Nigerian investors have demonstrated burning investment appetite with their dominance of Ghanaian real estate market where they account for over 50 percent of the total transactions in the country’s bourgeoning middle and high end markets.

Though they are more visible in the residential segment of the market, they are at the same time no push-overs in the commercial segment where the development and ownership of some quality high-rise office buildings in the heart of Accra, the country’s capital, are linked to Nigerian business moguls.

Robert Davis, the marketing manager of Movenpick Ambassador Hotels, developers of Ambassador Heights’ luxury apartments, confirmed to BusinessDay in Accra at the weekend that Nigerians are the prime movers of premium real estate transactions in Ghana.

Davis noted that the Ghanaian real estate market attracts foreign direct investment not only because of the quick value appreciation and high rental yield of real estate assets estimated at 10 percent per annum, but also because of the security, socio-economic and political stability in the country, pointing out that the challenges experienced by the country’s currency was gradually easing off.

He hinted that demand for the 18-unit Ambassador Heights has been quite encouraging with Nigerians securing 50 percent of buyer-interest in the 21st century development located in Ghana’s most coveted location, placing them ahead of local investors who share the remaining 50 percent with foreign clients.

With the encouraging demand from Nigeria, the developer said the country was their next destination, affirming that Nigerian property market has great growth potential and huge opportunities for investment.

According to him, Ambassador Heights would deliver world class design and build quality, adding that with its modern glass facade, manicured private gardens, and beautiful interiors complete with luxury finishing, fittings, and appliances, it would complement an unrivalled ownership experience.

“It is designed to be an urban sanctuary within the city for a privileged few, offering immediate access to all of Accra – from the vibrant central business district to the sprawling seashore. Merely minutes away from the Arts Centre, the National Museum, and directly opposite the National Theatre, there is no shortage of local culture and entertainment to cater to those with a discerning urban lifestyle”, he said.

By virtue of its location, Davis described Ambassador Heights as a 5-Star mixed use development in which the hotel and the commercial space have been fully completed, assuring that buying into this development even as an investment makes much economic sense.

“Accra is the nerve centre of ‘New Ghana’ and all it stands for where the young middle class are witnessing a renaissance in attitude. There is an awakening to entrepreneurship and a consciousness towards art and luxury, where comfort is a major factor in every lifestyle choice.”


http://businessdayonline.com/2014/09/nigerian-investors-dominate-interests-in-ghanaian-real-estate-market/#.VBblzFxBvMI

Ghana should be grateful to Nigerians for the input they are for the development and sustenance of ghana economy.

they've stayed away from the thread lol ..they know themselves

Igbo peopel too don dey go dominate Ghana? na waoo

xharder: Igbo peopel too dont dey dominate Ghana? na waoo

^^^Your choice of words is in bad taste!

Imagine that!

hahahahaha shitnigerians are such funny people. In their quest to show how shitnigerians "dominate" in Ghana see how these modafakas completely threw basic ethics of journalism to the dogs.

How can any sane human being make such stupid, clueless and baseless assumptions by talking to just one individual-who obviously was foreigner? Apart from the so-called Robert Davis quoted in this fuelish report, did anybody else contribute to this irresponsible and barbaric report? It wasn't as if they referred to any credible survey or official report by Ghana on the real estate industry in Ghana. na wao, such pathetic people. and some foools will one day use this as a reality and tell you shitnigerians "dominate" the real estate sector in Ghana. hahahahaha frankly don't know whether to cry or laugh people will go to any pathetic extent to tell lies. no wonder you hear comments such as shitnigerians dominate the Ghanaian economy. can you imagine such crap? dominate ke, nominate nko. arrant rubbish!

hahahahaha i am convinced even the so-called Robert Davies was the reporter's creation chei

PetroDolla4: hahahahaha shitnigerians are such funny people. In their quest to show how shitnigerians "dominate" in Ghana see how these modafakas completely threw basic ethics of journalism to the dogs.

How can any sane human being make such stupid, clueless and baseless assumptions by talking to just one individual-who obviously was foreigner? Apart from the so-called Robert Davis quoted in this fuelish report, did anybody else contribute to this irresponsible and barbaric report? It wasn't as if they referred to any credible survey or official report by Ghana on the real estate industry in Ghana. na wao, such pathetic people. and some foools will one day use this as a reality and tell you shitnigerians "dominate" the real estate sector in Ghana. hahahahaha frankly don't know whether to cry or laugh people will go to any pathetic extent to tell lies. no wonder you hear comments such as shitnigerians dominate the Ghanaian economy. can you imagine such crap? dominate ke, nominate nko. arrant rubbish!

hahahahaha i am convinced even the so-called Robert Davies was the reporter's creation chei

