Infrastructural development in Ghana is growing at a pace faster than ever witnessed in the history of the country.
There are various sectors and all are experiencing growth but there is room for new projects in these sectors. I will highlight a few with associated projects to present the opportunity available in these sectors.
1. Affordable Housing (Self served Communities)
2. Hotels and Hospitality
3. Small gated Communities
4. High end Commercial and retail space.
There is a huge housing deficit in the new growing middle class in Ghana’s economy. Young professionals looking to get onto the property ladder and attain some kind of housing and rent payment independence; look to own properties that range from about $80,000 to $120,000 .( Eighty to One Hundred and Twenty Thousand Dollars).
These communities are being pioneered by companies like Regimanuel Gray, Devtraco and Apollonia(Rendevour).
The deficit for these kind of small Two and Three bedroom houses are about 2 million properties in and around Accra according to the Ministry of Works and Housing.
These communities usually are self serving in that they have their own small shopping areas, Schools, community center or Play area, hospital, police station, and gym swimming pools etc. These small self serving communities are becoming very popular in Ghana.
They are usually built fully fenced and gated for extra safety and security in about 500-2000 properties on one site.
HOTELS AND HOSPITATLITY
Ghana noted for its safety amongst the West African states is an international business hub and transit point for many international airlines serving the west African region.
All the top class 4&5 star hotels by many international standards are way over priced and an affordably priced hotel is just what the hospitality industry in Ghana needs.
A hotel that offers good standards at a reasonable price will be a Jewel to own either in the Airport City or at any 15-20 minutes Drive from the Kotoka international Airport and Accra Central the business district.
High End Small Gated Communities
Small executive gated communities of High-end properties also are great for the best rental and sale value.
8 to 15 Three and Four bedroom Houses with good quality finishing in a gated enclave with self compounds are very desirable for both investment and residential purposes in Ghana and are always in short supply.
These properties are usually occupied by top management of multinational companies and there is not enough supply of such on the market.
These houses are rarely ever empty for too long if they are finished to the right standards. Most have individual swimming pools, Outside lounge and balcony area, home gyms, garages and can either be sold off plan or at completion. For rental options they return best value when furnished but are still very desirable unfurnished to.
They are best when kept very exclusive with not many properties(Not More then 15) in one Community. This concept can be replicated in many different locations as have been done by Wonda World, Imperial Homes, Denton and Taysec for commercial and private owners.
High End Commercial and retail Space
Demand for commercial retail and office space is high in Accra and is the most lucrative form of real estate development on the market at the moment.
Whilst finishing and ample parking space are the success keys for such developments, pricing is at a very high per square meter rate in Accra.
A realistic price per square meter office and retail property will also return high yields on investment as most of such developments are fully occupied and demand is on the rise as companies look to explore the Ghanaian market.
A ground floor retail space suitable for a supermarket and office space in the floors above is a good marketable concept. Eg. Marina mall.