110 Million Dollars To Be Spent On Kumasi City Mall

The Asantehene, Otumfuo Osei Tutu II, over the week end, cut the sod for commencement of construction works on the Kumasi’s first modern shopping complex at Asokwa, a suburb of Kumasi. The USD 110 million dollar ‘Kumasi City Mall’, covering an area of 29,000 square metres, is being developed by Delico Kumasi Limited, an affiliate of Delico Property Developments Limited, the company developing Accra’s West Hills Mall which is now less than six months to completion. The Kumasi City Mall, described by the developers as having great potential of overtaking West Hills Mall in size, is designed to roll out in two phases, comprising a retail shopping mall component which will have two big anchor tenants - Shoprite and Game - and will offer spaces for as many as 60 line shops and restaurants. The development has a possibility of a second phase which, if completed, will deliver a 120-bed ultra modern Hotel to the Ashanti capital. Kumasi City Mall will have an approximate total parking capacity for 1,250 cars. ‘The absence of a commercial complex of this standard in a city like Kumasi has been so glaring over the years and I am so happy that at long last our city is about to get its own world class Mall to promote business, commerce and recreation for our people,’ Otumfuo declared just before he shovelled up earth to signal the start of construction work on the 15.43 acre land acquired for the Ashanti capital’s first modern shopping complex. The Asantehene emphatically reminded his Chiefs and people that all lands are vested in the Asanteman stool and that he would personally do everything to ensure that the lease of lands for productive and economically viable development projects which will generate employment for his people will always supersede the sale of lands for any other purposes. Of the Kumasi City Mall, Otumfuo said: ‘Whenever I travelled to South Africa, I impressed on my own ‘grandson’, Kofi (i.e. Mr. Kofi Sekyere, Director of Delico Kumasi Limited, who is a native of Kumasi) and his partners in Delico to seriously consider the prospect of investing in a world class mall for our city, Otumfuo told a large gathering of Chiefs, public officials and eager natives of Kumasi. The developer, Delico Kumasi Limited is a subsidiary of Delico Property Developments Limited, Mauritius, which is itself jointly owned by Nasek Investments Limited, a company wholly owned by Ghanaians, and Atterbury Africa Limited, the investment vehicle into Africa for Atterbury Investment Holding Limited and Hyprop Investment Limited – both highly respected South African property investment companies.