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Beaufort Properties and CityBlue announce two apartment projects in Accra

Award winning Ghanaian Real Estate Developer Partners with Africa’s Fastest Growing Local Hotel Chain, CityBlue

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Pinewood Residences by CityBlue

Beaufort Properties, one of Ghana’s most experienced residential developers, based in Accra, yesterday announced a joint venture with CityBlue Hotels, Africa’s fastest-growing local hotel chain, owned by The Diar Group.

Under a long-term arrangement, the two companies will build and operate two apartment buildings in premium locations in Accra. Pinewood Residences by CityBlue will be a 30-unit development, in Airport Residential, Accra, and Trinity Residences by CityBlue will be a 25-unit development, in East Legon, Accra. Both properties, which are scheduled to open in the fourth quarter of 2023, will be a combination of a hotel and serviced apartments.

Pinewood Residences by CityBlue is located on Senchi Street in the Airport Residential Area, one of the most sought-after locations in Accra. The street is home to Mirage Residence, Association School, the landmark Kass Towers, and Hollard Life Assurance.  The seven-story development is within walking distance to Accra’s top restaurants (Santoku, SkyBar, and La Chaumiere) and is less than 10 minutes drive to Kotoka International Airport.

The Trinity will offer some of the largest studio and one-bedroom aparthotel units in Accra – modern and stylish in character. It is the latest phase in the wider Riviera Residence scheme (phases 1 and 2 have already been completed), which is a unique mixed-use, residential development, encompassing living, dining, and shopping, in a magnificent lakeside setting in the middle of East Legon.

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Ernest Hanson, CEO of Beaufort Properties, said: “The Diar Group has truly identified a gap in the sub-Saharan market over the past decade and this is the time to see CityBlue in Ghana. The brand has consistently demonstrated both growth and resilience across multiple East African markets and it has reached a natural time to launch its first portfolio in West Africa. Beaufort Properties has a strong base and team of professionals in Ghana who are excited to bring such a fresh and native brand into the hospitality sector in Accra.”

Jameel Verjee, Principal of The Diar Group and Founder of CityBlue, concluded: “Our journey across East, Central, and Indian Ocean Africa has been our platform. We believe that this has prepared CityBlue for the next phase of expansion and, to do so, it makes sense to partner with a world-class, local team in Ghana with a significant track record of real estate development and a confident view of the post-pandemic rebound in the hospitality sector.”

Beaufort Properties is a Ghana-based real estate development and management company. The Company has a proven track record of over 10 years and is one of the most experienced residential developers in Accra with over 8 completed developments. Two of their projects won International Property Awards for the Africa Region in 2016 and 2019. The company continues to offer quality living experiences with world-class amenities in central Accra at the lowest price point.

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Mombasa City County Puts On Hold New Traffic Guidelines Due To Public Outcry

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Mombasa County Transport and Infrastructure Executive Taufiq Balala announced the changes on traffic routes for Mombasa motorists starting on Wednesday, 2, 2022 to reduce congestion.

The Mombasa County Government has suspended the new traffic system  introduced on a trial basis early this month.

Speaking at Mombasa County Inspectorate Headquarters in Tudor, the County Executive for Transport Taufiq Balala announced that the usual Two-way traffic system would resume immediately.

“After wide consultation with the Governor, he directed that the Mombasa County Government Department of Transport, to reconsider the plans currently being implemented and review the same.”

This follows a demonstration notice which was to be on same day the new traffic system is put on hold. The affected  included passengers, Public Service Vehicles operators, and Stoke holders.

“By Wednesday February 9,  2022,  the traffic flow of motorist vehicles will revert to the position prevailing before February 2 2022. So as to restore the two-lane opposing system used previously around the island,” said Balala.

Balala also told the journalist that the new traffic system was intended to become permanent once the teething problems and challenges of the system are identified in the city.
“To this end, and in response to the good people of Mombasa, I have ordered the immediate suspension of the current traffic management plan effective from midnight today,” said Balala.
He noted that the changes were intended to secure the best traffic system for the interest of Mombasa residents to serve both the present and future generations.

Another reason for the new system was for the safety of the pedestrian due to increased accidents within the county.

“We cannot pretend to close our ears, shut our eyes and seal our mouths in the face of the people’s cries for intervention.

It is said that the voice of the people is the voice of God, we are not insensitive to the suffering experienced by our people,” said Balala.
According to the new traffic rules,  most of the major roads had been turned into one way,  a move that brought chaos and huge traffic snarl-up in the town center while the trucks were barred from entering the CBD before 8 pm to 8 am.

“This traffic plan was meant to serve the different interests of all residents of Mombasa county, however as a long sizeable number of the population in affected areas feels aggrieved we cannot ignore their plight but must pay hid to the cries of people we serve,” said Balala.

The Mombasa residents who were confused with the new system couldn’t hide their joy after the suspension of the rules.  They urged county officials to always engage them before welcoming any new changes affecting the public. This is in line with national law that requires public participation in government projects.

