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VideosOctober 10, 2023
From Affordable Housing to City Development: Othniel Ghana’s Journey in Real Estate
- Written by Sandra Francisco
- Published: October 10, 2023
Jude Kwapong, Chief Operating Officer at Othniel Ghana, discusses projects and gives an overview of the Ghana-based development company, which has been operating in the property development and construction management sectors since 2015.
"We recognized an opportunity in the city development space, where people were ready to buy and willing to accept payment terms ranging from 24 to 36 months, which was more feasible for us. Before this shift, we also attempted an affordable government housing project, but it did not progress as expected. We built some small-scale developments and engaged in real estate consultancy with a Chinese firm, which aimed to enter the affordable housing market alongside us. Unfortunately, that collaboration did not materialize, leading us to shift our focus to city development. In 2020, we acquired land in the city and commenced active construction in mid-2021 after obtaining the necessary permits. Prior to this, we successfully completed a project with the 37 Military Hospital, which included eight ATM farms. This project served as a visible demonstration of our capabilities, boosting our confidence to take on more city-based projects", says Jude Kwapong.
"Currently, we are in the final stages of completing our first city development project, named The Zach, with the show unit completed and construction finished. We have also broken ground for the Kanda project, known as The Zebedee, which comprises 24 apartments, including studios, two-bedroom, and three-bedroom units. Additionally, we have projects in Roman Ridge. The city has generated significant interest and activity compared to the outskirts, but we have not abandoned our plans for peripheral development. We are planning to acquire 100 acres in Adukrom, located just 10 minutes from Safari Valley. Our aim is to build retirement homes with payment options that accommodate provident funds or social security, making it less burdensome for our clients. We are also excited about a recent contract we secured to construct the Catholic Business Tower, which will be the tallest building in the northern region. This demonstrates our commitment to both estate development and construction, and we are currently managing these aspects concurrently", he adds.
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