Commercial Real Estate Investments in Africa: Focus on Ghana
As a leading private property development company, GREA Africa offers expert planning, design and development solutions for international companies, multinational enterprises and retail groups, wanting to increase their property portfolio and maximise their return on commercial real estate investments in Africa.
Project involvement in Ghana
GREA Africa, in partnership with Rendeavour commenced with the development of Adumuah Place in June 2021. It’s a three-storey state-of-the-art, A-grade commercial property that will offer both office and retail space to multinational firms. The property has a GLA of 1,996 sqm on a site covering 4,047 sqm, where 85 open parking spaces will also be offered.
Appolonia City will be the anchor tenant while retail groups wanting to meet the demand from shoppers and office workers with the likes of supermarkets, financial services and pharmacies, will take up space on the ground floor. It’s a prime example of the expertise and turn-key solutions offered for multinationals looking to expand their footprint on the continent. For investors, Adumuah Place is an example of the high-return value commercial real estate investments GREA offers across Africa. The property is located in Appolonia City, which offers excellent infrastructure and location within the greater Accra.
What makes Ghana attractive for future commercial real estate investments?
The small country is located on the north-western part of the African continent, boasting a location on the Atlantic Ocean. Neighbouring countries are Barkino Faso, Togo and Cote d’Ivoire, all three relatively stable countries. Ghana has made great strides in its quest towards democracy, proven by it featuring among the top countries promoting freedom of speech, as reported by the World Bank.
According to the report, Ghana experienced rapid economic growth in the period of 2017 to 2019, but the worldwide COVID-19 crisis left its mark on the economy with an estimated 0.5% increase in the population poverty rate. The country’s debt also increased during 2020, but the outlook remains positive as Ghana’s growth remained steady in the second quarter of 2021. The World Bank overview of investment context for Ghana reported the headline inflation to have increased from 7,8% in mid-2021 to 9,7% in August.
The country is set for a gradual economic recovery according to the report. Although investors have to consider the overall impact of the COVID-19 worldwide pandemic on the economy and buying power of the citizens, the country remains attractive for development of commercial real estate. It has a growing population, offers a stable political environment and extensive operations of the Multilateral Investment Guarantee Agency (MIGA) for guarantees to lending institutions and investors.
No fewer than four projects are currently insured by MIGA to support a sufficient supply of oil and gas, potable water, power provision and telecommunication services. The country is also a recipient of 3,6 billion USD worth in grants and credits from the World Bank for application in as many as 30 development and improvement projects.
With the positive outlook, the country’s working towards optimal democracy and extensive investments from the IMF, World Bank in Africa, and MIGA to ensure investments, therefore Ghana is worth considering for commercial real estate developments.
Reach out for property development solutions
Investors interested in developing properties and maximising the returns on their commercial property investments in the country are invited to reach out to GREA Africa for turnkey construction and commercial real estate property development solutions.