EBID Sign $20m Deal To Co-Finance Kumasi Garden City Mall Project

The signing of the agreement paves way for the construction of the Kumasi Garden City Mall Project.
The signing of the agreement paves way for the construction of the Kumasi Garden City Mall Project.

Promoters of Accra Mall in partnership with the Methodist Church and the Asanteman Council, have launched the construction of a modern shopping mall, hotel and entertainment center at the Suame roundabout in Kumasi.

According to Mr. Alex Bruk, the Chief Executive Officer of the project “ the traditional market hub of Kumasi is about to be transformed with a multiplicity of shops, restaurants water park, hotel , offices and cinema in one scenic location.

He said it will be an outlet of convenience and entertainment for the whole family and for the 500,000 people who pass through Kumasi every day.

The project, which will cost about $130 million, will be constructed in two phases.

The first phase of the project comprising of a 21,000 square meter shopping mall, cinema and water park, will open in December 2016, just in time for Christmas.

The mall will feature shops like shoprite and other international and local shops as well as a cinema.

Construction started four months ago with the earthworks being awarded to Consar limited a local contractor, which has also been awarded the building contract.

The construction phase will create about 1,000 jobs for Consar and his sub-contractors whilst the mall itself will employ about 1,200 workers when it opens next year Christmas.

The ground-breaking ceremony was proceeded by a loan signing agreement at the Golden Tulip Hotel between the Garden City Mall and the financiers of the project, Ecowas Bank for Investment and Development (EIBID).

The President of the Ecowas Bank, Mr.Bashir Mamman IFO, who was accompanied by his Vice –president, Finance and corporate serviceS, Dr George Agyekum Nana Donkor, underscored the importance of the project, especially outside of Accra to help boost tourism and socio-economic development.

He further said, “his bank is proud to be a sponsor of the project in partnership with DEG (the German Development Bank)”.

The sod cutting ceremony symbolizing the official commissioning of the project was conducted by the Most Rev. Emanuel .Asante, presiding Bishop of the Methodist Church of Ghana who was assisted by Nana Boakye Asnsah Debrah, Asokore Manpong Hene, who is also the Nifahene of Otumfuo Osei tutu II, the Asantehene.

The event was also attended by a number of dignitaries including the Mayor of Kumasi, Hon. Kojo Bonsu.

By: Isaac Bediako/ghnewsnow.com/Ghana



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