Construction & Real Estate
From The Report: Ghana 2024
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Construction has been central to Ghana’s development over the past decade, contributing 7.2% of GDP between 2013 and 2021. Although infrastructure development dominates the sector, other segments are exhibiting strong growth potential, such as the commercial, industrial, residential and energy spaces. Ghana also has a sizeable untapped market for affordable homes and commercial buildings, which presents a substantial opportunity for investors and companies. Demand for retail and office space has kept the commercial property market busy, with residential properties being converted to commercial office or retail space. In addition, Ghana intends to utilise public-private partnerships to develop 250,000 housing units annually through to 2030.

This chapter contains an interview with John Entsuah, CEO, Devtraco Group.

Articles from this Chapter

Overview

Constructive initiatives: Infrastructure development recognised as an important driver of economic growth for the country
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Construction has been central to the country’s development over the past decade across several sectors of the economy, and notably, from 2013-21, the sector contributed an average of 7.2% to the country’s GDP. Although infrastructure dominates the construction landscape in Ghana, other segments are exhibiting strong growth potential, such as construction in the commercial, industrial, residential and energy spaces. As a result of the government’s focus on infrastructure development, domestic…

Analysis

Infrastructure boost: Partnerships between the public and private sector are crucial to ensuring secure, adequate and sustainable financing
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The government has been actively promoting and facilitating private sector participation in infrastructure delivery, crucial for economic growth and development through revenue generation, affordable housing and employment. The private sector has been providing expertise, innovation and efficiency, greatly enhancing the speed and quality of infrastructure projects within Ghana. Therefore, partnerships between the public and private sectors are crucial in ensuring secure, adequate and sustainable…

Analysis

Sustainable by design: Innovative practices contribute to carbon-neutral building
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As the construction industry redefines its priorities to ensure sustainability, there is increasing recognition of the benefits of regenerative architecture as a means of lowering emissions. According to the “2019 Global Status Report for Buildings and Construction” published by the International Energy Agency, the construction sector accounts for nearly 40% of global energy-related greenhouse gas emissions. In light of this reality, a greater emphasis has been placed on sustainable architecture. The…

Overview

Building developments: Government initiatives are helping to propel the development of affordable housing and attract foreign investment
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In recent years the greater activity and growth in the real estate sector has contributed to Ghana’s continued economic expansion. Private entities own more than 70% of properties in the local residential and commercial markets, according to the report “Construction Sector – Real Estate Development Report 2022” published by Ghana’s GCB Bank in September of that year. Demand for retail and office space has kept the commercial property market busy, with residential properties being converted…

Interview

Housing expansion: John Entsuah, CEO, Devtraco Group, on developing collaborative efforts to make homeownership more accessible
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Interview:John Entsuah What factors account for the growth in real estate and the challenges regarding land acquisition? JOHN ENTSUAH: The real estate sector’s growth is influenced by a combination of factors, and it is essential to address the challenges that hinder progress, particularly for middle-income earners. The aspirations of such individuals to own a home is driving sector growth, as this demographic seeks affordable and quality housing. In addition, urbanisation is a significant…

Analysis

Investment goals: Tax breaks and other programmes are being utilised to attract funding and encourage the construction of affordable housing
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With a housing deficit estimated to be 1.8m units, Ghana is looking to boost the number of residential premises by providing tax incentives to local and foreign investors to develop affordable housing. The country provides such breaksto attract foreign direct investment, and these offers include corporate income tax exemptions, tax holidays, the use of free zones, capital allowances and a guarantee against government expropriation of property. Incentives Ghana is offering a five-year tax…