5 posts tagged real estate
5 posts tagged real estate
When Judith Ineku solicited sh4m from her family members in 2006 to pursue her dream of venturing into real estate business, little did she know that six years down the road, her enterprise would propel her to great heights.
Ineku, 26, emerged among the five finalist female entrepreneurs vying for the prestigious 2012 Empretec Women in Business Award (E-WBA) organised by the United Nations Conference on Trade and Development (UNCTAD).
The conference was aimed at rewarding inspirational entrepreneurs across the globe especially those whose works have helped improve the lives of communities they operate from. Ineku submitted a project detailing a captivating chronology of her real estate business journey that has seen her establish IJB Real Estate, a firm dealing in constructing low-cost housing units.
”I conceived this business idea with meagre resources, but with a strong conviction that it would one day turn into a heavily capitalized venture. What amazes me, however, is that the rate at which the investment grows is beyond my expectations,” she says.
The young entrepreneur’s company now has housing units in Seguku on Entebbe Road and a range of commercial units around the same area. Her ventures provide full and part-time employment opportunities to the youth living in the area.
Across Africa there are towns experiencing rapid development, largely off the back of newfound resources such as minerals, crude oil and natural gas. To produce this list of African boom towns How we made it in Africa sought the insight of Brett Abrahamse, a director at Johannesburg-based real estate consultancy Terrace Africa. Abrahamse says that the towns below offer attractive opportunities from a property development perspective – especially for hotel and retail developments. While the challenges and expenses of working in Africa’s more remote locations may eat away at profit margins, these towns should be on the radar of investors and developers looking for a first-mover advantage. (via Five African ‘boom towns’ that should be on every investor’s radar)
Amazingly for a country which is the world’s second largest producer of cocoa, the services sector now accounts for the bulk of gross domestic product with a 51.4 percent share last year.
Godwin Arku, assistant professor of geography at the University of Western Ontario, has plotted the rise of Ghana’s gated communities since the early 2000s and links much of the growth to the emergence of a well-paid professional class, particularly in banking.
“Most of them are educated university graduates and some of them have been to school abroad,” Arku said. “Their overall lifestyle is different and they have access to technology, cars, and houses.”
The Ghana Real Estate Developers Association estimates there are least 24 housing estates in development in Accra and the Greater Accra region, of which Tema is part, ranging from 400-house estates to smaller projects of 12-20 houses.
While some are snapped up as investments by non-resident Ghanaians, developers say they want to attract a middle-class buyer with two-bedroom houses on sale for as little as $35,000.