Kumasi Airport City Project takes off – Asantehene calls for policies to attract local private capital

The Asantehene, Otumfuo Osei Tutu II, has called for tailored policy interventions that provide incentives for Ghanaians to invest more in the country and drive economic growth.

“It is time to begin a national conversation to encourage Ghanaians to have faith in the nation and be prepared to put their money where their mouths are,” he said.

Otumfuo stressed that achieving this would require the government to introduce innovative policies beyond existing frameworks to motivate and reward private enterprise while reducing investment risks.

He made the remarks in a speech read on his behalf by the Hiahene, Nana Professor Oheneba Boachie-Adjei Woahene II, during a sod-cutting ceremony for the Airport City Kumasi project last Friday.

The event was attended by clergy, the Turkish Ambassador to Ghana Hüseyin Güngör, officials of the Ghana Airports Company Limited, development partners, and the general public.

Airport City Kumasi

The mixed-use project is an initiative of Stephen Owusu, founder and CEO of HDG Group. Located on 50 acres of land opposite the Prempeh I International Airport, the development will feature luxury homes, apartment buildings, a hotel, shopping mall, restaurants, a medical facility, a school, parks, and an event centre.

HDG Homes, established in 2019, is partnering with Miller Holding, a leading Turkish construction firm, for the project. The first phase is expected to be completed within two years.

“Our people have to be upfront in leading development efforts as we need our entrepreneurs to step forward and be prepared to take the risk of investing in a sustainable manner towards the development of the country,” Otumfuo stated.

Cedi Stability

The Asantehene commended President John Mahama’s administration for stabilising the local currency, saying it provided a strong foundation for productive dialogue in the business community.

“We hope that it will encourage the desired upsurge in productive investments,” he added.

Praise for CEO

Otumfuo Osei Tutu also lauded Mr Owusu for his dedication and vision, calling the Airport City Kumasi project an example for others to follow in contributing to regional development.

He appealed for broad support for the initiative and called for renewed efforts to transform Kumasi into an economic powerhouse to create jobs for the growing youth population.

A Smart Sustainable City

Mr Owusu described the project as a smart and sustainable city poised to match top developments across the continent. He revealed that some components, including the Greenwich residential facility, would be completed within five months.

“Airport City Kumasi is poised to attract investments exceeding millions, further propelling Ghana into a commercial epicentre for both the nation and the West Africa region,” he said.

Investment Outlook

Kwabena Obeng, CEO of KOSS Assets, one of the project’s investment partners, said airports were evolving into engines of regional development.

He disclosed that the Best Western Premier hotel alone would cost $15 million, with a medium- to long-term goal of investing between $70 million and $100 million in the airport enclave.

Mr Obeng noted that the project would generate hundreds of jobs, expand Ghana’s tourism and aviation ecosystem, and contribute to making Kumasi a key commercial and logistics hub in West Africa.

International Partnership

Mert Mildon, President of Miller Holding, said although this was the firm’s maiden project in Ghana, more projects were planned for both Accra and Kumasi.

He said Miller Holding’s investments in Africa had surpassed $3 billion, and the company aimed to make a lasting impact on Ghana’s construction sector.

Government Support

Ashanti Regional Minister Dr Frank Amoakohene pledged the government’s commitment to supporting private sector initiatives through tax waivers and holidays.

He noted that with over 40% of households in the region living in rented homes and limited modern infrastructure, the project would help bridge the housing gap and improve urban living standards.