Business News of 2014-05-13

Asantehene cuts sod for construction of houses

The Asantehene, Otumfuo Osei Tutu II, has cut the sod for the construction of the first ever gated community of 500 residential units at Prabon, near Kumasi.

Known as the Prabon Greenfield Projects, it is being executed by Golden Kingdom Vital, a joint-venture between Asanteman and Vital Capital of Israel.

Manhyia in housing market

Addressing the gathering before cutting the sword, Otumfuo Osei Tutu noted that he was aware that there had been a lot of efforts at addressing the housing problems facing the country but wondered whether the new housing being developed met the standard required for all round healthy living in the 21st century

He said it was in the face of those challenges that Manhyia decided to enter the housing market, not to build individual estates, but to create whole new communities by providing an example of better standards of living going into the next century.

He expressed the hope that the new sub-urban community would set an example of the kind of habitat which the country needed in the years ahead.

“We cannot be true to ourselves if we failed to acknowledge the appalling levels to which our cities and towns are falling in the mad rush to promote urbanisation without the scantiest regard to planning”.

Open fields

Otumfuo expressed surprise that with the spread of education and wide experience people had gained, Ghanaians refuse to appreciate the fact that the people needed open fields if they were to prevent the lifestyle diseases.

“Any wonder then that lifestyles diseases such as diabetes, high blood pressure, heart diseases and stress are assuming near crisis levels in our country”, Otumfuo added.

He added that the threat of gradual degradation and destruction of the environment through wonton mining activities must be tackled head on to protect the heritage received from their ancestors.

The Israeli Ambassador to Ghana, Ms Sharon BAR-li, noted that the Israeli government was of the opinion that the people of Ghana needed investment.

According to him, investment yielded better benefits and also unearthed the best in the people.

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