Top 10 Real Estate Developers in Ghana

As the real estate landscape in Ghana continues to evolve, prospective homeowners and investors seek reliable information to guide their decisions. In this blog post, we present detailed information on the top 10 real estate developers in Ghana for 2024. This is not a ranking but a selection of the top 10 Developers based on a comprehensive set of factors, including track record/reputation, relevance, social/environmental responsibility, and financial support/flexibility for prospective homeowners.

Methodology

We’ve evaluated each developer based on the following criteria:

  1. Track Record and Reputation
    • Experience (in years)
    • Successful projects completed
    • Relevance
    • Size of current development
    • Customer satisfaction (using Google Reviews and testimonials)
    • Diversity and volume of portfolio
    • Location advantage
    • Community development initiatives
  2. Social and Environmental Responsibility
    • Environmental initiatives
    • Community development projects
  3. Financial Support for New Homeowners
    • Flexible payment options
    • Financial assistance programs

Now, let’s dive into the insights;

1. Regimanuel Gray

Overview:

  • Years in Operation: 33 years
  • Primary Specialization: Luxury & Mid-range Gated Communities, Apartments and Commercial Properties
  • Prominent Locations: Downtown & Midtown

Track Record & Reputation:

Criteria
Details
Years in Operation
33
Projects Completed
18
Countries
2
No. of Subsidiaries
8
Units Contributed in Ghana
5,023
Units Under Management
2,112

Relevance:

Social and Environmental Responsibility:

  • Contributed over 12,000 trees in all projects to improve air quality.

Financial Support:

  • Offers a 12-month off-plan payment plan for new homebuyers at Regimanuel Satellite City. Prospective homeowners can pay 40% of the unit’s price and spread the rest for the rest of the unit’s construction.

Additional Information:

  • Infrastructure Investment: Commitment to investing in infrastructure before housing units are built.
  • Customer Satisfaction Commitment: Dedicated subsidiary for maintaining communities to preserve aesthetic appeal.

2. Devtraco Group

Overview:

  • Years in Operation: 31 years
  • Primary Specialization: Luxury Apartments and Mid-range Gated Communities
  • Prominent Locations: Downtown & Suburban
  • Latest Project (2024): The Address
The Address is the latest development (2024) by Devtraco Plus. Location: Roman Ridge, Accra.

 

Track Record & Reputation:

Criteria
Details
Years in Operation
31
Projects Completed
12
Countries
1
Units Contributed in Ghana
2,115
Units Under Management
1,811

Relevance:

  • Current Developments Size: 400+ acres
  • Customer Satisfaction Reviews: 4.5/5 (based on 245 Google Reviews for Devtraco Ltd + Devtraco Plus)
  • Notable Projects: Legacy Court, Deligreen, Bella Villa, Heritage Court, Crystal Court, and more.

Financial Support:

  • Offers a flexible off-plan payment plan for property investors. Prospective investors can pay 20% of the unit’s price and spread the rest for the tenure of the unit’s construction.

3. Clifton Homes

Overview:

  • Years in Operation: 13+ years
  • Primary Specialization: Luxury Apartments
  • Prominent Locations: Downtown / Central Business Area
  • Latest Project (2024): The Atlas, Loxwood House, Bantree
Loxwood by Clifton Homes is located at Tetteh Quarshie Interchange in Accra.

 

Track Record & Reputation:

Criteria
Details
Years in Operation
13
Projects Completed
9
Countries
1
Units Contributed in Ghana
820
Units Under Management
820

Relevance:

  • Current Developments Size: 100+ acres
  • Customer Satisfaction Reviews: 4.5/5 (based on 681 Google Reviews for Clifton Court, The Lennox, Kai Villas & Embassy Gardens)
  • Notable Projects: Clifton Court, Addy Villas, The Lennox, Kai Villas & Embassy Gardens )

4. Trasacco Group

Overview:

  • Years in Operation: 29 years
  • Primary Specialization: Luxury Apartments & Luxury Gated Communities
  • Prominent Locations: Downtown & Suburban

With 29 years of operation, Trasacco Group focuses on luxury apartments and gated communities, contributing significantly to the real estate landscape in Downtown and Suburban areas.
Key Strengths:

  • Notable Projects: Trasacco Valley, Villaggio Vista Condominium, The Springs, East Legon Hills, Royal Ridge.
  • Community Development: Trasacco Group actively engages in community development initiatives, enriching the areas around their projects.

Relevance:

  • Current Developments Size: 100+ acres
  • Customer Satisfaction Reviews: 4.5/5 (based on 871 on Google Reviews for Trasacco Valley, Trasacco Valley Phase 3, Villaggio Vista Condominium, The Springs )

5. Goldkey Properties

Overview:

  • Years in Operation: 27 years
  • Primary Specialization: Luxury Apartments & Commercial Office Space
  • Prominent Locations: Downtown

Notable Projects:

For 27 years, Goldkey Properties has been a key player in luxury apartments and commercial office space leaving an indelible mark on Downtown locations.

