paltry GHS5,000.00 (Five Thousand Ghana Cedis).

He revealed that from the incorporation documents, Heaven Builders Limited indicates that it envisages to have only one (1) employee.

With one employee, a stated capital of a measly GHS5,000 and absolutely no track record Mr Ablakwa is wondering why President Akufo-Addo, Vice President Bawumia, Finance Minister Ken Ofori-Atta and their collaborators at the Ghana Airports Company Limited (GACL) believe Heaven Builders have the best capacity to be Anchor Developers and new owners of 62 acres of prime Airport land.

For better appreciation, he painted the picture that the 93-acre prime land in issue is bounded on the west by the Airport By-pass road, on the south by the Airport road, on the north by a rail line, and east by the terminals 1 and 2 tarmac.

Some prominent businesses and celebrated brands in the immediate vicinity of the giveaway prime land to Heaven Builders include Marriott Hotel, Holiday Inn, Accra Mall, Marina Mall, Head Offices of Stanbic, Vodafone and Nestle.

Below are details of Ablakwa’s full post:

Since the publication of Part 1 of The Heaven Scandal and my subsequent engagement on X Spaces, many have been asking: “Who are behind Heaven Builders Limited?”

In the true spirit of transparency, accountability and parliamentary oversight — there shall be full disclosure. I have secured the incorporation documents of Heaven Builders Limited. Those are the first set of attachments to this edition.

It is instructive to note that Heaven Builders was acquired and taken over by its current directors on April 17, 2018.

Strangely, the stated capital for Heaven Builders Limited which has been made an offer and allocation of prime Airport lands valued in excess of US$150million is a paltry GHS5,000.00 (Five Thousand Ghana Cedis).

From the incorporation documents, Heaven Builders Limited indicates that it envisages to have only one (1) employee.

With one employee, a stated capital of a measly GHS5,000 and absolutely no track record — President Akufo-Addo, Vice President Bawumia, Finance Minister Ken Ofori Atta and their collaborators at the Ghana Airports Company Limited (GACL) believe Heaven Builders have the best capacity to be Anchor Developers and new owners of 62 acres of prime Airport land.

For the avoidance of doubt, and for better appreciation, the 93-acre prime land in issue is bounded on the west by the Airport By-pass road, on the south by the Airport road, on the north by a rail line, and east by the terminals 1 and 2 tarmac.

Some prominent businesses and celebrated brands in the immediate vicinity of the giveaway prime land to Heaven Builders include Marriott Hotel, Holiday Inn, Accra Mall, Marina Mall, Head Offices of Stanbic, Vodafone and Nestle.

There is more bombshell: deep throat unimpeachable sources within the Akufo-Addo/Bawumia administration have revealed to me that the same “lootocratic” brigands who were behind the infamous Frontiers COVID-19 Airport testing heist are the same promoters of this unconscionable Airport land grab.

The unholy Frontiers-Heaven Builders connection cannot be dismissed as mere conspiracy theory when a careful study of the incorporation documents of both companies reveal that both companies have the same witness in the person of Edward Charles Appiah with the same address. (Frontiers incorporation document is duly attached).

I shall return to other modus operandi of this same Ghana/Nigeria “lootocratic” picaroons in later publications.

I can also confirm today that two reputable independent professional entities have delivered reasoned professional assessments of the Heaven Builders deal to the GACL. They have both vehemently disagreed with the counteroffer of Heaven Builders wherein they demand 62 acres.

The two independent professional entities are Brightwater Property Investment Limited and the renowned Ghana Institution of Surveyors.

Brightwater’s assessment was delivered on July 25, 2023 and signed by its Director, Osafo Gyimah.

The Ghana Institution of Surveyors damning assessment was delivered to the GACL on 24th July, 2023 and co-signed by Surv. Dr. Frank Gyamfi-Yeboah, FGhIS (for Pacific Real Estate Advisors) and Surv. Yaw Osei-Wusu Peprah, MRICS, MGhIS (for Assenta Property Consulting).

It is instructive to note that both professional bodies indicated that even if the deal should go ahead — remember their mandate was to carry out valuation and not to undertake due diligence of Heaven Builders or review the appropriateness of the overarching policy — they however assert that the valuation of Heaven Builders was terribly low, and that they didn’t deserve anything beyond 40 acres — that is even if they could really raise US$85million.

I have duly attached relevant extracts of both valuation opinions.

Interestingly, whereas Heaven Builders was claiming an acre should be valued at an average US$1.3million, the Ghana Institution of Surveyors report contains real purchases within that vicinity far in excess including a 1.75 acre which sold at US$6.3million as far back as 2019. (Report attached).

I commend Brightwater Property Investment Limited and the Ghana Institution of Surveyors for their patriotic and professional service.

They have done their part; now let us all rise and stop this grand looting of prime lands.

The NDC caucus in Parliament stands ready to totally scuttle this corrupt land grab in the next few days when the House resumes.

Ghana must remain a democracy not a lootocracy.

This is not a deal from Heaven, it has every trait of a deal from Satan’s Hell.

For God and Country.
Ghana First
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