Real Estate Developers from Dubai in Ghana to explore investment opportunities in Ghana’s housing sector have been urged to focus on houses for the middle to lower income earners in an attempt to reach a wider market as well as to recoup the return on their investments.
Executive Secretary of the Ghana Real Estate Developers Association (GREDA), Sammy Amegayibor was of the view that Ghana’s housing challenges are most prevalent among individuals in the middle and lower income bracket.
“Dubai realtors are much interested in the luxury housing market but the truth of the matter is that the housing deficit demand is not in the luxury project market but rather the middle to lower income housing sector,” he said.
Mr. Sammy Amegayibor said that President Nana Akufo-Addo in a recent meeting with executives of GREDA tasked the association to as a matter of urgency deliver a minimum of 20,000 affording housing unit.
He further urged real estate Investors in Dubai to take advantage of the market need to grow their business.
Speaking at the Round table on Real Estate Potential in Ghana and Dubai, organised by the Dubai Chamber International Office, Mr. Amegayibor called on investors to also consider setting up a housing supply chain companies in the country to ease the challenges involved in the imports of raw materials for the buildings.
On his part, the Head of the Dubai Chamber International Office, Cyril Darkwa called on investors to take advantage of the growing opportunities in the country.
He added that the real estate industry in the country has the potential to not only create jobs, but improve certain aspects of the economy.
He also lauded the significant achievements of the Dubai International Chamber in bringing expatriates businesses in the country to aid in the country’s developmental agenda.