See epistle of lamentations,I feel your pain bro...it really sucks to be dominated on your own turf

Qelvin:
See epistle of lamentations,I feel your pain bro...it really sucks to be dominated on your own turf

are you for real? hahahahaha read the article again and tell me whether it makes sense to you "dominate"? ask shitnigerians in Ghana whether they really feel they dominate anything, apart from crime? hahahahahaha funny country, funny people

These Ghanaians have an incredible low self esteem bunch of charcoals as humans

PetroDolla4: are you for real? hahahahaha read the article again and tell me whether it makes sense to you "dominate"? ask shitnigerians in Ghana whether they really feel they dominate anything, apart from crime? hahahahahaha funny country, funny people

mind ur choice of word or else i will just put a call thru to them in gayhna and ask them to start dumping the property at a very useless and low price.

Don't know why nigayrians want to associate themselves with us, where from this rubbish story?

2cato: mind ur choice of word or else i will just put a call thru to them in gayhna and ask them to start dumping the property at a very useless and low price.

fvck ya! hahahahaha what are you wanting for,shitnigerian? ediot. I am wanting for you apes to dump whatever nonsense trash......... some of you shitnigerians are pathetic and fvcking gullible! MUMUDOM Republic SMH

PetroDolla4: are you for real? hahahahaha read the article again and tell me whether it makes sense to you "dominate"? ask shitnigerians in Ghana whether they really feel they dominate anything, apart from crime? hahahahahaha funny country, funny people

Don't cry Charlie, once again I feel your pain

It's no surprise that Nigerians dominate the Ghanaian property market. Nigeria is a MINT nation. One of the four nations projected by experts to lead world economic growth this century. I mean, Ghana is not in the same class as Nigeria. Nigeria's annual GDP is $510 billion - half a trillion dollars - making it Africa's biggest economy, recently surpassing South Africa. Ghana's GDP is $47 billion. So what's the point of this discussion? There's nothing to debate.

Why can't the FG of Nigeria just buy parts of Ghana so we can use our own fertile land for Agriculture ?

edoyad: Why can't the FG of Nigeria just buy parts of Ghana so we can use our own fertile land for Agriculture ?

thats bullying..

At this juncture . Its high time I come into this topic of discussion. Cos this is a very distorted and one sided news, and a lot of you here seem to take it another way round . Am saying this cos I know this project too well and also into urban projects in ghana .. The phase 1 of the project has been bought already of which 50 percent of it was bought by nigerians.. Due to this high turn out of nigerians on the project it prompted Robert Davis, the marketing manager of
Movenpick Ambassador Hotels, developers
of Ambassador Heights’ luxury apartments to say that “Nigerians are the prime
movers of premium real estate
transactions in Ghana”. Its just a marketing strategy to lure nigerians to invest more and not the actual picture of the real estate sector in the country. Of cos upper class and middle class Nigerians desire a cool, serene and safe place to reside.. With a blend of luxury depending on the rate of income. And so far ghana has been having one of the biggest real estate boom in africa.. Of which majority of it are owned by ghanaians.. Looking at the location, increased business opportunities in the country and rapid development its definitely going to be a top destination for nigerians considering to locate or add to their property collection. There are a whole lot of projects going on the country. And market analysis to show who dominates.. So You can't use what you just read here and equate..

hahahaha you guys are a bunch of comedians indeed! 80% of shitnigerians live in rented premises, compared with 22 % in Ghana, and they want to lay claim to "controlling" real estate in Ghana? http://www.thisdaylive.com/articles/thoughts-on-the-2014-nba-agc/187927/

hahahahaha I have not stopped laughing since I first read this crap! such inferiority complex! hahaha nothing makes a shitnigerian happy than to be lied to. the shitnigerian press is sh1t

If you want to know a country whose economy is being dominated by foreigners then read this
Foreigners have taken over our economy — MAN
http://www.vanguardngr.com/2014/01/foreigners-taken-economy-man/

