A leading real estate company in the United Arab Emirates (UAE), DAMAC Group, has expressed interest in investing in the country’s technology, hospitality, construction and mining industries.
Founder and Chairman of DAMAC, Hussain Sajwani, disclosed this when he paid a courtesy call on the President, Nana Addo Dankwa Akufo-Addo last Tuesday, to discuss his company’s aspirations and plans to invest in Ghana.
Mr Sajwani, who is in the country to explore investment opportunities, also held series of meetings with the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Mr Yofi Grant; Minister of Communication and Digitalisation, Mrs Ursula Owusu-Ekuful and Minster of Works and Housing, Francis Assenso Boakye.
DAMAC Group is a leading Middle Eastern real estate developer that has shaped the region’s luxury real estate market since the 1980s, creating landmark residential, commercial, and leisure projects throughout the region and internationally.
“At the Presidency, President Akufo-Addo expressed his appreciation for the visit and reiterated Ghana’s openness and readiness to work with the private sector in various sectors to transform and build a stronger modern country,” a statement issued by the GIPC in Accra yesterday said.
He called for increased investments and smart collaboration between local and international partners to optimise Ghana’s abundant resources and opportunities for mutual benefit.
Mr Sajwani, told President Akufo-Addo that he saw Ghana as an ideal location in Africa to spread his company’s footprints.
He stated that the DAMAC Group was keenly interested in pursuing a variety of real estate and hospitality projects as well as building capacity to cater for hyper-expansion and upscaling to enhance the nation’s Information Communication Technology infrastructure.
“This engagement is another wonderful step toward deepening our economic partnerships with Ghana,” he stated to the group as he emphasized on partnerships and job creation potential for the Ghanaian youth,” Mr Sajwani stated.
Mr Grant described DAMAC Group Chairman’s reciprocal visit to Ghana as rewarding, saying, “this is the result of several talks and engagements, including President Nana Addo Dankwa Akufo-Addo’s visit and engagement in Dubai during the Expo 2020 in March this year, to develop the appropriate connection with DAMAC, and to have them begin investments in Ghana will be one of our great triumphs. It is now critical that we facilitate and make the process come to fruition.”
He said GIPC would continue to pursue investments and create an enabling environment for investors seeking to establish themselves in Ghana.
Mrs Owusu-Ekuful said DAMAC’s intention to engage in Ghana’s ICT industry was great news considering the UAE’s progress in technology adoption, adding that “Ghana and the UAE share a common vision for the future of technology, and I’m delighted we decided to hold this meeting.”
She explained that Ghana had been pursuing an ambitious digitalisation strategy in recent years, and that collaboration with experienced corporations like DAMAC would help speed the digital transformation agenda of the government.
BY TIMES REPORTER