Headlines for PE News
Fidelity Bank Partners with Mayfair Estates to Boost Homeownership Accessibility in Ghana
Enterprise Singapore’s Jean Ng Explores Sustainable Real Estate Innovations with Golden Coast Developers
The Nigerian Real Estate Market Struggles with Rising Property Prices and Slowing Sales Amid Inflation
Fidelity Bank, Ghana’s leading indigenous private bank, has entered into a strategic partnership with Mayfair Estates Ghana Limited to make homeownership more accessible.
The collaboration aims to address the critical challenges of affordability and the housing shortage in Ghana.
A Memorandum of Understanding was signed at the Mayfair Estates Property Roadshow at Mayfair Gardens, formalizing the partnership.
Attended by representatives from both organizations, the agreement marks a significant step forward in expanding mortgage financing options for Ghanaian homebuyers.
By combining Fidelity Bank’s financial expertise with Mayfair Estates’ real estate development acumen, the partnership will deliver comprehensive solutions and streamline the homebuying process.
Nana Esi Idun-Arkhurst, Divisional Director, Retail and Business Banking at Fidelity Bank, representing the bank’s Managing Director, Julian Opuni, stated the bank’s commitment to making homeownership a reality for more Ghanaians.
She said the partnership with Mayfair Estates is a crucial step in expanding the mortgage financing offerings and helping more people achieve their dream of owning a home.
Noble John Watson Otumfour, Chief Executive Officer of Mayfair Estates Ghana Limited, expressed enthusiasm about the partnership.
This partnership between Fidelity Bank and Mayfair Estates Ghana Limited marks a significant milestone in the Ghanaian housing market and is poised to make a substantial impact on the real estate sector, offering more Ghanaians the opportunity to achieve homeownership through accessible mortgage financing.
Jean Ng, Head of Enterprise Singapore, visited Golden Coast Developers on July 15 as part of her tour of Africa’s innovative real estate developments.
She and her team met with Neil Oku, CEO of Golden Coast Developers, to discuss key issues in Ghana’s real estate sector, including property demand, financing, and investment opportunities.
The meeting also focused on the progress of Golden Coast’s flagship project, Heritage 100, with particular attention to its eco-friendly and sustainable living features, aligning with Ng’s mission for a greener future.
The real estate market in Nigeria is experiencing significant challenges, with property prices surging and sales declining, according to Festus Adebayo, Executive Director of the Housing Development Advocacy Network (HDAN).
He attributes these issues to inflation, the devaluation of the Naira, and rising costs of building materials, particularly those imported.
This has created difficulties for estate developers, who struggle to find buyers despite extensive advertising.
Adebayo also noted that these challenges are not limited to one area but are seen in major cities like Lagos and Port Harcourt, pushing developers to innovate in their construction and financing methods.
Source : Joycelyn Marigold – Property Express News
