The Ghana Trade Fair Company Limited under, the Ministry of Trade and Industry, has signed a Memorandum of Understanding with Stellar Holding Pte. Ltd of Singapore on re-developing the Trade Fair Site in Accra.
Specifically, under the agreement, Stellar Holding Pte. Ltd has been mandated by the Government of Ghana to redevelop the Trade Fair site into a mixed use, modern facility with a first-class convention centre, exhibition facilities and supporting facilities.
Phase 1, under the MoU, will focus on developing the Convention Centre and Exhibition Halls to hold the World Economic Forum, Africa with Phase 2 also looking at facilities including luxury hotels, high-end malls and other residential and commercial development.
According to the Ghana Trade Fair Company Limited, management will in the next few weeks put out a timeline of scheduled works and activities within the next month.
It will be recalled that in 2019, the two parties contracted a third-party company to undertake horizontal development of the entire Trade Fair site with works including servicing of the land and the construction of infrastructure including roads, drains, relocation and extension of utilities as well as partitioning of the site into varying lots.
Additionally, the agreement will allow the establishment of a Joint Venture Company to accelerate the developing and financing the development 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 Sixty-five acreage.
Stellar Holding Pte. Ltd, is a diversified global entity with interest across a number of sectors including, education, infrastructure, energy, agriculture, mining and international trade. It has implemented large-scale projects in these sectors for Governments across Asia, Middle East and Africa, providing turn-key design, builds and finance solutions to Governments to implement nation-wide social impact projects.
Through a network of global financial institutions, it has also shown competent financial capabilities in funding and raising required financing for its projects.