Meet The Developers Shaping Ghana’s Real Estate. Part 1

Ghanas real estate

Ghanas real estateThe stability of Ghana’s democracy over the years has earned it the enviable title of “The Gateway to Africa”, a title which is gradually shifting to “Centre of the World” for business and other productive activities. This has made way for innovation, growth and advancement that sets the nation as one of the fastest growing economies in the world according to World Bank data.

Correspondingly, the influx of foreign nationals to do business, coupled with a growing and thriving middle class,  demands that Ghana have enough real estate clout to attract and sustain current as well as future demands.

Ghana’s real estate economy is largely run by big real estate developers who construct most of the residential and commercial properties for sale in Ghana, especially in the capital, they are supported by real estate agencies and agents who fill in where the top guns fall short.

Ghana’s Real Estate Developers

This is part 1 of a profile series highlighting major players who are shaping Ghana’s real estate industry. Some of the top ones (not exhaustive) are described below and in no particular order:

  1. Appolonia City

    The Oxford by real estate developer Appolonia City
    Appolonia City is a Rendeavour master planned site designed to suit your lifestyle whether it’s to live in one of their unique residential developments or to work within the neighbouring business park, you will be sure to find a serene and well-planned space dedicated to your lifestyle.

    Appolonia City is a 2,325-acre (941-hectare) mixed-use and mixed-income urban development in the Greater Accra Metropolitan area. The project is being developed for residential properties, retail and other commercial centres, as well as schools, health care and other social infrastructure. World-class infrastructure is currently being put in place which includes water, electricity, tarred roads with stormwater drains.

    They have residential sales underway with the option of purchasing a plot to do a self-build in Nova Ridge; a gated residential community which covers a total area of 90 acres. It offers fully serviced plots with clean land title to individuals who want to build homes to their preferred specifications, or acquire an existing house at  the Oxford development; a self – sustaining community which provides the comfort, happiness, and satisfaction of urban living. Appolonia has high-quality property maintenance and is governed by strict development controls and owners associations, to ensure residents and businesses live in harmony. They offer two types of payment plans, either you get a 2-year payment plan with no added interest or you get a mortgage with up to 10 years repayment period.

  2. Regimanuel Gray Limited

    Regimanuel Gray Eagles Place Sakumono
    Eagle’s Place by Regimanuel Gray Real Estate Developers

    Regimanuel Gray Limited has a reputation for providing reliable delivery of good quality housing in well-planned housing domiciles. In the last 23 years, they have become a leading private real estate company which has also invested in building material manufacturing, primarily in the production of concrete blocks and crushed aggregates.

    They have project sites in Katamanso, Balloon Gate – Kwabenya,  Meridian Gardens – Klagon, Eagles Place – Sakumono and East Airport (sold out). They have different property types ranging from semi-detached and detached house to apartments. The company has over the years acquired a great deal of expertise in turnkey project site development including roadwork, drainage, water and electrical distribution networks.

    Regimanuel Gray’s well-known hallmarks are the timely construction and delivery of high quality, reasonably priced housing units at prime locations which are adequately provided with social amenities and well-developed infrastructure. To date, it has delivered about 4,000 houses bearing these hallmarks. Their homes can primarily be found in Tema and Accra.

  3. Devtraco Limited

    Naa Borley by Devtraco Limited
    Naa Borley by Devtraco Limited

    Devtraco Limited is arguably one of Ghana’s leading real estate developer in the middle-income segment, offering a variety of properties ranging from affordable apartments to high-end homes. They have been in existence since 1993 and brag as the first and currently the only Ghanaian real estate company to receive the CNBC International Residential Property Award, UK-Africa region.

    They provide varied services such as real estate developments, building contractors, estate management services, rentals and sale of serviced plots. They are committed to providing quality housing solutions to their customers through their professional staff and state-of-the-art building technology.

    Their current project, Devtraco Courts, currently house over 1,000 residents. They plan to provide housing for an estimated 1,600 families within the next 2 years and this is being developed over an acquired land area of 205 acres. As the first ever Master Planned community of its kind in Ghana, the Devtraco Courts have, in addition to the clustered homes, a recreational area, a playground, a police station, a fire station, and a GoKart racetrack.

