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Real Estate Development
Posted by: David Ani on 1/30/2012 5:51:15 PM
Funding Needed:
Above $1mil 		Category:
Real Estate / Construction 		Website :
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Location :
ACCRA, Ghana 		Viewed : 168 times
Favorited : 2 times 		Share
Description:
A Ghanaian company dedicated to building affordable housing in an attempt to make itself a first class company, with buildings of sound structure and quality finish, all in a serene and well planned gated community.
In order to put our operations on a sustainable note, the company requests a partnership between our company and Investor to enable it achieve continuous construction to enhance operations.
The capital injection request is for USD $ 17,780,000.00 to be accessed in tranches of USD $ 5,000,000.00 with USD $ 2,500,000.00 being standby facility. These tranches will have a four month moratorium on repayments. Payment is expected to be completed within 10 years of disbursement.
It is planned that the second tranche will be disbursed 6 months of initial disbursement as per attached schedule.
THE PLAN
The Objective is to put the Company in a position to develop consistently affordable housing and also luxury apartments. It is envisaged that 120 units will be started each quarter with a plan to deliver 100 housing units per quarter after 5months of commencement.
This is aimed at utilising the huge demand created by a housing deficit of over 1 million homes in Ghana by targeting the affordable housing segment at a price of USD $ 50,000.00.
The Company has approximately 80 plots of land at the foothills of the Akwapim range of hills, 200 plots at Dodowa, and 400 acres at Oyibi. These secured sites will provide continuous building at the rate of 100 units per quarter for the first year with an increase in production rate to 120 units a month. All sites are expected to be completed within a further 3 years. These sites are located 20mins drive
from the Airport.
The Company will thus be sourcing new sites during the period to ensure the tempo is sustained after the 4 years on newly acquired sites.
The current customer base is made up of:
• Affordable Housing Clients
• HFC; under the government affordable housing project, HFC Bank has a back log of potential house owners of several hundred and are ready to mortgage between use $ 45,000.00 and USD $ 58,000.00 for a 2 Bedroom house.
• Ghana Home loans also have over 400 clients in this bracket waiting to be satisfied.
• The real estate developers in this segment are few and thus the housing shortage provides a market for the Company.
• Expatriate Ghanaians;
• Ghanaians in the Diaspora interested in owning properties at home.
• For this we have an agent in UK who also has a number of clients applying for luxury homes within USD $ 95,000.00 and USD $ 140,000.00
• Group housing schemes for government and private institutions (Fervid Company is currently in negotiations with Customs staff for personal housing)
• Nestle Ghana ltd
• Ghana National Association of teachers
• Vanguard Insurance
• MTN
• Airtel Ghana ltd

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