Here are our headlines for African Home Building News
Ghanaians Embrace High-End Real Estate with Prestige Development
CLOGSAG Raises Alarm Over Growing Security Threats to Civil Servants in Accra
Africa’s Cement Market Surges with Growing Investments from Chinese Firms
HDG Homes has partnered with Turkish construction firm Miller Holding to develop the Kensington Heights luxury apartments and penthouses opposite the Prempeh I International Airport in Kumasi.
The 15-storey development will feature a range of living options, including suites, one-, two-, and three-bedroom apartments, as well as sky suites and penthouses, offering 360-degree panoramic views of the airport and city.
Once completed, the development will include amenities such as rooftop gardens, swimming pools, gyms, business lounges, and more, redefining luxury living in Kumasi.
CEO Stephen Owusu emphasised the project’s role in driving economic growth and enhancing connectivity. Kensington Heights is part of the larger Airport City Kumasi project, which will include luxury homes, hotels, shopping centres, restaurants, and recreational facilities.
The Civil and Local Government Staff Association, Ghana (CLOGSAG) has raised concerns about a growing security threat to civil servants in Accra.
Armed thugs, allegedly affiliated with political parties and illegal recruiters, have been terrorising government employees in areas such as Roman Ridge, Labone, Ridge, Kuku Hill (Osu), and Cantonment.
These individuals are reportedly threatening, harassing, and forcefully evicting civil servants from their residences.
CLOGSAG condemned these actions as “barbaric and primitive” and called for immediate intervention from the Inspector General of Police and other security agencies to protect affected civil servants.
The booming high-end real estate market in Accra continues to attract significant investments from Ghanaians locally and in the diaspora, driven by rental yields ranging between 19.3% and 22%. High-end residential areas like Airport City, Cantonments, and East Legon maintain occupancy rates of 70-80%, making them prime investment destinations.
Among the standout projects is Prestige, a luxury residential and commercial development by i2 Development, strategically located near Terminal 3 of Kotoka International Airport. Following the overwhelming success of Phase One, which featured studios, one-bedroom, and two-bedroom apartments, Phase Two—dubbed La Casa Grande—is now open for sale, promising even greater luxury and investment potential.
i2 Development’s Managing Director, Youssef Aitour, highlighted the project’s rapid uptake, emphasizing its strategic location and modern lifestyle appeal. Prestige is quickly becoming a benchmark for refined living in Accra, offering a blend of comfort, accessibility, and lucrative investment opportunities
Africa’s cement market is experiencing significant growth, driven by rapid urbanisation, infrastructure development, and rising construction activity.
This boom is reshaping the continent’s cement production landscape, attracting new players, particularly Chinese companies.
Faced with a stagnant property market and strict environmental regulations at home, Chinese cement makers have turned to Africa, with companies like Huaxin leading the charge. In 2023 alone, Chinese firms invested in nine new cement projects, with five more planned for 2024.
Aly-Khan Satchu, CEO of the East African Financial Portal, highlights Africa’s enormous infrastructure deficit and demographic growth, noting that Chinese companies see long-term potential in the continent’s market.
Source : Africa Home Building & Renouvation News -Joycelyn Marigold