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Vantage Capital arranges R430 million of mezzanine funding for Collins Residential, one of South Africa’s largest residential developers

Seaton Estates looks to support the growing need for residential housing in the middle to upper segments of the property market along the North Coast of KwaZulu Natal

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Vantage Capital arranges R430 million of mezzanine funding for Collins Residential, one of South Africa’s largest residential developers (Source: vantage capital group)

Africa’s largest mezzanine fund manager, announced today that it has arranged R430 million of mezzanine funding for the development of Seaton Estates, a residential coastal development located on the North Coast of Kwa-Zulu Natal, South Africa. The promoter of the transaction is Collins Residential, the residential arm of a diversified group with interests in the real estate, hospitality, and agricultural sectors, both in South Africa and internationally. The Collins Group is a multi-generational family-owned business, headed by Murray Collins, which has its roots in construction dating back to the early 1900s. Collins Residential has a recognized track record in KwaZulu Natal, with prior developments including the recently completed Zululami Luxury Coastal Estate (adjacent to the Seaton development), Mount Edgecombe Retirement Village, and Emberton Estate.

Seaton Estates looks to support the growing need for residential housing in the middle to upper segments of the property market along the North Coast of KwaZulu Natal, one of the fastest-growing regions of South Africa. The growth in housing demand is supported by robust emigration trends, strong infrastructure investment in the region, and the increased flexibility that South Africans have to work from home, a lasting consequence of the Covid-19 pandemic.

The Seaton Estates development sits on the prime property with direct, exclusive access to a kilometer stretch of beach frontage. Seaton comprises 1198 single residential stands, and 29 Planned Urban Developments, over 7 phases. The development is designed to be an eco-friendly coastal estate characterized by country grasslands, ocean views and rehabilitated indigenous forest lands. Facilities within the development will include leisure zones, a beach clubhouse, direct beach access, multi-sports facilities, 26km biking/running trails, and rehabilitated natural forest and parks. Later stages of the development will include commercial mixed-use nodes, retail, education, and sporting facilities. The development is near the popular leisure towns of Salt Rock and Ballito.

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Murray Collins the Managing Director of Collins Residential noted, “Seaton represents a unique way of living on a grand scale. As the developers of this iconic estate, we are driven by a genuine commitment to conservation and preservation of the natural landscape all the while designing within the framework of sustainable and meaningful development, to significantly elevate the North Coast of KZN.”

This transaction represents Vantage Capital’s 32nd mezzanine investment across four generations of funds in eleven African countries. Outside of South Africa, Vantage has invested in ten jurisdictions including Egypt, Morocco, Côte d’Ivoire, Ghana, Nigeria, Uganda, Kenya, Mauritius, Namibia, and Botswana.

Luc Albinski, Chairman of Vantage Capital said, “KwaZulu Natal has been hard hit by the recent riots. We are delighted to be able to help build back confidence in the region by making our first mezzanine investment of Vantage’s fourth fund into this wonderful project, which will generate hundreds of jobs over its seven-year construction period.”

Roshal Ramdenee, Associate Partner at Vantage Capital, added, “We are proud to support one of South Africa’s leading residential developers in what will be a transformative development for the North Coast of KwaZulu Natal. Seaton Estates directly addresses the needs of buyers in a burgeoning economic hub, whilst providing unparalleled access to world-class facilities and a wonderful ecological habitat.”

Adaptive Consulting acted as financial advisor to the transaction, Werksmans Attorneys acted as legal counsel for Vantage, and other advisors included Webber Wentzel, PWC, JLL, Pro Africa, Citeplan, and IBIS Consulting.

Vantage Capital arranges R430 million of mezzanine funding for Collins Residential, one of South Africa’s largest residential developers. (Source: Vantage Capital Group)

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Government Will Spend 5 billion Shillings In The Expansion of Malindi Airport

More than 1,800 families living on the land are marked to create room for the airport expansions project. The families through their representative Mr Harrison Kavoi, urged the government to speed up the compensation exercise, so that they can move on with their usual lifestyle.

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It has emerged that the Kenyan government will spend about 5 billion shillings in the expansion of Malindi International Airport.

Part of the money will be used to compensate the residents who will be evicted during the exercise. This is according to the National Development, Implementation Technical Committee. The Committee has also disclosed that a consultant has already conducted an evaluation of the property of the said land. Those who defy the agreement to build new buildings in the area, will not be compensated.

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Mohammed Karama, Malindi Airport Manager said: “An Environmental Impact Assessment and reallocation action plan has been done and forwarded to NEMA for approval.  We have an approved NEMA Certificate that will enable us to continue. We are waiting for the allocation of money.”

It’s been two years since the evaluation process was done but the Malindi residents whose lands were marked for the Malindi Airport expansion are still stranded because they are not in a position to carry out any development after being stopped from constructing new buildings on the land.

The Kenya Airport Authority wants to expand the Malindi airport by upgrading the runway from the current 1.4 kilometers to 2.4 kilometers. This will allow international planes to land directly at the airport and boost tourism in the areas of Malindi, Watamu, and Mamrui.

Health Ministry’s Principal Secretary Susan Mochache urged the residents living there not to carry out any development activities in the land set aside.

“We shall get the money, and I urge the residents living in the area to limit the development since they know that there is an intention by the government to develop that land. There is no point for them developing it, yet are nearing compensation,” said the PS.

More than 1,800 families living on the land are marked to create room for the airport expansions project. The families through their representative Mr. Harrison Kavoi, urged the government to speed up the compensation exercise so that they can move on with their usual lifestyle.

“We need to be paid, we should be paid by the Airport, our houses have been demolished and now we only remain in the squatters’ house. We are unable to build because of fears and worries that if we build the houses, this project might start any time and our houses will be demolished,” said Kavoi.

Since the evaluation, the area residents haven’t heard from the National Development, Implementation Technical Committee.

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