    Other amenities include a clubhouse, a shopping mall, a school, and a water park that are scheduled to be developed. This unique offer affords their clientele who run retail businesses the opportunity of living, working, shopping, educating their children, having access to police officers etc, all within their immediate community; thus eliminating much of the inconvenience associated with commuting from home to town for basic amenities, including traffic jams.

    Their properties span across emerging areas in Greater-Accra. The Devtraco residences include Greda Housing Project at Teshie-Nungua, Dovehill Estates at Spintex road, Devtraco Villas at Community 18, Tema and Devtraco Courts at Tema Community 25.

  4. Emerald Properties

    Sapphire Court by Emeral Properties
    Sapphire Court by Emeral Properties

    Emerald properties were founded in 2000 to take advantage of the growing housing market in Ghana. They have been developing luxury homes at affordable prices since 2001 in the most sought-after areas of Accra, Ghana. Emerald properties have completed five luxury developments to date in prime locations of Accra, and they are currently developing a gated community in PramPram for the low to mid-end of the market with several new developments in the pipeline.

    With a combined experience of 70 years, their team, backed by its core values of professionalism, fairness, reliability, care, aspiration and innovation is guaranteed to deliver your luxury home on time and to the highest possible standard. They have already developed five projects with three more upcoming. Their mission is to develop high-end properties that complement the lifestyle and aspirations of their buyers. Some of their current developments are Emerald Suites, Sapphire Court, and Sole Lagoon View.

    These impeccably styled residences have the urban executive lifestyle in mind. These well planned residential areas are where Ghana’s leading business executives, diplomats, government officials and expatriates choose to make their homes. Their properties are located in Cantonments and Prampram.

  5. Lakeside Estate

    Lakeside Estate
    Lakeside Estate

    Lakeside Estate is a leading company that specializes in the provision of quality housing and affordable housing units that are environmentally friendly and meet the aspirations of many Ghanaian home dwellers while giving shareholders value. Their homes cater for residential needs of young families and professional individuals. Lakeside Estate is presently developing its ultra-modern properties and their products range from 1 – 4 bedroom executive houses.

    They boast of an award-winning recreational facility known as Lakeside Marina Park (LMP). The Lakeside Marina Park is located on the lake Kalmoni, inside Lakeside Estates, between Madina and Adenta. The park is available for rental for functions such as garden parties, birthday parties, graduation and wedding reception among others.

    Lakeside Estate also offers different types of investment opportunities for many to join to satisfy the public’s need for housing and commerce. They have commercial & light industrial plots, Lakeside Business Centre, Technical school, fuel station, mini-mall, recreational amusement park and the Lakeside Fitness Centre.

  6. Clifton Homes

    Kai Villas
    Kai Villas by Clifton Homes

    Clifton Homes presents buyers with the opportunity to own a stylish, high quality home in a central location, at competitive prices. You can make a 10% down payment which makes the investment even more affordable. One noticeable trait with Clifton Homes is their attention to detail, whether this is in relation to client communications, managing construction costs, or interior fittings and finishing.

    This has led to a track record of sell-out developments, market-leading asset growth, rental yields, and an impressive record of repeat buyers and referrals. They have launched 7 projects in Accra since January 2011, 6 of which (comprising over 370 units) are complete and occupied, with the 7th completing in 2018. Their residences can be located in Shiashie and Cantonments.

    One of their projects is the Embassy Gardens, located in the heart of Accra’s distinguished diplomatic district, just 500m from the US Embassy in Cantonments.  Clifton Homes’ impeccably finished Suites, Apartments and Duplexes start from only$80,950 and will be complete in 2018.

  7. Whitewall Properties

    Maple Court by Whitewall Properties
    Maple Court by Whitewall Properties

    Whitewall properties is a Ghanaian company that develops premium townhomes and apartments for the middle and high-end market, thus they strive to develop world-class homes in prime locations such as Airport Residential area, Cantonments, North Ridge, Dzorwulu, Abelemkpe, North Legon and East Legon.

    Their target market is the upwardly mobile and aspirational customers as well as buy to let investors seeking safe and high yielding returns on investments. These include professionals working in selected high profile industries such as the petroleum and oil exploration, telecommunication, financial services, etc and successful entrepreneurs working in and outside of Ghana.

