THE Akyempemhene, Oheneba Adusei Poku, has broken grounds for construction work to begin on a $3.5 million 18 apartments at the Ridge residential area in Kumasi.
The project which is being undertaken by Soroma Capital and expected to be completed by December 2011, aims at reducing accommodation problems among the working class, enhancing the beauty of Kumasi and boosting the tourist attractions in the metropolis.
About 40 people have so far been employed to work on the project and expectations are that many more would be employed as construction works progress.
Addressing a cross-section of the public during a brief ceremony, Oheneba Adusei Poku commended Soroma Capital for initiating the project at one of the high-class residential areas in Kumasi.
He said the project would not only add to the tourist attractions in Kumasi when completed, but would also provide accommodation for the emerging middle-class group who find it difficult to rent apartments in the metropolis.
Oheneba Adusei Poku pointed out that it was therefore, important for the project managers to put premium in the quality of work to entice others to invest in real estate, which he said, had now become the norm in urban centres.
“For the first time, Kumasi is going to have first-class real estate edifice which befits its status as the Garden City, so it is important that you use all the requisite expertise and avoid compromising on quality” he advised.
He gave the assurance that he would consult the Asantehene, Otumfuo Osei Tutu II, for him to release adequate land for investors who would be interested in investing in real estate, and thereby ease accommodation problems affecting residents in the metropolis.
In his address, the Project Manager of Soroma Capital, Mr Kwabena Addi-Kissiedu, said their desire of initiating the project in Kumasi, especially the Ridge residential area, was to offer the emerging middle-class group the opportunity to be accommodated in high-class residential areas.
That, he said, would not only provide serene atmosphere for them to concentrate on their core businesses, but would also enable them have the peace of mind to focus on how to increase productivity and income generation.
Explaining further, Mr Addi-Kissiedu noted, “Property investors are interested in diversifying their portfolios geographically, and Soroma Capital is blazing the trail with these apartments in Kumasi as our contribution to raise standards in the metropolis”.
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