Ghana Home Loans Limited the leading home finance institution has announced its acquisition of the first commercial plot at Appolonia, City of Light, the mixed-use urban development near Accra. The company intends to place a branch at the site to provide financial services and support to individuals who wish to build or buy homes within the project.
Commenting on the acquisition, Mr. Dominic Adu, CEO of Ghana Home Loans said, “Appolonia is a bedrock of opportunity for the Accra real estate sector, and Ghana as a whole. Their vision is well thought out and being a part of it will enable us continue do what we do best – providing a suite of appropriate home finance products to Ghanaians. Our residential housing products fit perfectly into Appolonia’s goal, be it home or land acquisition, home completion or construction, we will be there to provide financial support and education every step of the way”.
Construction of the branch will begin by the third quarter of 2016 with an initial staff strength of five. This will increase in line with the speed of development at Appolonia. Financing will be available to purchase either plots within the ‘Buy and Build’ development of Nova Ridge or a home within the new housing development; The Oxford. Appolonia is planned to be a self-sustaining satellite city with the requisite infrastructure and all the benefits of urban living. At full capacity, Appolonia will have approximately 80,000 residents with 22,000 housing units.
“Ghana Home Loans is now a household name, and has become synonymous with housing finance.” said Anthony Okyere, Chief Executive Officer of Appolonia City of Light. “Their presence at Appolonia will give individuals the opportunity to buy, build or complete their dream house within our residential enclaves and be part of the Appolonia vision”
About Ghana Home Loans Limited
Ghana Home Loans (“GHL”) is a home finance institution which operates under Bank of Ghana supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Since it’s inception, Ghana Home Loans has disbursed loans in excess of $150 million through their housing productsHome Purchase MortgageHome Equity Mortgage
• Home Completion Mortgage
• Home Construction Mortgage
• Land Purchase Mortgage
• Quick Cash
About Appolonia – City of Light
Appolonia – City of Light, a partnership between Rendeavour, Africa’s leading urban land developer and local communities, is a fully master planned, mixed-use and mixed-income urban development in the Greater Accra Metropolitan area. The project will be developed for residential properties, retail and other commercial centres, as well as schools, healthcare and other social infrastructure. All local and national regulatory approvals have been met and a full land title certificate has been granted. In April 2015, sales of the first residential phase, Nova Ridge, were launched, offering Ghanaians an opportunity to live in a master-planned environment with close access to Accra.