  • Cantonments City, Goldkey Properties, Hammond Court, PWC Tower, Vivo Place

Relevance:

  • Strengths: 27 years of experience, award-winning projects like Cantonments City & CCT, expertise in mixed-use development & office space in prime locations (downtown).
  • Customer Satisfaction Reviews: 4.6/5 (based on 137 Google Reviews for Cantonments City, Goldkey Properties, Hammond Court, PWC Tower)

    PwC Tower is one of the most recent city developments by Goldkey Properties.

6. Denya Developers

Overview:

  • Years in Operation: 11 years
  • Primary Specialization: Luxury Apartments
  • Prominent Locations: Suburban

Track Record & Reputation:

Completed Projects:

  • The Denya at Ringway: This high-rise residential development, launched in 2016, was Denya’s first project and remains a popular choice for residents and corporate rentals. Its convenient location near Oxford Street and modern amenities attract many.
  • The Ivy at East Legon: Completed in 2019, this project caters to young families and Ghanaians in the diaspora with its contemporary apartments and proximity to desirable amenities in East Legon.
  • Platinum 1 (Colombo, Sri Lanka): Denya’s international foray, this high-end commercial and residential development in downtown Colombo showcases its capabilities beyond Ghana.
  • L&T Tech Park (Chennai, India): Adding to their international portfolio, Denya partnered on this IT park, demonstrating their expertise in diverse building types.

Key Strengths of Denya Properties:

    • Location: Their focus on prime areas like Cantonments, East Legon, and Airport Residential ensures convenient access to amenities and infrastructure.
    • Modern Design: They prioritize contemporary architecture and stylish finishes, appealing to younger demographics and professionals.
    • Customer Satisfaction Reviews: 4.7/5 (based on 19 Google Reviews for The Denya at Ringway, The Ivy at East Legon )

Relevance:

  • Current Projects:

    • Tribute House (Airport Residential): Scheduled for completion this year, this nine-story mixed-use development features luxury apartments, penthouses, a pool, and a fitness center, setting a new standard for Denya’s offerings.
    • Pavilion (Cantonments): To be finished in 2024, this project boasts the company’s most spacious apartments yet, along with massive balconies, a luxurious pool deck, and stunning views, aiming to attract high-end buyers.

Notable Projects:

  • The Denya at Ringway, Accra, The Ivy at East Legon, Accra, Platinum 1 at Colombo, Sri Lanka, L&T Tech Park at Chennai, India

The real estate industry in Ghana boasts several reputable developers, each with its unique strengths and contributions. When choosing a developer remember that the best developer for you depends on your specific needs and preferences such as preferred location, budget, property type, estate management services and most importantly your investment objective.

7. Lakeside Estate

Overview:

  • Years in Operation: 26 years
  • Primary Specialization: Mid-range Gated Communities
  • Prominent Locations: Suburban

Track Record & Reputation:

Lakeside Estate is a burgeoning developer making waves with its family-friendly communities, and affordable housing options. They’ve earned recognition for their dedication to quality, recently clinching the coveted Real Estate Company of the Year award for 2022.

Strengths:

  • Family-centric focus: Their gated communities are designed with families in mind, offering safe spaces for children to play and fostering a sense of community.
  • Affordable options: Lakeside Estate understands the importance of accessibility, providing a range of homes suitable for various budgets.
  • Customer Satisfaction Reviews: 4.3/5 (based on 88 Google Reviews for Lakeside Estates, Community 8 Lakeside Estates )

Notable Projects:

  • Lakeside City, Lakeside Hills, Dream Homes, Lakeside Business Center, Lakeside Marina Park

    Lakeside Hills is the latest development by Lakeside Estate near Ashaleybotwe in Accra.

8. Capemay Properties

Overview:

  • Years in Operation: 16 years
  • Primary Specialization: Luxury Apartments
  • Prominent Locations: Downtown

Key Strengths of Capemay Properties:

    • Location: Their focus on prime areas like East Legon, and Spintex ensures convenient access to amenities and infrastructure.
    • Modern Design: They prioritize contemporary architecture and stylish finishes, appealing to younger demographics and professionals.
    • Customer Satisfaction Reviews: 4.7/5 (based on 19 Google Reviews for The Signature Apartments & Capemay Properties Ghana)

Relevance:

Notable Projects:

    • Selton Skye is a residential building developed by Capemay Properties and is located off the George W. Bush highway (N1), adjacent to Tullow Oil in Accra, Ghana. It is set to become the tallest residential building in Ghana, standing at an impressive 27 floors 12. The building is inspired by Ghana’s Adinkra Symbol ‘NSAA,’ signifying quality workmanship, genuineness, excellence, and authenticity. It offers a lavish assortment of apartments, from one-bedroom units to an expansive sky-level penthouse. The infrastructure provides more than just residences; it promises a lifestyle enriched with convenience and luxury. The amenities include an on-site grocery store, a pharmacy, concierge and 24-hour security services, co-working spaces, a movie theatre, a state-of-the-art fitness center, a sky lounge and pool, a restaurant overlooking a communal courtyard piazza, and breathtaking panoramic sky views 1.
    • The Signature Apartments is another project by Capemay Properties and is located in Accra, Ghana. It is a luxury residential complex that has redefined Accra’s skyline. The complex offers a range of apartments, including one, two, and three-bedroom units, as well as penthouses. The Signature Apartments is a modern and stylish development that offers residents a comfortable and luxurious lifestyle. The complex features a range of amenities, including a swimming pool, a gym, a rooftop terrace, and a 24-hour concierge service. The apartments are designed to be spacious and airy, with large windows that provide plenty of natural light and stunning views of the city. Set within two towers, Selton Skye is set to be the tallest housing development in Ghana yet.

