The project is spearheaded by HDG Homes in partnership with the Manhyia Palace
The Asantehene, Otumfuo Osei Tutu II, has called for a national dialogue aimed at encouraging domestic investment and fostering a more favorable business environment in Ghana.
Speaking through his representative, the Hiahene, Nana Professor Oheneba Boachie-Adjei Woahene II, during the sod-cutting ceremony for a new luxury apartment and penthouse development in Kumasi, the Asantehene emphasized the importance of national confidence and economic participation.
“It is time to begin a national conversation to encourage our people to have faith in their country and to be prepared to put their money where their mouth is,” he declared. “For this to happen, the country needs policies that encourage and reward private enterprise and minimize risks to investments.”
The project—spearheaded by HDG Homes in partnership with the Manhyia Palace—is situated directly opposite the Prempeh I International Airport and aims to provide premium housing in the Greater Kumasi Region.
The Asantehene commended President John Dramani Mahama’s administration for recent efforts to stabilize the cedi, describing it as “a sound foundation for rational dialogue with the business community, which we hope will encourage the desired upsurge in productive investment.”
He also paid tribute to Stephen Owusu, CEO of HDG Inc., for his vision, creativity, and dedication to national development, while acknowledging the contributions of his international partners.
“Stephen has been a devoted young man who has remained connected to his Asante heritage, even in the diaspora. A technology expert, he built a distinguished career with Tesco, the UK’s second-largest retail chain, serving in senior roles for over a decade.
Armed with experience and a valuable network, Stephen embraced entrepreneurship, creating a product that revolutionized the burgeoning fitness industry. Eventually, he turned his focus homeward and established a diversified business group, with real estate development at its core—culminating in today’s project.
This is the kind of example we want our sons and daughters to emulate. Across Ghana and within the diaspora, many of our citizens are blessed with resources. If wisely invested, these can make a significant impact on our economy,” he stated.
On his part, Stephen Owusu outlined his vision for the project, emphasizing the goal of building a modern, smart, and sustainable living environment that meets international standards.
“This project represents our commitment to transforming Kumasi into a world-class city,” Owusu said. “We are proud to partner with the Manhyia Palace to bring this vision to life and create a lasting legacy for future generations.”
According to him, the luxury apartment and penthouse development is expected to serve as a catalyst for further investment and growth in the Greater Kumasi Region, solidifying Kumasi’s position as a major economic hub in Ghana. The developers aim to complete the first phase of the project within [insert expected timeframe], and are actively seeking additional investment to expand in the coming years.
Ashanti Regional Minister Dr. Frank Amoakohene, who was also present, highlighted the region’s housing deficit—estimated at 5.4%—and emphasized the need for sustainable development projects to address challenges in housing, health, education, and sanitation.
He expressed concern over unplanned construction, citing issues such as poor drainage, encroachment on ecosystems, and development near river bodies. Dr. Amoakohene stressed the importance of planned development, pointing to the Kumasi Airport City project as a model for the future.
The minister assured investors of the government’s commitment to protecting investments and promoting further economic activity. He outlined several incentives, including tax waivers, tax holidays, the unrestricted repatriation of profits and dividends, and dedicated free zone areas for various sectors.
Dr. Amoakohene encouraged local investors—especially “sons of the soil”—to follow the example set by the developers involved in the airport city project. He positioned the Ashanti Region as the gateway to Ghana, and Ghana as the gateway to Africa, urging investors to choose the region as their preferred destination.
