The Ghana Trade Fair Centre in Accra is set to undergo a massive redevelopment project worth $2 billion. This project will transform the old Centre into a modern trade exhibition site, complete with a 12,000 seater trade convention centre, modern hotels, retail shops, and other residential and commercial developments.
A memorandum of understanding (MoU) has been signed between the Ghana Trade Fair Company Limited and the Stellar Holding Pte. Ltd, a Singaporean company, to establish a joint venture for the financing and redevelopment of the Trade Fair site. Under this agreement, the Singaporean company is expected to invest an estimated $1 billion for the development of 65 acres of the total 140-acre site.
The first phase of the project, which will focus on developing the Convention Centre and Exhibition Halls, is set to hold the World Economic Forum, Africa. This is a significant opportunity for Ghana, as the Convention Centre is seen as an opportune venue that compliments the country’s status as the “commercial centre” of Africa.
The second phase of the redevelopment project will include the development of luxury hotels, high-end malls, and other commercial and residential facilities. The completion of the project is expected to take between three to five years.
The timing and capacity of the Convention Centre is expected to be most opportune, as it will host a range of events, including concerts, which will complement Ghana’s growing status as a destination of choice for young tourists during the Christmas festive season. Additionally, other developments are coming up on separate sites of the Trade Fair, including a tech hub that will serve a global market.
The partnership between the Ghana Trade Fair Company Limited and Stellar Holding Pte. Ltd is expected to bring about a significant boost to the Ghanaian economy, create employment opportunities, and enhance the country’s status as a commercial and tourism hub in Africa.
See prototype images below
