Construction & Real Estate

Ghana’s slowdown had a noticeable impact on the construction sector. However, its prospects appear to be brightening, with sizeable capital allocations in the government’s budget and growth of 3.7% targeted for the industry in 2017. New government initiatives and increased oil revenues are hoped to bring further opportunities for infrastructure and real estate projects, with a range of factory, roadway, airport and railway initiatives in the pipeline. Since 2007 Ghana’s real estate market has followed a cyclical trajectory, booming when headline growth is strong, but slowing in recent years in line with the commodity price drop in 2014. However, the country is expected to see increased activity in the property market in the medium term, following government efforts to boost the sector and the abolition of the 5% value-added tax on all real estate sales in 2017.

The chapter contains an interview with Karim Ibrahim, Managing Director, Dream Realty.