Award winning Ghanaian Real Estate Developer Partners with Africa’s Fastest Growing Local Hotel Chain, CityBlue
Beaufort Properties, one of Ghana’s most experienced residential developers, based in Accra, announced on 8 December 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 Q4 of 2023, will be a combination of aparthotel 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 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.
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”.
