Who Owns the Huge Abandoned Building at Labadi? The Story Behind La Beach Towers
- La Beach Towers was designed as a luxury residential development, with three tall towers overlooking the ocean in Accra
- The project has been linked to Cypress Investments Limited and the late Abuakwa North MP, J.B. Danquah-Adu
- Years after its planned completion, the unfinished building has attracted scrutiny, with the Engineering Council announcing an assessment
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For anyone travelling along the La beachfront in Accra, the huge unfinished concrete building is difficult to ignore. Rising above its surroundings, it offers few clues about the luxury lifestyle once planned for the site.
Source: UGC
Known as La Beach Towers, the development was intended to bring high-end apartments, landscaped gardens and sweeping ocean views to the capital’s coastline.
Instead, its exposed concrete frame has become a familiar landmark, leaving many wondering who was behind it and why construction never reached completion.
Who was behind La Beach Towers?
The project is associated with Cypress Investments Limited. Previous reporting by YEN.com.gh also identified the late Abuakwa North Member of Parliament, J.B. Danquah-Adu, as a co-owner.
At the sales launch in 2011, contemporary reports named Real Concepts as the developer and quoted its chief executive, Kwaku Asante-Boateng, explaining the vision for the beachfront homes.
These accounts identify companies and individuals involved in the original development, although they do not establish the property’s current legal ownership.
The ambition was considerable. Plans outlined a seven-acre gated residential community comprising three 17-storey towers, with 64 apartments in each.
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Residents were promised landscaped gardens, penthouses, sky villas and balconies overlooking the ocean, city or gardens.
Other advertised amenities included round-the-clock security, concierge services, backup electricity and water, broadband connectivity and parking for more than 300 vehicles.
The homes also came with substantial price tags. In October 2011, a four-bedroom apartment with a city view was advertised at $579,500, while an ocean-facing apartment on the seventeenth floor was priced at $634,400.
Those were launch-era prices, rather than current offers. Buyers were offered staged payments, while Ghana Home Loans was presented as a source of mortgage financing.
Why did construction stall?
The first tower was initially expected to be completed and furnished by August 2013. That deadline passed without the promised residential community becoming a reality.
Accounts of the project’s difficulties point to financing challenges. In a retrospective analysis, researcher Bright Simons described weak advance sales and difficulties securing the investment needed to sustain the development.
His account put the overall project’s capital cost at approximately $80 million. That figure describes the planned development’s cost, rather than independently verified expenditure on the structure visible today.
Reports differ on the precise suspension date, placing the halt in the middle of the 2010s. Danquah-Adu’s death in 2016 is also frequently mentioned in accounts of the unfinished project.
Its future has since become an engineering question as well as a financial one.
On March 30, 2026, Engineering Council registrar Isaac Badu said the council was assessing La Beach Towers after engaging its developers and consultants.
He explained that recommendations would follow the assessment. The announcement was not itself a declaration that the building was structurally unsafe.
For now, the tower remains a visible reminder of an ambitious beachfront housing project whose original promise has yet to materialise.
Security forces mobilised weeks ahead of demolition
Per an earlier YEN.com.gh report, police and military personnel had already been stationed at Laboma Beach more than a month before the operation, as the Greater Accra Regional Security Council finalised arrangements for the exercise.
The deployment formed part of a wider crackdown launched after the devastating June 29 floods, with officials framing the demolitions as a step to restore natural drainage and prevent further flooding rather than a punitive measure against beach traders.
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Source: YEN.com.gh
