Fuelled by public infrastructure maintenance and expansion, private real estate development and individual residential construction, Ghana’s construction industry has been growing steadily, with sector output increasing by 91.8% between 2006 and 2010. With demand for individual family houses – particularly in the low-income bracket – on the rise and plans in place to develop a number of new cities in the Western Region, this trend looks set to continue. Additionally, with the rise of a middle class in the country, it seems the real estate sector – traditionally a very limited market – is beginning to pick up. The housing demand is high and there is a current annual supply gap of 30,000 residential units.
This chapter contains interviews with Stephen Jennings, CEO, Renaissance Group; and Emmanuel Botchwey, Executive Chairman, Regimanuel Gray.