The Founder and CEO of Fantasy Dome, Leslie Quaynor, disclosed that he has yet to recover any of his investments from the venue since its establishment in 2018, now demolished.
During an interview on Daybreak Hitz with Andy Dosty on Tuesday, March 19, 2024, Mr Quaynor explained that since the inception of Fantasy Dome five years ago, it has faced operational challenges, primarily due to the impact of COVID-19 and other factors.
He further highlighted the terms of his lease agreement, noting that the Trade Fair Company was obligated to provide a six-month notice and alternative space within the Trade Fair for relocation.
“Just when I started business in 2019, COVID came the next year. So for the next 2 and half years, I couldn’t work. And then right after COVID, around 2021 and 2022, they said they were going to do redevelopment. Then they started digging holes, which didn’t make it a medium to do business.”
“So technically not only have I not worked, I haven’t even recouped any of my investments,” he added.
Mr Quaynor emphasized the exorbitant costs associated with relocating the dome, particularly due to the condition of the Trade Fair grounds.
Despite efforts to negotiate with CEO of Ghana Trade Fair Company Limited, Dr. Agnes Adu, for an alternative arrangement, Quaynor’s requests were unsuccessful, ultimately preventing Fantasy Dome from operating.
“They came back and said they are going to do re-rolling, so you have to move. But within the lease I had, they had to give me six months’ notice to relocate me within the trade fair for the balance of my term,” he said.
“The toughest part is that the trade fair is filled with clay so you would have to excavate all of it and fill it. And that alone was two million dollars,” he said.
“Unfortunately when she [Dr. Agnes Adu, CEO of Ghana Trade Fair Company Limited] came and said we would make space for you at the other side of the Trade Fair, I said to her, ‘Does that make sense? It’s only a year left to the end of my lease, you want me to spend 4 million dollars to do just a platform, for me to leave in a year,’ he added.