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Mon, 20 Nov 2023 Business & Finance

Prestige project promises more returns as FDI inflow increases

Prestige project promises more returns as FDI inflow increases
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The real estate sector has become one of the main investment destinations for private capital in Ghana. It offers good and steady income in an increasingly urbanized country where demand for high-end and middle-level accommodation in the capital city, Accra, remains high.

The Ghana Real Estate Developers Association (GREDA) projects up to a 25 percent per annum rental yield on general real estate investment. Investing in The Prestige project, to be sited within the Kotoka International Airport City 1, offers one of the best Returns on Investment (ROI).

With a steady Foreign Direct Investment (FDI) inflow, the demand for world-class residential accommodation closer to amenities such as the Kotoka International Airport, hospitals, top-of-the-range restaurants, shopping centers, and recreational areas for expatriates and business leaders remains high. The Ghana Investment Promotions Center (GIPC) data shows that in 2022 the Country recorded foreign direct investment (FDI) totaling US$1.35 billion. The main beneficiary sectors were services, manufacturing, general trading, export trading, oil and gas, agriculture, and building & construction.

The stability of the country's political environment and its relatively high returns on investment make it an attractive destination for real estate investors. According to i2 Development’s Founder and Chairman, Nabil Al-Ahmad, in a highly sought-after neighbourhood such as Airport City I, an investment in The Prestige project’s studios and 1-bedroom apartments, starting from 28 sqm to 77 sqm, can fetch owners between $150 and $200 per day.

During peak seasons such as summer and December, the price per day can range from $200 - $300 per night. At an estimated minimum occupancy rate of 65 percent per year, that will generate about US$50,000 to 65,000 in rental income.

With the level of interior sophistication expected when The Prestige is completed, The Prestige’s studio and 1-bedroom apartments offer the best entry into investing in real estate for young business executives with a penchant for sophistication in a truly up-market location.

In this new development, everything is a minute within reach in a traffic-prone city like Accra.

For frequent business travelers to Ghana who regularly require a home-style hotel apartment for short stays, The Prestige’s one-bedroom, two bedrooms, and penthouses present the best option for luxurious living and meeting up with like-minded business executives. The rental yield for these tailored bedrooms is much higher.

The digitization of real estate processes is gaining momentum in Ghana. Online property listing platforms, mobile applications, and digital property management systems are improving transparency, efficiency, and access to real estate information. This trend fosters growth and facilitates transactions within the sector.

All Within reach
The Prestige project’s location, adjacent to the Airport Shell Fuel Station and directly opposite the Marina Mall within the Airport City enclave, means all the best Accra has to offer leisure and business travelers are all a minute away. From famed shopping Malls, restaurants, nightclubs, offices of major international companies operating in Ghana, and of course, the Kotoka International Airport are all within reach—in 60 seconds. The project is expected to cater to the ultimate luxury living whether one opts for a studio, one or two-bedroom, or a penthouse.

The lush green spaces on the ground, on each of the levels, and the incorporation of sustainable open spaces as part of the Prestige, will create a luxury sanctuary within the city for residents and pleasure the eyes of beholders. With the strong choice of renowned Michelleti and Co. as the general contractors, the quality of the project is never in doubt. Casa Trasacco is a preferred partner for the project and will add a touch of elegance, as they have come to be known for, for each apartment curated within the Prestige.

Dominick  Andoh
Dominick Andoh

Aviation ReporterPage: AviationGhana

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