Two Types of Real Estate Developers in Ghana

Ghana’s real estate development has increased in recent years, owing to a growing middle class, increased urbanisation, and the government’s commitment to improving the country’s housing sector.  Local developers and international developers are the two types of real estate developers in Ghana. Local developers are typically small to medium-sized businesses, whereas international developers are larger corporations with global reach.   Local Ghanaian Real Estate Developers Local real estate developers in Ghana have played an important role in the sector’s development. They have played an important role in providing affordable houses in Ghana, particularly for those with middle and lower incomes. Some of Ghana’s top local developers include:  

• Devtraco Limited 

Devtraco is one of Ghana’s oldest and most reputable real estate developers. The company has been in business for over 25 years and has earned a reputation for providing Ghanaians with high-quality, low-cost housing. Devtraco is best known for its flagship project, Tema’s Devtraco Courts, which includes over 500 homes.  

• Regimanuel Gray Limited

Regimanuel Gray is yet another prominent Ghanaian real estate developer. The company has been in business for over 25 years and has built over 7,000 estate houses for sale in Ghana. Regimanuel Gray is well-known for its high-end luxury properties, such as Regimanuel Estates in East Legon and the Regimanuel Pearl in Airport City.  

• Trasacco Estate Development 

Trasacco Estates Development Company Limited is a Ghanaian-owned real estate development firm that specialises in luxury properties and affordable housing for sale in Ghana. The company has a reputation for building high-quality homes in prime locations, such as Trasacco Valley in East Legon and Villaggio Primavera in Airport City.   Ghanaian International Real Estate Developers International real estate developers are increasingly entering the Ghanaian market, drawn by the country’s expanding economy and high demand for quality housing. Some of Ghana’s leading international real estate developers include:  

• Rendeavour

Rendeavour is a multinational real estate developer that specialises in the construction of new cities in emerging markets. The company has a presence in several African countries, including Ghana, where the Appolonia City project, a 2,325-acre mixed-use development in Accra, is being developed.  

• Eris Property Group 

Eris Property Group is a South African property developer that has recently entered the Ghanaian market. The East Legon Hills project is a 160-acre mixed-use development that will include residential, commercial, and retail properties.  

• Mabani Holdings 

Mabani Holdings is a Dubai-based real estate developer with operations in several African countries, including Ghana. The Appolonia Business Park project, a 200-acre commercial and industrial park in the Appolonia City development, is being developed by the company.   Explore top properties to invest comprising 1 to 4-bedroom houses with full-fledged amenities by a leading estate developer in Ghana.   Impact of Real Estate Developers on the Ghanaian Economy Over the years, real estate developers in Ghana have had a significant impact on the country’s economy. The following are some of the ways that real estate developers have helped the Ghanaian economy:  

• Job Creation

Real estate development, particularly in the construction sector, has been a significant source of job creation in Ghana. In Ghana, the construction sector employs more than 10% of the workforce, and real estate development contributes significantly to this figure. This has helped to reduce unemployment and boost economic growth in the country.  

• GDP Contribution

The real estate sector contributes significantly to Ghana’s GDP (GDP). The World Bank estimates that the real estate sector will account for 8% of Ghana’s GDP in 2020. This demonstrates the sector’s importance to the country’s overall economic growth.  

• Increased Tax Revenue

Real estate development has significantly increased Ghana’s tax revenue. When real estate developers construct properties, they must pay a variety of taxes, including property taxes, value added taxes (VAT), and other related taxes. This has contributed to an increase in government revenue, which can then be used to provide citizens with social amenities and other essential services.  

• Infrastructural Development

Real estate development has aided in the development of Ghana’s infrastructure. Developers frequently build roads, bridges, and other infrastructure in the areas where they build their properties. This has aided in the improvement of transportation and connectivity in the country, allowing people to move around more easily and access essential services.  

• Improved Standard of Living

 Real estate development has resulted in an improvement in Ghanaians’ standard of living. High-quality, low-cost housing has enabled more people to own homes, improving their living conditions. This has also resulted in a decrease in slum dwellings, which were once common in some areas.  

• Tourism and Hospitality

The development of real estate has aided the growth of Ghana’s tourism and hospitality industries. Hotels, resorts, and other tourist attractions are frequently built in areas with high tourism potential developers. This has helped to bring in more tourists, increasing revenue for the tourism industry and creating more job opportunities for Ghanaians.   Finally, the contribution of real estate developers to the Ghanaian economy cannot be overstated. Real estate development has been a significant source of job creation, GDP contribution, increased tax revenue, infrastructure development, improved living standards, and the expansion of the tourism and hospitality industries. To ensure that real estate development continues to contribute positively to the country’s economic growth and development, the government and other stakeholders should continue to support and encourage it.