GTFCL to put out timeline of scheduled works, activities for site redevelopment

Trade Fair Site11212 Government earmarks US$2 billion for Trade Fair redevelopment project

Mon, 14 Mar 2022 Source: www.ghanaweb.com

Ghana signs MoU with Singapore firm for Trade Fair redevelopment

Trade Fair redevelopment to take 3 to 5 years

Government earmarks US$2 billion for redevelopment project

Management of the Ghana Trade Fair Company Limited (GTFCL) has said it will soon put out a timeline of scheduled works and activities for the redevelopment of the Trade Fair Site in Accra.

This comes after the GTFCL under the Ministry of Trade and Industry signed a Memorandum of Understanding with Singapore-based developer; Stellar Holding Pte. Limited for the redevelopment project.

According to details of the move captured on the Presidency’s website, the first phase of the project, under the MoU, will focus on developing the Convention Centre and Exhibition Halls to hold the World Economic Forum, Africa.

In addition, Phase 2 of the redevelopment project, will look at facilities including luxury hotels, high-end malls and other residential and commercial development.

Under the agreement, Stellar Holding Pte. Limited has been mandated by the Government of Ghana to redevelop the Trade Fair site into a multi-purpose and modern facility.

Back in 2019, the two parties contracted a third-party company to undertake horizontal development of the entire Trade Fair site.

The scope of works will include servicing of land and construction of infrastructure including roads, drainage, relocation and extension of utilities as well as partitioning of the site into varying lots.

Additionally, the agreement will allow for the establishment of a Joint Venture Company to accelerate the development and financing of world-class luxury hotels, high-end malls and other residential and commercial developments as agreed in Phase 2 of the MoU on land spanning some 65 acreages.

Meanwhile, the Government of Ghana has earmarked US$2 billion for the redevelopment of the Ghana International Trade Fair Centre.

The project is anticipated to take about three to five years and is expected to be carried out in phases.

Source: www.ghanaweb.com
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