Business News of Fri, 15 Dec 20171
Ghana Real Estate sector to attract more investors
Aggressive government policies and steadily improving macroeconomic fundamentals are likely to boost confidence and attract investors into the Ghanaian real estate market.
Mr Tony Sekyere, Broll Ghana’s Head of Property Management, said factors such as a lower inflation rate, the relative stability of the cedi against major currencies and an improvement in Ghana’s GDP growth, are helping the property market to emerge from a recessionary dip.
Mr Sekyere made these comments whiles moderating a panel discussion on the topic: “Ghana Resurgence: Aggressive Government Policy and Improving Demand Putting Ghana Back in the Limelight. Is it time to Invest?” at the just ended West African Property Summit (WAPI) held on 28 & 29 November in Lagos, Nigeria.
“The outlook for developers and investors may include a slight uptick in transaction activity in 2018 if the growth trend in Ghana remains on track,” Mr Sekyere said.
“The future for further retail investment lies in Regional Centres,” commented Jonathan Lötter, Broll Ghana’s Head of Retail Management and a panelist at the conference.
Mr Lotter cited the success of the recently opened Kumasi City Mall as an example of the opportunities presented by Regional Retail Centres.
“Increasing foot counts and new product ranges entering the market are an indication of a recovering market and provide further evidence of a resurgence of the retail sector”, Lotter said.
Providing an insight to investor sentiment and the appetite for further investment into the real-estate sector, another panelist, Edmund Asamoah, the Managing Director of A & C Development Ltd, surmised that his company sees a positive outlook in the sector and plan to establish similar Community Malls.
Mr Asamoah said: “Given the continuing preference for convenience shopping and ‘entertainment’ within Community Malls, A & C would be looking to expand into similar neighbourhoods of high density but quality shoppers.”
Broll Ghana Limited, a platinum sponsor of the prestigious annual WAPI conference, is a leading property services company in Ghana providing wide-ranging services in the real estate sector including property & facilities management, retail management & brokerage, commercial and residential brokerage, in addition to valuation and corporate real estate services.