Appolonia City Explores Special Economic Zone

The CEO of estate development company Appolonia City says they are in a discussion with government to be granted Special Economic Zone (SEZ) status.

Bright Owusu-Amofah believes this will assist in growing the real estate sector hence growing key parts of the Greater Accra region.

He said this Tuesday after President Akufo-Addo led a 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 Applonia Business Park will attract more firms in sectors such as manufacturing, processing, logistics among others.

“With the endorsement we have received from Ghanaians moving here, we are certain that the Park and Appolonia City as a whole will be a success and a thriving community for all sectors of society will be developed,” he observed.

Regarding governments efforts at developing and providing a key infrastructural improvement to facilitate the growth of the business throughout the country, Mr Owusu-Amofah pleaded that the Adenta-Dodowa road is expanded.

According to him, the expansion will be of a great economic driver for the area and facilitate greater ease for transportation of Goods from Tema to the axis of Greater Accra and into the rest of the country.

He thanked their partners, Ghana Home Loans (GHL) for their continued efforts in spearheading home finance in the country.

Mr Owusu-Amofah believes GHL is helping citizens and non-citizens in a great regard to getting access to housing adding their partnership makes it possible to provide quality accessible housing to all.

President Akufo-Addo has reiterated his promise to be the national cheerleader of the private sector and urges all Ghanaians to do all they can to provide an enabling environment for businesses.

“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 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 a partnership between Ghana Home Loans, the country’s leading mortgage finance provider, and Appolonia City, Greater Accra’s new city.

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.

Story by Ghana| Myjoyonline.com |Abubakar Ibrahim