SuCasa Properties, a Ghanaian real estate company, is making significant strides in providing affordable housing solutions and attracting investment to Ghana's real estate sector.
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Government Collaboration and Expansion Plans
SuCasa Properties recently engaged with the Minister of Works and Housing, Honourable Francis Asenso-Boakye, to discuss expanding their affordable housing projects beyond Accra. Mr. Asenso-Boakye urged SuCasa Properties to extend its affordable housing projects beyond Accra and into other parts of the country.
The Minister also revealed that his Ministry is exploring a partnership arrangement where the developer can produce two-bedroom houses in the Nsawam area at a cap of US$30,000. Michael O’Grantson-Agyapong, CEO of SuCasa, led the team from SuCasa Properties and noted that the company already has plans to venture into other parts of the country and welcomes the Minister's request.
No.1 O’Grantson Communities Project
SuCasa Properties Limited recently inaugurated Phase-one or the No.1 O’Grantson Communities at East Legon Hills in a bid to providing affordable housing units for Ghanaians. This project is a 2,000-housing unit development.
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SuCasa Real Estate Experience
Mr. O'Grantson-Agyapong also presented to the Minister, a new campaign by SuCasa dubbed: the “SuCasa Real Estate Experience”. He explained that the project would organize real estate conferences globally to expose real estate investment opportunities in Ghana for Foreign Direct Investment and Diaspora - Africa investment opportunity awareness creation.
Real Estate Investing in Ghana and Tips to consider when venturing into the market.
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The Role of Diaspora Remittances
Already, data from the World Bank reveals remittances to Sub-Saharan Africa grew by an estimated 5.2 percent to reach US$53 billion in 2022. Since this amount is around 10 percent of the region's annual income, it can be estimated that their total annual income is around US$530 billion, which is higher than the highest single GDP of any country in Africa. For context, Nigeria currently holds the record with a GDP of US$514 billion.
Addressing Concerns and Maintaining Solvency
Although EOCO has kept the company under review for more than a year, SuCasa insists no evidence of wrongdoing has been found. “In this current environment where there is zero tolerance for fraud, we are confident the eventual outcome will vindicate SuCasa,” Mr.
“Just as customers expect us to deliver, SuCasa also depends on timely payments to keep projects moving,” Mr. This position, SuCasa noted, has been upheld in court. In a recent class action involving 38 claimants, 27 were dismissed for breaching their own contractual obligations, while 11 were recognized as creditors.
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“Insolvency is defined as inability to pay, not unwillingness. “Silence has emboldened disinformation. That ends today,” Mr.
Partnership with the Government of Ghana
SuCasa also highlighted its role in the broader housing sector, noting that in 2023 it was named the official private sector real estate partner of the Government of Ghana under the Diaspora Engagement Policy Framework Initiative.
“We are solvent. We are delivering. And we remain determined to build affordable, quality homes for Ghanaians. Livingston Dey, Esq., Chief Legal Officer of SuCasa Properties, added that Accra’s housing challenges make the company’s work even more vital. And when challenges arise, we ensure everything is done strictly in accordance with the law.
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