Ghana is the new hotbed for real estate developers. The CEO of GREA Africa, Greg Pearson recently discussed why the country is such an attractive property investment destination. In the www.citibusinessnews.com press article titled “Ghana’s real estate industry can recover despite the impact of COVID-19”, he discusses factors that contribute to the return of investments in the property sector after the initial hit the industry took as the result of the economic after-turn due to COVID-19 regulations. Read the article here to gain valuable insights as to why Ghana’s property investment sector is geared for recovery.
But what makes Ghana an attractive destination for developers in Africa? Read on to discover the answer.
Opportunities are rife, especially in the Accra region, with numerous areas already zoned for commercial and industrial usage, of which several have not been rented or bought yet. The country also has a shortage of housing, both on the lower income and the high-end spectrum. In addition, high-end accommodation needs must be addressed.
In terms of commercial, retail and industrial development investments, the range of opportunities includes refurbishing existing properties to transform the structures into modern properties suitable to rent out for retail, warehouses or factory shells and offices as well as bespoke new developments. View an example of one of GREA Africa’s A-grade commercial development projects in Ghana.
Foreign investment and development opportunities also exist in the creation of healthcare facilities and student accommodation across the country.
Reasons why real estate developers in Africa consider the country to be a largely untapped opportunity include incentives such as tax rebates for manufacturing industries operating in the regional capitals and low corporate tax for listed companies, among others.
It’s also a safe investment destination as the Ghana Constitution has several clauses to protect property investors, making it one of the investment safe-havens in Africa. The country is one of the Multilateral Investment Guarantee Agency (MIGA) convention signatories, giving investors peace of mind in terms of commercial risk insurance. Furthermore, investors don’t have to deal with double taxation issues if from countries such as Germany, France, UK, and Italy.
Construction materials in the country are available at relatively competitive prices, making it possible to develop projects at a lower cost than in many other countries. Leaseholds for up to 50 years are guaranteed for foreign investors in the sub-real estate sector. Much effort goes into creating an investment-friendly environment to attract developers, including investment-friendly government policies along with special benefits for foreign investments in local businesses, while ongoing changes towards privatisation have made 100% foreign ownership of entities possible.
Add to the already mentioned positives, Ghana’s political stability and its market accessibility to ECOWAS country members, and it becomes clear why it’s trending on the investment radar of real estate developers. In addition, the country has a well-developed physical infrastructure, superb safety profile and vast portions of land available.
We invite qualifying investors who want direct participation in development opportunities in Ghana’s property market to make use of our services. GREA Africa specialises in the provision of turnkey real estate construction solutions for retailers and corporates, wanting to develop operations in selected countries. Connect with us at +230 260 0524 or send us an email at firstname.lastname@example.org for more information on how your firm can benefit from our services.