From Citi FM Online

Korea & Ghana Development Firm (KO&G) has cut the sod for the construction of 297 luxurious apartments costing $200 million, a move seen as game changer to bridge the country’s housing deficit of 1.7 million.

The multi-million- dollar Skyville project is expected to create more than 1,000 direct and indirect jobs over the construction period of 30 months and offer more than 300 post construction employment avenues.

“The take-off of the 297 multipurpose apartment project will serve as residential homes with facilities including exclusive branded shops, restaurant, cafeteria, fitness centre, swimming pool, and a state of the art Kassardian office complex,” Mr Jojo Dines Clint, Chief Executive Officer of KO&G said.

He said the Skyville team has addressed all issues relating to engineering and technical questions, viability, legal and bankability of the project in current economic circumstances, future of the high end housing market in a fledgling middle income economy like Ghana.

“I am glad to say being able to find answers to these questions has strengthened our resolve as a team to bring this quite ambitious project to fruition,” he said.

He said the Ghanaian market is young and needs time to mature but that would come along with steady economic growth with proper regulatory regimes to protect developers, investors, buyers and stakeholders in the industry.

Read more at Citi FM Online