Dumasua:Elim City, a faith-based organization, has initiated a real estate project in the Sunyani West Municipality of the Bono Region, aiming to promote community development.
According to Ghana News Agency, the project, named 'Elim City Estate,' is a collaboration between Elim City and Signum Development, a real estate developer. The gated community will feature residential apartments, serviced plots, a church, a school, a hospital, a hostel, and recreational facilities.
The development includes amenities such as a football pitch, children's playground, landscaped green spaces, and a restaurant. Dr. Gospel Odame-Kentoe, Senior Pastor of Elim City, stated that the project is designed to offer essential services and amenities to residents while enhancing security.
Dr. Odame-Kentoe revealed that serviced plots are priced between GHS250,000 and GHS400,000, with flexible installment payment options for buyers. At the launch ceremony in Sunyani, he mentioned that residential properties range from GHS1.04 million for a semi-detached two-bedroom house to GHS3.2 million for a detached four-bedroom house.
Buyers are required to make a five percent initial deposit, with the remaining balance payable over five years. The prices will remain valid for three months. The project aims to foster a community environment conducive to raising families, accessing education and healthcare, and enjoying recreational activities.
Despite facing funding, design, and implementation challenges since its inception a decade ago, the partnership with Signum Development has resolved many issues, positioning the project for successful completion.
Ogyeamansan Boahen Korkor II, Paramount Chief of the Sunyani Traditional Area, praised the project as an investment that could alleviate congestion in urban centers by extending development to emerging communities. He encouraged the developers to extend the installment payment period to aid prospective buyers.
Mr. Allen Harden, Corporate Sales Manager of Signum Development, noted that the plot prices reflect the additional amenities and services offered within the estate. He added that land in the area typically sells for about GHS150,000, but the Elim City Estate provides added value with access to essential services. Prospective buyers can also obtain mortgage facilities through their banks to assist with property acquisitions.