    Whitewall Properties, therefore, provides stunning-welcoming homes with unparalleled finishing quality in all their developments. They currently have 5 ongoing projects in their portfolio. The developments according to them will be purely residential and feature varying mixes of townhouses, 3-bedroom, 2-bedroom apartments, 1-bedroom apartments and penthouses, in addition to detached and semi-detached units.

    They are currently working on two projects called Pine Court and Hazel Court. Pine Court is an exquisite 25-unit high rise apartment located in Cantonments (about a 3 minutes drive from the American Embassy). Its simplicity in design with classy features makes Pine Court a standout development among its peers. It provides the perfect options for buy-to-let investors as well as buy to live investors. Construction work commenced in February 2018 and expected to be completed by December 2019.

    Hazel Court, on the other hand, is another quality development by Whitewall Properties located in the heart of East Legon and consisting of three luxurious housing units. This beautiful project offers luxurious 3 bedroom houses which include kitchens fitted with appliances such as refrigerators, washing machines, ovens, extractors, stoves and microwaves with all bedrooms designed en-suite together with wardrobes. For the upwardly mobile middle-level executives, Hazel Court presents the ideal residential destination of choice.

  8. Montgomery Residences

    montgomery residences
    Montgomery Residences within Silicon Accra Technology City

    Montgomery residences are committed to raising standards of living through purposeful design. With state-of-the-art infrastructure, paved roads, central standby power plant, fibre optic network delivering high-speed internet to every home among others, Montgomery residences’ urban design developments take a holistic look at enhancing the quality and way of life of their residents.

    They are located within Silicon Accra Technology City, East Legon Hills. This is an up-and-coming urban neighbourhood located 3 km from British International School. Their residences are located in a gated community which offers peace of mind, security and well-being. The community is fitted with CCTV cameras, 24-hour security and backup utilities. They have varying house types namely Amber Terrace, Jasper Terrace, Topaz, Sapphire and Emerald.

  9. Swami India Ghana Limited

    Paradise Estate by real estate developer Swami India at East Legon Hills
    Paradise Estate by Swami India Ghana Ltd.

    Swami India prides themselves on being specialists in development, land sales, design and build, general building, renovations and refurbishments. Their main objective is to be a formidable company that can provide world-class housing and properties in Ghana.

    They offer a wide portfolio of international quality products that cater to different markets and segments. Swami India has built a team of professionals who have specialized in different aspects of design and construction. Each individual brings a set of skills and innovative ideas to the table when it comes to exceeding our clients’ expectations. Swami India has a variety of real estate developments in Ghana to satisfy the needs of their clients whether it is fast-paced or relaxed, adventurous or spiritual.

    They give you the opportunity to live your dream life while staying in your dream home.  Their current development is the Paradise Estate, located in East Legon Hills, Katamanso, spread over a dozen acres of lush green parks and gardens.

  10. Denya Developers

    The Denya at Ringway

    Denya developers opened their shop in Accra in 2014 and are close to selling out their first development: a ten-storey building with 49 homes called The Denya, located in Ringway Estates.  As a member of the Pragnya Group of Companies, they have over 15 years of real estate investing and developing under their belt. In total, they have delivered or currently have under construction 1.4 million square metres across ten properties, 170 acres and eight different cities – an area equivalent to 70 Accra Malls.

    According to Denya, they chose to come to Ghana because they perceived a disconnect between the quality and price of properties. Thus, given their years in the industry and in-house expertise, they seek to be able to meaningfully change the equation and offer a considerably higher level of quality for the same, if not lower, prices.

    They distinguish themselves from others in regard to their exceptional design; which is demonstrated in any of their homes you walk into, their material difference; evident in their experience in building over 45 residential high rises, and their expertise; shown in the strength of their team and the skills they demonstrate through the end result of their works. They currently have properties located in East Legon and Ringway.

Conclusion

This real estate industry has the capacity to provide more than just the housing needs of people. It has the capacity to demonstrate leadership as the solution provider in finding answers to the biggest challenge of our generation – climate change. According to a recent World Economic Forum Report, the real estate sector consumes over 40% of global energy annually.

In the quest for healthy, affordable and sustainable communities, real estate developers have an increasingly important role to play by championing sustainability and promoting smart solutions for building properties that are environmentally friendly.

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