What’s The Appeal of the Top Floor?
Are penthouses and top floors the real estate equivalent of sports cars like Bugattis?…
One of the most promising projects in Accra sits on over a 1000 acre of land. Fortune City in Weija is dedicated to the total satisfaction of homeowners. The development is being constructed by the real estate arm of Sunda International. With its headquarters in Guangzhou in China, Sunda has about four other companies with its real estate arm being touted by sector experts as one of the best in the country.
With a wide range of amenities to woo prospective property owners, the gated community provides paved roads and sidewalks, solar-panelled streetlight, hospital facilities, clubhouse, tennis court, swimming pool and a gym.
Fortune City’s Diamond Villa is currently being constructed with the clientele of senior-level managers, business owners, expatriates and government officials in mind. In all, Fortune City is constructing 2000 houses in five phases and according to Sales and Marketing Executive of Fortune City, the four upcoming projects will target a different clientele. “We are the city looking at serving the whole market. We have started the first phase looking at the elite in the society. The other phase will also look at young graduates and other people searching for affordable properties in the society.”
The Diamond Villa which consists of 97 properties consists of two storeys with three and four bedrooms. These houses have main and living areas, dining halls, balconies and garages. Every homeowner has its unique taste and style, with Fortune City provides its clients with the opportunity to design their own homes. “We give homeowners the right to customize their home interiors to suit their taste and preference. As a key hallmark, Fortune City seeks to create an elegant landscape that assures our customers’ close interaction with nature for their maximum relaxation. The beauty of our tropical trees and flowers amidst the lavish style gardens, fountains and artificial water bodies makes the city homey,” says Nyarko.
One factor which determines the price of a property is its placement. Location is very important that is the reason Fortune City is strategically positioned some kilometres away from human traffic, vehicular congestion, noise, waste and air pollution within the city centre. The introduction of the George Walker Bush Highway provides convenience and faster access to various places of importance and interest; 20 minutes from the Accra Mall and 25 minutes from the Airport and a minute drive from the biggest mall in West Africa, the West Hills mall.
The first construction phase, like most developments in Ghana, is facing a number of challenges:
Registering the parcel of land with the Lands’ Commission took longer than usual, the power crisis has slowed down the construction period and production cost and the cedi-dollar rate. “The prices of most properties and mortgages are priced in US Dollars and the rate is not stable, that is a major challenge for prospective home-buyers,” Nyarko added.
Another challenge for most developers and for which Fortune City is not an exception is the introduction of the real estate tax. The new 5% charge took effect in October, but the Marketing Executive of Fortune City believes its implementation should have been stalled because of the effect it will have on consumers. “Looking at tax – it is an indirect charge that we need to push the customer. The government should not have introduced this tax now because it is a kind of disincentive for us developers and potential homeowners,” he has observed.
Owning a property at Fortune City is very easy. With their three payment options: outright, instalments and mortgages, anyone can just walk into their office and choose their house type. After making the payment, the property document and key to the property are delivered to the buyer.
See below for photos of Fortune City’s Diamond Villa.