Devtraco Limited Announces Launch of New Serviced Plots Offer.
5/13/2009 5:14:21 PM -
Devtraco Limited today launched its new fully serviced plots (Millenium Courts) offer as part of its Devtraco Courts Project. The current development, Devtraco Courts, near Community 25, Tema, promises low cost executive accommodation for those who like to appreciate finer living but without the hassle and expense that come with it.
As an introductory offer, Devtraco is offering the general public the opportunity to secure an exclusive right to own any one of their new 90 fully serviced plots with only a 25% deposit which then qualifies them for a full six month payment break with nothing to pay and no interest to pay.
In an interview with the Head of Corporate Affairs & Marketing for Devtraco Limited, Gloria Buckman Yankson, she stated that,
“Devtraco has come to understand that some people just prefer to build their own bespoke homes. However, according to the Bank of Ghana, although Ghana's housing market is underdeveloped, one critical factor that undermines 'own-building' in Ghana is the lack of a secure, transparent access to land title and the hassle of connecting one's property to utility supply.”
She added that, “…in a highly inflationary environment like Ghana, and in the wake of the negative growth in global funds, it makes sense for investors to move away from money markets to the goods market as a hedge against inflation. This is therefore Devtraco's way of giving something back to society and helping young and upcoming families secure their own properties in a prime and secure area like Devtraco Courts which is a fully gated community.”
As compared to current market rates for fully serviced plots, at $20,000 per plot size of 80 x 100 feet, this will certainly help first time home buyers put a foot on the property ladder.
Devtraco Courts has so far built and sold over 130 homes since the project started in 2007.
Founded in 1993, Devtraco, a member of GREDA, occupies third place in the share of the real estate housing market in Ghana and has over the years won several recognition awards, including the International Star Award for Quality (ISAQ), Geneva in 2008.
The company's current development, Devtraco Courts, near Community 25, Tema, is being implemented over a total land area of 205 acres and is estimated to be completed by 2015 with a projected 1,000 residential homes. Its main clientele are non-resident Ghanaians who in total occupy about 55% of the company's total client base.
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