Good Morning. Thanks for joining us on Property Express Video News
Coming up
TheAfricanvestor asserts that 2024 presents a prime opportunity for property investment in Ghana.
Ghana Honours Nigerian Real Estate Entrepreneurs with Prestigious Awards
Tiger Group Leads the Real Estate Dream in Dubai
TheAfricanvestor asserts that 2024 presents a prime opportunity for property investment in Ghana.
The combination of strong economic growth, population wealth, high rental yields, anticipated inflation, favourable currency rates, and a stable business environment positions Ghana as an attractive market for potential investors.
The IMF projects a positive economic growth of 2.9% in 2024, indicating a strong and stable economy that fosters potential demand for housing.
Ghana’s exceptional rental yields, ranging from 19.3% to 22.0%, according to Numbeo, make it an attractive destination for investors seeking substantial returns on investment.
While inflation can drive up property values, Ghana’s stable business environment provides a foundation for long-term investments.
Foreign investors are advised on the devaluation of the Ghanaian Cedi, making properties more affordable.
The Ministry of Works and Housing is gearing up to sell its low-cost houses in Tamale to willing buyers, aligning with the Government of Ghana’s policy to dispose of such affordable housing.
In a letter dated November 8, 2023, the ministry formally requested the reevaluation of these properties from the Land Valuation Division of the Lands Commission. Francis Asenso-Boakye, the Minister for Works and Housing, is overseeing this initiative.
However, concerns have been raised, suggesting that these property sales may favour individuals associated with the government.
Speculation surrounds the potential for only those aligned with the government to benefit from these sales.
In a related development, President Akufo-Addo has recently justified the decision to involve private investors in the Saglemi housing project.
The president emphasised that continuing the Saglemi project under government management would be financially burdensome, stating that the government had already spent $198 million on the project, which remains largely unused.
The Saglemi Housing project, with a planned delivery of 5,000 housing units, commenced in 2012, but only 1,506 units have been initiated, and the project is currently abandoned.
Mr. Toba Subair, the managing partner, and Olabode Odunlami, the Managing Director of iTech Homes and Properties, a Nigerian real estate company, have received honorary doctorate degrees in Real Estate Management from the Chartered Institute of Public Resources Management and Politics in Ghana.
Mr. Subair was acknowledged for his strategic vision and commitment to excellence, which significantly contributed to the success of the company, earning him admiration within the real estate sector.
Additionally, Mr. Odunlami’s contributions through iTech Homes and Properties have made a lasting impact on Nigeria’s real estate market.
The Chartered Institute of Public Resources Management and Politics in Ghana is known for its commitment to recognizing excellence and meticulously selecting these individuals for their exceptional achievements and influence in the realm of Real Estate Management.
On the international front
The United Arab Emirates (UAE) has emerged as the unrivalled property capital of the world.
A dynamic blend of visionary urban planning, architectural marvels, and an investor-friendly environment has propelled the UAE to the forefront of the international real estate stage.
The UAE is home to some of the world’s most iconic skyscrapers and architectural wonders, with Dubai and Abu Dhabi leading the way.
The Burj Khalifa, the world’s tallest building, symbolises Dubai’s commitment to pushing the boundaries of design and engineering.
The UAE’s dedication to creating visually stunning landmarks, such as the Burj Al Arab and the Etihad Towers, has captured the world’s imagination and solidified the country’s reputation as a trendsetter in innovative architecture.
Real estate developers have played a pivotal role in the remarkable success story of the United Arab Emirates (UAE), contributing significantly to the nation’s economic prosperity and urban development. Tiger Group stands out as a leading market force among these key players.
.jpg)
