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As Ghana’s economy demonstrates resilience and consistent growth, the real estate market is transforming, particularly in the vicinity of Kotoka International Airport (KIA) in Accra, Youssef Aitour, Co-Founder and Managing Director i2 Development Ghana, has said.
This area, he noted, was emerging as a prime location for both local and international investors looking to capitalise on off-plan properties such as the Prestige project, strategically located in the enclave of Kotoka International Airport.
Speaking in an interview with The Ghanaian Times in Accra yesterday Mr Aitour said Ghana had solidified its position as one of West Africa’s most stable economies, attracting foreign direct investment and a growing expatriate community despite the impact of the pandemic.
Prestige, a $600-million real estate property, that seeks to transform the Accra skyline, is to be constructed at the Airport enclave.
The project, which would also help to beautify the skyline of the Airport City, has facilities such as residential apartments, malls, shops, gym, and playing facilities for children.
The facility, being developed by i2 Developers Ghana Limited and other partners, would be completed within the next three years.
The International Monetary Fund forecasts that Ghana’s economy will grow by 3 per cent this year and that the end-of-year inflation rate will be 19.5 per cent.
This growth is propelled by increasing urbanisation and a rising middle class, translating into a heightened demand for housing.
The National Housing Policy estimates Ghana’s housing deficit at over 1.8 million units. Government initiatives aimed at boosting affordable housing, alongside private sector developments, have spurred construction activities throughout the country.
To this end, Mr Aitour indicated that investors were particularly focusing on markets where supply could not meet rising demand.
“The Phase II of the Prestige project offers a beacon of modern living and convenience, drawing interest from those keen on a lifestyle that merges comfort with accessibility. With Phase I progressing promptly, Phase II dubbed: ‘La Casa Grande,’ is now open for sale, and it promises to build upon the success of its predecessor,” he explained.
Building on the momentum of phase one, he said, the phase two of the Prestige project introduced La Casa Grande, a new chapter that further enhances the appeal of this coveted property.
Designed with modern living in mind, La Casa Grande, he outlined, would offer residents an unparalleled lifestyle experience that combines luxury and functionality.
“La Casa Grande encompasses an elegantly designed array of apartments in various configurations that cater to different lifestyles and preferences. Whether you’re a professional seeking a contemporary living space or a family searching for room to grow, this phase has something to offer everyone. Each unit is crafted with high-quality finishes, providing aesthetic appeal and the comfort that today’s homeowners demand,” he emphasised.
It would be recalled that Mr Francis Asenso-Boakye, the then Minister of Works and Housing, Speaking at the launch in Accra on Wednesday, expressed delight about the project.
He said not only would the project add to beautifying the skyline of Accra, but also help to create jobs for the teeming unemployed youth.
BY KINGSLEY ASARE
