Perennial, Shangri-La tie up for mixed-use project in Ghana

Singapore

PERENNIAL Real Estate Holdings is venturing into Africa through a joint venture (JV) with Shangri-La Asia to develop a 49,874 square metre (sqm) site in Ghana into a prime integrated mixed-use development.

It said on Friday that it will pay US$15.2 million for a 55 per cent stake in Skillplus Investments Ltd - the owner of the development site - from Seanoble Assets Ltd, a wholly owned subsidiary of Shangri-La Asia. Seanoble will continue to hold the remaining 45 per cent stake.