9. VAAL Real Estates

Overview:

  • Years in Operation: 14 years
  • Primary Specialization: Luxury Apartments
  • Prominent Locations: Downtown
  • Headquartered: Accra, Ghana, with operations in Kenya, Turkey, Uganda, and the UK.
  • Notable Projects: Legato Heights (Off-plan sale. Project is at a preliminary stage), Harmonia Residence (Off-plan sale. Project is at a preliminary stage), Harmonia Villas (Off-plan sale. Project is at a preliminary stage), L&T Tech Park (Chennai, India), Platinum 1 (Colombo, Sri Lanka).

Key Strengths of VAAL Real Estates:

    • Location: Their focus on prime areas like Airport Square, Airport Residential, and Roman Ridge ensures convenient access to amenities and infrastructure.
    • Modern Design: They prioritize contemporary architecture and stylish finishes, appealing to younger demographics and professionals.

Ghana’s real estate developers are not just builders; they are architects of dreams. As you embark on your homeownership journey, your key considerations should center on your investment objective, location, and affordability.

Harmonia Residences launched in 2023 by VAAL. Location: Roman Ridge

10. Indigo Homes

Overview:

  • Years in Operation: 8 years
  • Primary Specialization: Townhouses
  • Prominent Locations: Suburban
  • Countries/Cities of Operation: Accra, Dar es Salaam, Nairobi, New York & Washinton DC.
  • Indigo Homes is a BlackIvy company that specializes in developing vibrant, moderately priced homes within secure gated communities.

Key Strengths of Indigo Homes:

    • Modern Design: They prioritize contemporary architecture and stylish finishes, appealing to younger demographics and professionals.
    • Customer Satisfaction Reviews: 4.4/5 (based on 917 Google Reviews for Oyarifa Park & Ayi Mensah Park)

Relevance:

Notable Projects:

    • Ayi Mensah Park: This 200-unit development, situated at the foot of the Aburi Mountains, was their inaugural project and a resounding success. All units, ranging from condos to townhomes, were sold out and handed over to happy residents in 2019.
    • Oyarifa Park: Located just 30 minutes from Accra Mall and Kotoka International Airport, this gated community offers a vibrant lifestyle with 200 townhomes and condos. While all units in the initial phase have been sold out, there might be opportunities for future phases or resales.

      Oyarifa Park housing estate in Accra by Indigo Homes

Industry Insights & Forecast

According to Statista;

  • The Real Estate market in Ghana is expected to witness significant growth in the coming years.
  • According to projections, the market value is set to reach a staggering US$458.50bn in 2024.
  • Among the various segments of the market, Residential Real Estate is expected to dominate with a projected market volume of US$389.10bn in the same year.
  • Furthermore, the market is anticipated to maintain a steady growth rate in the following years, with an annual growth rate (CAGR 2024-2028) of 5.48%.
  • This growth trajectory is predicted to result in a market volume of US$567.60bn by the year 2028.
  • In a global context, it is noteworthy that China is expected to generate the highest value in the Real Estate market, with an estimated worth of US$135.70tn in 2024.
  • This underscores the significance of the Real Estate market sector in the global economy.
  • Ghana’s real estate market is experiencing a surge in demand for affordable housing due to population growth and urbanization.

Customer preferences: Ghanaians are increasingly looking to invest in the real estate market as a means of securing their financial future. This is driven by a desire for long-term capital appreciation and rental income. Additionally, there is a growing demand for affordable housing, especially among the middle-income population. Ghanaians are also showing a preference for gated communities and modern amenities, such as swimming pools, gyms, and playgrounds.

Trends in the market: One of the key trends in the Ghanaian real estate market is the increasing number of real estate developments, particularly in major cities like Accra and Kumasi. These developments range from residential buildings to commercial properties and mixed-use developments. This trend is driven by the growing population and urbanization, as well as the government’s efforts to attract foreign direct investment. Another trend in the market is the rise of real estate investment trusts (REITs) in Ghana. REITs allow individuals to invest in real estate without having to directly own and manage properties. This has made real estate investment more accessible to a wider range of investors and has contributed to the growth of the market.

Local special circumstances: One of the unique aspects of the Ghanaian real estate market is the influence of the diaspora. Many Ghanaians living abroad are investing in real estate in their home country as a way to connect with their roots and potentially retire there in the future. This has led to an increase in demand for luxury properties and high-end developments.

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