Verdant Ventures to commission 106-unit diplomatic estate in Accra
Verdant Ventures (“VV”) has entered into a strategic partnership with Ghanaian developer Dara Salam Group (“DSG”) to launch a high-end diplomatic residential project, targeted to start in February 2023.
The project will see the construction of 106 world-class units comprising two, three and four-bedroomed apartments and penthouses built to international, seismic and diplomatic standards.
Located in the diplomatic blue zone of Accra and adjacent to Independence Avenue, the state-of-the-art project will feature bespoke amenities and facilities suitable for diplomatic and high-end corporate tenants who require international standards of seismic compliance, fire and life safety in a community environment.
The conveniently located site is in close proximity to malls, restaurants, hospitals, diplomatic missions and the airport.
Verdant Ventures, a US-based real estate development company specializing in diplomatic and corporate accommodation development in Africa has recently completed two similar projects in Ethiopia and Kenya.
The Ethiopian development comprises a 112-unit residential tower located in the Gulele area of Addis Ababa. The Kenyan project consists of a 90-unit development with extensive amenities and was awarded “Best High-End Residential Development” at the API summit in September 2022. Both are anchor tenanted by the US Government through its Overseas Building Operations (OBO).
“Ghana is one of the fastest growing economies in Africa and provides attractive opportunities for investors and international organizations. We are honoured to partner with Dara Salam Group to develop this landmark project that will offer the highest level of accommodation in Accra and support the country’s pole position as an international hub for corporates and diplomatic engagements,” said Tim Redman, CEO of Verdant Ventures.
“DSG is proud of partnering with Verdant Ventures to offer this exceptional project to the Accra market. Verdant Ventures’ track record of developing and delivering two similar projects on the continent gives us much confidence in our partnership and our vision to create international-class residential communities in Accra,” said Alhaji Yusuf Ibrahim, Chairman of DS Real Estate.
An award-winning consortium of international consultants have teamed up with local professional firms to design the project and ensure its completion within the stipulated timelines. Designed to IFC Edge Green building standards, the project features solar power, spare water storage, backup power generation and on-site wastewater treatment.
Amenities include a swimming pool, gym, clubhouse and reception area, exterior barbecue zones, children’s playgrounds and dog runs. Underground tenant parking and storage are also provided, together with ample surface visitor parking.
“This is our third Diplomatic Housing project in Africa; we are extremely proud of our record of delivering international standard developments within programme and budget, allowing our clients to focus on their core activities in the continent,” Redman added.
Verdant Ventures’ team has extensive real estate experience on the African continent, having collectively completed more than 130 projects worth over $3.5B across 29 African countries. Verdant Ventures has a current pipeline of $330M of diplomatic residential and commercial projects in 9 countries.
The Dara Salam Group is an established Ghanaian company with a diversified portfolio of activities. DS Real Estate has delivered over 50 townhouse residential units in the past 5 years, and is currently developing an office building with 37,000m2 of leasable space in the Airport City area.
The Ghana project is set to create over 1,500 jobs during the construction phase and will include several social investment initiatives to empower communities in Accra.