PROJECT

Projects

Summary of Investment Information

Project Number

38970

Company Name

KENSINGTON RESIDENTIAL PARTNERS 1 LIMITED

Date SPI Disclosed

Jun 27, 2017

Country

Ghana

Region

Africa

Projected Board Date

Sep 30, 2017

Environmental Category

B - Limited

Status

Active

Last Updated Date

Mar 24, 2018

Department

Regional Industry - MAS Africa

Industry

Tourism, Retail and Property

Previous Events

Approved : Sep 28, 2017
Signed : Dec 20, 2017
Invested : Mar 21, 2018

Sector

City and Business Hotel

Project Description

The Project comprises the completion of a greenfield development of a 108-apartment long stay aparthotel (the “Project Aparthotel”) at a prime site in central Accra, Ghana, as well as the subsequent equipping and placing into operation of the Project Aparthotel (the “Project”). After the opening, the Project Aparthotel will be managed by a professional third-party hotel operator. The Project is being developed and will be owned by a company called 1 Oxford Street Ltd. domiciled in Ghana, which has been incorporated specifically for the purpose of implementing the Project.  The Company is a 50-50 joint venture between Kwarleyz Group, a reputable developer based in Accra and the Cola Group, a London-based property investor.

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation