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Business News Wed, 7 Oct 2015

The first gated community in Kumasi

Prabon Greenfields is a community of modern, environmentally friendly homes located on the Kumasi lake road in the Ashanti Region.

Kumasi’s first large-scale gated community of 500 detached houses will contain amenities built to international standards such as underground electricity and communication cables, a central sewage system etc…

About Prabon-Greenfields

Prabon-Greenfields is a joint venture between His Majesty the Asantehene, Otumfuo Osei Tutu II and Vital Capital, a renowned international impact-investing fund. Prabon Greenfields is adhering to the sustainable community concept and emphasizing the properties’ interaction with the environment. Otumfuo Osei Tutu II, King of the Ashanti, aspires to provide Ashantis with real estate options, boost the image of the region, and attract Ghanaians from other parts of the country.

The Property Market in Kumasi

As a new development, the Prabon-Greenfields project is cultivating local trust by building 50 houses to demonstrate its level of commitment to the project.

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“Sales have started, but it’s just that they are not at the volume that we hoped they would be and that is because we are a company which is only now starting.

We are very confident that sales will improve, especially among expatriate Ghanaians and Ghanaians who like and appreciate the high international levels that we have achieved in Prabon-Greenfields.

In addition, we are aware of the economic situation in Ghana, thus we are willing to offer different payment plans in order to help our costumers” said Mr. Eli Dubnov, CFO.

Why Kumasi?

Prabon Greenfields believe many real estate companies emphasize Accra’s property sector too heavily, particularly at the highest ends of the market. Kumasi is an emerging market with a lot of prospects that many developers fail to recognize.

The company has no properties in Accra, and Prabon is their first in Ghana. Nonetheless, they are not ruling out the possibility of creating similar developments in other parts of the country.

Source: Prabon Greenfields
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