Business News of 2014-06-07

US$110m Kumasi City shopping Mall to be ready 2016

Kumasi will be home to a US$110 million shopping mall which would occupy an area of 29,000 square meters, and house a number of local and international shops.
The Kumasi City Mall project is set to be opened in 2016, 24 months from the date of commencement of construction.
This was announced at the sod cutting ceremony held on Friday in the Ashanti Regional capital, Kumasi.
The Mall is a joint project between Delico Kumasi Limited, a subsidiary of Delico Property Developments -Mauritius and Atterbury Investment Ltd, South Africa.
It is being constructed at the Asokwa industrial area on the lake road.
The Director of Delico, Kofi Sekyere, addressing the sod cutting ceremony on Friday said the multimillion dollar Mall project will contribute to the growth and development of the local economy in the Ashanti Region, as well as the national economy.
He said, “the project will cover 15.4 acres and the project will be in two phases with a retail mall component which should be 29000 square meters. It will be west Africa’s biggest shopping center.”
He added, “it is long overdue for Kumasi to have an address which caters for business, shopping and recreation all under one massive roof, and the arrival of this shopping mall in Kumasi will respond squarely to this demand,”
On his part, the Asantehene, Otumfuor Osei Tutu II, speaking through his linguist welcomed the project into Asanteman and Ghana. The Otumfuor commended Delico for the investment and called for more such investments in the Region.