Appolonia, an urban development near Accra, has held discussions with John D. Macomber, a visiting faculty member of Harvard Business School, on the real estate landscape in Ghana and Africa.
A statement signed by Madam Josephine Agyeman-Prempeh, Marketing and Communications Department, Appolonia, and copied to the Ghana News Agency, said Macomber, who lectures on Real Estate Management at Harvard, met with leading executives in Ghana’s real estate and business community.
It said they deliberated on solutions to Ghana’s urban development and the potential for the private sector to capitalise on the rapid urbanisation experience.
“The Accra real estate industry is very well defined and reasonably mature,” Macomber said adding that “we see an industry that provides a range of solutions for the market and professionals that add value, ensuring that developments are not just successful but also sustainable.”
Mr Holger Adam, Country Head of Rendeavour, Appolonia’s developer, said “the forum is for our industry to interact and discuss issues which relate to the real estate market in Ghana and Africa as a whole.”
He said “with an increasing urban growth, the strain on existing urban infrastructure, together with the shortage of housing stock in Accra, these discussions can help bring solutions to bridge the gaps.”
In September this year, Appolonia held the first edition of the discussions, with an open house event for members of the public who sought to acquaint themselves with real estate finance and urban planning.
Appolonia City is a 2,325-acre (941ha) mixed-use and mixed-income urban development in the Accra Metropolitan area and the project is being developed for residential properties, retail and commercial centres, schools, healthcare and other social infrastructure.
All local and national regulatory approvals have been met and a full land title certificate has been granted. Infrastructure is being implemented to include water, electricity, tarred roads with storm water drains.
Residential sales are underway with the option of purchasing a plot to build your own house in Nova Ridge or an existing house at the Oxford development. Commercial developments currently include Ghana Home Loans and Total Filing Station with the Golden Pride School constructing the area’s first private school.
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