SuCasa Properties, a Ghanaian real estate company, has paid a courtesy call on the Minister of Works and Housing, Honourable Francis Asenso-Boakye. The purpose of the visit was to secure governmental support and partnership for SuCasa’s mission to provide affordable housing infrastructures for the middle class.
During the visit, Mr. Asenso-Boakye urged SuCasa Properties to extend its affordable housing projects beyond Accra and into other parts of the country. He emphasised, “I urge you to extend your project to the outskirt of Accra – to the other regions.”
Furthermore, the Minister disclosed that his Ministry is exploring a partnership arrangement where the developer can produce two-bedroom houses in the Nsawam area at a cap of US$30,000. The Ministry, he added, plans to absorb around 40 percent of the development cost through the provision of the government’s unencumbered lands.
SuCasa Properties Limited recently inaugurated Phase-one or the No.1 O’Grantson Communities at East Legon Hills in a bid to providing affordable housing units for Ghanaians. This project is a 2,000-housing unit development. The unveiling also served as the sod-cutting ceremony for phases two and three of the project.
Michael O’Grantson-Agyapong, CEO of SuCasa, led the team from SuCasa Properties and noted that the company already has plans to venture into other parts of the country and welcomes the Minister’s request. “SuCasa is already positioned for other regions in our own business forecast and projections,” he said.
SuCasa Real Estate Experience
Mr. O’Grantson-Agyapong also presented to the Minister, a new campaign by SuCasa dubbed: the “SuCasa Real Estate Experience”. He explained that the project would organize real estate conferences globally to expose real estate investment opportunities in Ghana for Foreign Direct Investment and Diaspora – Africa investment opportunity awareness creation. The maiden edition of the SuCasa Real Estate Experience will be held in Accra, Ghana, and it’s expected to be launched by the end of March.
“The global tour and expo would offer the diaspora community the opportunity to engage with and have at first-hand, information from property developers and the various offers they avail, without engaging with charlatans and all kinds of unscrupulous entities back home in Africa in their quest for home ownership,” he said.
“The SuCasa Real Estate Experience is poised to reposit and offer the clean slate and build the confidence and trust in our cherished diaspora community to look back home and invest judiciously and prudently with the right developers in a seamless manner,” he added.
Already, data from the World Bank reveals remittances to Sub-Saharan Africa grew by an estimated 5.2 percent to reach US$53 billion in 2022. Since this amount is around 10 percent of the region’s annual income, it can be estimated that their total annual income is around US$530 billion, which is higher than the highest single GDP of any country in Africa. For context, Nigeria currently holds the record with a GDP of US$514 billion. This suggests that investing the cash flow from the African diaspora community could significantly improve the continent’s economic fortunes.
The visit was also to show appreciation to the Honourable Minister for honouring SuCasa Properties’ invitation to be the Keynote Speaker at the Sod Cutting Ceremony of the No.1 O’Grantson Communities.
