Shelter Afrique top executives visit Bijou Homes in Appolonia City
Directors of Shelter Afrique paid a working visit to Bijou Homes within Appolonia City, the new city in Greater Accra. During the visit, discussions were held about possible funding by Shelter Afrique to accelerate Bijou Homes’ construction to meet the needs of the rapidly growing urban population in Accra.
Bijou Homes’ developer is GHL Bank, Ghana’s leading mortgage finance institution. Shelter Afrique is a pan-African finance institution that supports the development of the housing and real estate sector in Africa, with a track record of funding private residential developments in Ghana. The directors of Shelter Afrique see the viability of Bijou Homes due to its success since its launch in 2017.
Edward Nyarko, Project Supervisor of Bijou Homes, said, “We tested the viability of this project with 100 units of three kinds of homes: one-bedroom expandable, two-bedroom expandable and terraced apartments.”
“I’m happy to tell you that. within the first year of construction, we have sold more than 60 percent of the units to residents”, he added.
Andrew Chipondah, Managing Director of Shelter Afrique, explained that the organisation builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate.
“Understanding the development process and timeline helps us get a clear map when building a real estate project finance model,” Chipondah said. “That is why we accepted the invitation to come to see for ourselves the commendable work being done on the Bijou Homes project in Appolonia City.’.
The Shelter Afrique officials also took a tour of Appolonia City and lauded the infrastructure development.
Appolonia City CEO Bright Owusu-Amofah said, “Bijou Homes provides residents with affordable housing surrounded by high-quality infrastructure, including tarred roads, power, water and ICT, as well as schools, clinics, shops and green space. We are confident that with the support of Shelter Afrique Bijou Homes can deliver more affordable housing for Ghanaians.
Earlier this year, the first phase of Bijou Homes was officially opened to new residents and potential homeowners.
About Appolonia City (www.appolonia.com.gh)
Appolonia City is a 2,325-acre (941-hectare) inclusive mixed-use new city in Greater Accra. A seamless live-play-work community, Appolonia City offers homes, offices, shopping, schools, healthcare and ample parks and open spaces. High-quality tarred roads, power, ICT, water and storm drains are already available at Appolonia City.
Appolonia Industrial Park is a 200-acre, modern warehousing, logistics and light industrial zone with world-class estate management services.
Appolonia City is a development by Rendeavour, Africa’s largest private city developer with projects in Ghana, Kenya, Nigeria, Zambia, and Democratic Republic of Congo.
About Bijou Homes (www.bijouhomesgh.com)
Bijou Homes is located at Appolonia City, offering 1- and 2-bedroom (expandable to 3) multi-functional, modern homes for Ghanaian young professionals and senior executives as well as non-residents. At a location which offers superior urban infrastructure, housing and places of work, you have the opportunity to enjoy the comforts of a gated community, 24/7 security, communal amenities and more at very affordable prices.
About Shelter Afrique (www.shelterafrique.org)
Shelter Afrique is a pan-african finance institution which supports the development of the housing and real estate sector in Africa.
A partnership of 44 African Governments, the African Development Bank (AfDB) and the Africa Reinsurance Company, Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate.
These include project finance, institutional lending, equity investments & joint ventures, trade finance, and social housing. We also offer practical advice and technical assistance to a wide range of industry stakeholders.