City of Light introduces ‘buy and build’ at Nova Ridge
A special cocktail evening to further educate new and prospective clients on the concept of the Nova Ridge enclave set within Appolonia-City of Light was held at the Appolonia Offices at North Ridge-Accra. The event was well attended by entrepreneurs, representatives and employees of corporate institutions and prospective investors.
The evening served as a platform to present the concept of ‘buy and build’ to potential clients. A departure from the norm in Ghana, it affords owners the opportunity to build to their own taste and lifestyle without compromising on quality, available infrastructure, sustainability or security. The end product is obtaining the full benefit of urban life at a comparatively lower cost.
“This event is just the beginning of such interactions with the general public and will be a recurring feature over the course of the year.” said Mr. Anthony Okyere, Director of Appolonia Development Company “Developments such as the City of Light are vital to the progression of urban Ghana and we are delighted to present Nova Ridge as a unique opportunity in the market.”
Current progress on infrastructure at the City of Light includes the installation of a 33kVa substation and the construction of the Nova Ridge gatehouse. Further work on infrastructure such as roads and sewerage network are well underway.
Attendee, Mr Boham said “I was impressed to see the quality of development at Appolonia. It is nice to see that this can be achieved in Ghana and I was particularly interested in the idea of buy and build. When you sit down to do the math, and you have the future in mind, you realize it’s a great investment.”
The cocktail was concluded by showing a drone video of Roma Park; a similar project undertaken in Lusaka, Zambia by Rendeavour, the mother company of City of Light. Roma Park’s highly successful residential phase has nearly sold out, and prices since launch in 2011 have increased by 129% with all infrastructure now complete. With over 12,000 hectares of urban development in Ghana, Kenya, Nigeria, Democratic Republic of Congo and Zambia, Rendeavour, Africa’s largest urban land develop has set itself apart as a key advocate and investor in the development of urban centres across the continent.
Rendeavour partners with Lagos State
Rendeavour, Africa’s largest urban land developer, has signed a joint venture agreement with the Lagos State Government and Lekki Worldwide Investments Limited for a mixed-use land development within the Lekki Free Trade Zone. The multi-billion naira project will include the development of world-class infrastructure and creation of thousands of employment opportunities.
“We are delighted to partner with Lagos State and Lekki Worldwide Investments Limited on this visionary project for Nigeria and Rendeavour,” said Stephen Jennings, Founder and CEO of Rendeavour. “Our investment in Lekki will contribute to the further diversification of the economy of the region, increase local employment and encourage industry to thrive. Rendeavour’s urban developments in Ghana, Kenya, Zambia and Democratic Republic of Congo are setting the standard for well-planned live-work-play environments, and our expansion in Nigeria further demonstrates our record of success.”
The Lekki Free Trade Zone has stimulated major investment into Lagos State and Nigeria. The start of construction for the deep-sea port to the south of the zone is already well under way, whilst the proposed new International airport close to the free trade zone, is poised to offer a major alternative point of entry into the country. The recent entrance of Dangote Industries, alongside other companies moving to the Zone, has further boosted the Lekki Free Trade Zone project. These investments have already led to a general buoyancy in the economy of the wider Lekki sub-region. This will be further enhanced by Rendeavour’s entrance.
Speaking on behalf of Lagos State, Honourable Commissioner for Commerce and Industry, Mrs Olusola Oworu said: “We are thrilled to have a global company with Rendeavour’s experience working alongside Lagos State. Rendeavour have shown a unique understanding of the overall Lekki concept, and we are certain this partnership will bring numerous benefits to the local area, the wider Lekki peninsula and of course Lagos State. We look forward to working with Rendeavour to ensure relevant documentation is abided by and to a fruitful partnership in the years to come”.
Rendeavour, which initially has joint ventured on developing 250 hectares (approx. 625 acres) with an intention to increase the project land size, will begin feasibility studies and the project’s comprehensive master plan, ensuring that all regulatory approvals and studies are completed before commencing construction.
“The Lekki Free Trade Zone is poised for a period of significant development and value creation,” said Yomi Ademola, Rendeavour’s Country Head for Nigeria. “With the continued support of the Lagos State Government and Lekki Worldwide Investments Limited, we believe that this project will play a key role in the wider transformation of the Lekki peninsula.”
City of Light Tests New Power Substation
Agreement signed with Best & Crompton Engineering Ghana Ltd for world-class power infrastructure
Appolonia – City of Light, the mixed-use, mixed-income development located in Greater Accra, has completed the factory acceptance test (FAT) for power substation equipment to provide electricity to the project and its residents.
As part of a comprehensive agreement with Best & Crompton Engineering that includes the design, supply, installation and commissioning of power infrastructure, City of Light will receive the 33/11kV substation equipment and a 20/26MW power transformer for the project in a month’s time.
“The delivery of the power substation equipment is a significant milestone in the development of Appolonia – City of Light,” said Anthony Okyere, Director of Appolonia Development Company Limited. “Our recently launched residential phase, Nova Ridge, will be the first beneficiary of this infrastructure investment, which will also serve future phases in both the residential and commercial areas.”
Commenting on the agreement, Mr N Ravisankar, Managing Director of Best & Crompton, said, “We are pleased to provide world-class power equipment to such a unique and transformational development in Ghana. Our decades of experience and reputation for delivery in this sector make us a natural partner for Appolonia – City of Light.”
The power transformer, manufactured in India by Crompton Greaves Limited, was designed in collaboration with Electricity Company of Ghana – a unique demonstration of a private sector-led expenditure in close cooperation with a Ghanaian public utility.
“Appolonia – City of Light is a pioneer in urban planning in Ghana, and we appreciate their close collaboration,” said Ing Julius Kpekpena, Director of Engineering at the Electricity Company of Ghana.
The substation will be commissioned in Ghana in the coming months, with full power supply expected by the end of the year.
Nova Ridge, the first residential phase of City of Light, launched sales in March, offering fully serviced plots with clean land title, and ample outdoor space.