Business News of 2014-01-23

Whitewall Properties to deliver Maple Court in May

Construction works on an 18-unit upscale residential facility, expected to be a game-changer in the real-estate market is set to be completed in May this year.

The project, Maple Court, is being developed by Whitewall Properties -- an indigenous real-estate company founded in 2012 -- to cater for the housing needs of high-end customers.

The Marketing Manager of Whitewall Properties, Kwesi Anderson, said the construction work on Maple Court -- located in East Legon in Accra -- is well on schedule a year after it was launched.

The development, he said, has enhanced credibility of the developers among home owners.

“The project began in May 2013, and is on pace to be the first by a real-estate developer in Ghana to deliver way ahead of time. Moreover, more than half of the home owners who are delighted with the scale of work at Maple Court have already made reservations in advance for our upcoming developments in Cantonments and East Legon,” he said.

Maple Court is comprised of 12 apartments and six townhouses with top-line interior finishing and an exterior of lush greenery.

The offering includes 2,664 square metres of residential space, or an average of 153 square metres per unit. Similar to all Whitewall developments, Maple Court is equipped with great amenities and services which include a playground, gym, swimming pool, free parking, 24/7 security, and backup utilities.

The Property’s location provides its residents convenient access to a large concentration of offices, retail stores, entertainment, fine dining, and healthcare complexes.

The quality and location of Maple Court is forecasted to return a rental yield of about 11% to buy-to-let property investors, offering an investment opportunity to investors seeking to cash-in on the property market boom in the country.

Mr. Anderson said investors need to focus more on the potential rental yield income than the capital gains sales price when making a purchase decision.

“Maple Court’s low price per square metre and high rental yields (10% - 12%) gives investors’ great value,” he said.

Source: Whitewall Properties
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