Business News of 2014-03-06

Airport Square project creates jobs for 320 people

Over 320 welders, masons, steel benders and other construction workers have been employed to work on the ‘One Airport Square’ project, within the Airport City in Accra.

The project is an office and retail building being constructed by Laurus Development Partners.

Construction of the apartment, which started some 20 months ago, has progressed steadily and is now expected to be completed by April this year.

When completed, the building will serve as offices, retail shops and parking lots for corporate institutions wishing to pitch camp in the fast-growing Airport City area.

The structure comprises 1,500 centimetres square (cm2) of retail, 17,000 cm2 of offices and 270 car parking spaces and is touted as the first green commercial building in the country.

"By using natural light and ventilation, One Airport Square will consume 30 to 40 per cent less energy and bring operating maintenance cost lower than other similar buildings," the Chief Executive Officer of Laurus Development Partners, Mr Carlo Matta, told the Daily Graphic.

"We also plan harvesting rain water for use and that will reduce the building's load on the national water grid," he added.

He was speaking to the paper after a special event organised by management of the company to appreciate the efforts of the construction workers in ensuring that the structure progressed steadily.

The event coincided with the Topping Out ceremony, a special occasion in construction industry often held after the last roof concrete slab was laid at the top of the building.

The last roof concrete slab on the One Airport Square was laid last week, according to Mr Matta, and that paved the way for the Topping Out ceremony.

The event was characterised by music and dancing by the various staff after a brief thank you speech by the CEO.

As part of initiatives by Laurus Development Partners to give the building a unique outlook while appreciating the efforts of the local staff, the national flag was hoisted at the top of the building and will remain there even after the structure is completed and ready for use by interested businesses.

Mr Matta later told the paper that about US$62 million had been invested in the building, out of which some US$30??? was raised from Stanbic Bank Ghana Limited.

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