Ghana: Beaufort Properties has announced a joint venture with CityBlue Hotels, a company owned by The Diar Group
Under a long-term arrangement, the companies will build two apartment buildings in Accra. Pinewood Residences by CityBlue, will be a 30-unit development, in Airport Residential and Trinity Residences by City Blue, will be a 25-unit development, in East Legon. Both properties will be a combination of aparthotel and serviced apartments that are scheduled to open in Q4 of 2023.
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, said: “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”.
