Mrs. Esther Ofori, Chief Executive Officer (CEO) of the Ghana Trade Fair Company on Thursday said work on the new multi-purpose International Trade Fair Centre would begin by January 2008 when negotiations would be completed.

As a result, occupiers of the trade fair site had been asked to vacate the site by December 31 for the demolishing of the existing structures to start.

Mrs. Ofori who was addressing a meeting between the tenants of the trade fair site and the executive members of the company in Accra said the company was negotiating with a strategic investor and that a deal was close to be clinched.

She said the new master plan, which was intended to facelift the Centre to match others across the globe, would be completed between 24 to 30 months.

Mrs. Ofori stressed that to ensure the smooth implementation of the master plan, the company served the tenants a notice to terminate their old tenancy agreement and renewed them on yearly basis, adding, "those who were given lease for some years were all abrogated and renewed".

"To avoid complications and other technicalities, the tenants were advised not to put up or undertake any major developments involving huge financial resources to facilitate easy demolishing as and when the company is ready", she added.

The CEO pointed out that the new plan had taken into account, the occupancy of present tenants who would be made to reapply for consideration before other applicants were invited.

Mrs. Ofori indicated that the new development was in order because pieces of land at the site were given to companies to develop temporary structures to facilitate business because the original plan had not been able to be implemented due to changes in government coupled with lack of funds.

She said companies and individuals who were allocated places were asked to raise structures which did not require huge financial investment to enable them to give way, once the master plan was ready for the reconstruction of the fair.

"Exhibition grounds are not permanent, individuals and companies only rent places and move out after the exhibition but unfortunately most people developed magnificent edifices and are not comfortable to leave, in fact, they took us for granted but now they have to move", she added.

Mrs. Ofori stated that one of the clauses in the legal instrument that established the Trade Fair Company indicated that facilities constructed at the site were not removed after seven days became the property of the Company.

"Structures such as the NAYAK building, Association Ghana Industry (AGI), Unilever were all built by other companies but they have lost their claim to the facility and has become the property of the Trade Fair Company till date", she added.

Mrs. Ofori discounted allegations that the site had been sold out at a cost of 85 million dollars, saying, it was completely false since the government did not own the trade fair land because the compensation issues were not resolved with the custodians.

"Government is now working out modalities for the payment of compensation to the owners of the land to ensure unimpeded development of the site,” she said.

Source: GNA