on January 12, 2014
*’How made-in-Nigeria goods campaign died after gulping millions of Naira’
*Outlines the road to economic prosperity in 2014
By UDEME CLEMENT
Ikpong Umoh is the Vice Chairman, Toiletries and Cosmetics (T&C) Group of Manufacturers Association of Nigeria (MAN). He speaks on the activities of the sector in 2013, the need for the Federal Government to revamp industries in 2014, strict enforcement of the local content policy and the benefits of patronising made-in-Nigeria goods.
Looking at the economy in 2013, has the manufacturing sector made much impact on national development?
The manufacturing sector, especially Toiletries and Cosmetics (T&C) Group of Manufacturers Association Nigeria (MAN), recorded major decline instead of increase in productivity. Looking at the economy generally, there are many challenges. In the 60s, Nigeria’s economy was placed above Brazil, China, India, Singapore and Malaysia as a country with numerous potentials to become a technology giant.
Sadly, that has not happened because our resources are not prudently managed. Also the rulers are not living up to expectation in doing the right thing and leading by example. For example, government is only interested in revenue generation from local industries and not in their growth. We do not have good industrial policies to ensure that foreign firms coming into Nigeria partner with local companies to enhance technology transfer like what is done in other countries. Here, foreign companies come in with their chief executives, cooks, barbers and even carpenters. There must be census of foreigners in Nigeria. Does our immigration office have the data on how many foreigners are in Nigeria? Today, foreigners have taken over our economy even in Small and Medium Enterprises (SMEs) like operating barber’s salons and eateries.
Foreign firms still operate in Nigeria with almost 100 per cent foreign work-force despite the local content policy in place. Does it mean this policy is a failure?
In Nigeria, government’s policy on local content works only on paper and not in practice because government is not pursuing it to ensure compliance like what we see in other countries.
Why do most Nigerians prefer foreign products even when made-in-Nigeria goods are of superior quality?
It is the mentality of some individuals who believe that imported goods are better even when such products are inferior compared to those manufactured locally. The campaign for patronage of made-in-Nigeria goods did not just come today. It is a project that has taken centre stage of various governments for over three decades, since MAN initiated the campaign. The most recent launches occurred in 1999, 2004, 2009 and 2010. Each of the launching held out promises of economic emancipation and guzzled whopping sums of money but we are yet to feel the impact on the national economy.
In 2009, the Minister of Commerce and Industry, Achike Udenwa, launched one of the most celebrated campaigns. On that occasion, government made far reaching pronouncements including import prohibition of certain products, a ban on the consumption of foreign beverages at official functions and in government offices. Some of the items on the prohibition list include biscuits, tea, coffee, soft drinks, fruit juices and bottled water. Government’s argument was that uncontrolled importation of these items made local brands largely uncompetitive. That campaign gulped N200m. In spite of the huge amount of money and the high profile launching, the anticipated effect was not realised as the exercise was overtaken by events and the campaigned soon fizzled out just like its predecessors.
What is responsible for the exponential decay in the tempo and effect of such laudable projects, which characterised the campaigns?
The reason for failure include insincerity because, during the campaign, the dress code of the ministers and other government officials showed shoes made in Italy, the flowing gown made in Saudi Arabia, wristwatch made in Hong Kong and the pen used to sign the event register made in Switzerland. The trays, cups and plates used for entertainment were made in China.
The launching was accompanied by a lot of fanfare followed by radio jingles, television adverts and billboards with advertorials, across the length and breadth of the country. After that, what next? The whole setting reflected hypocrisy with a faulty foundation and an attitude of ‘do as I say, not as I do’. The approval by the President Goodluck Jonathan-led Federal Executive Council (FEC) to import 60,000 units of waste bins from the United Kingdom (UK) at N927.6 million may have confirmed the insinuation in some quarters that the much-promoted local content policy is a mere lip service.
Lack of political will is also an issue because sometimes there is a tendency for the sponsors of the project to use it as a launching pad for their political ambitions, to corner the huge budget associated with it or to appease MAN that government identifies with their concern for invigorating the industrial sector via promotion of made in Nigeria goods. Once their selfish ambition is achieved, the project is abandoned.
The campaign is usually narrow in scope and shallow in content, as it starts and ends in Abuja without any plan to replicate the campaigns in the states and local governments to drum awareness at the grassroots. There are no set targets or dates to measure any impact or achievements. No reviews are made. Once the incumbent minister vacates the post, the project exits with him or her.
The absence of enabling laws to back up the call for made in Nigeria products is also a challenge. In its present form, the campaign is seen as something that does not concern everybody. Majority of Nigerians are not aware of the benefits derivable for being patriotic about locally made goods .Today, there is no punishment for importing and selling finished goods that can be made in Nigeria.
This takes us to the issue of policy thrust direction. Since the advent of democracy in the 4th republic, we witnessed that efforts to jumpstart the economy are focused in two directions like attracting Foreign Direct Investments (FDIs) or encouraging and empowering local industries. The two considerations appear to be mutually exclusive events in Nigeria, so only one of them may be undertaken. Experience has shown that the odds usually favour FDIs while stimulating the economy through encouragement of local industries often becomes the opportunity cost.
The preference for FDIs is obvious as the immediate and long term personal interest overrides any other considerations including national interest. People in government who negotiate the investment inflow are guaranteed a place in the Board as Directors, while their children and cronies can also look forward to a secure future without much toil or sweat. The foreign investors are wooed with generous incentives including tax holidays of about 3-5 years, Duty-free and Value Added Tax (VAT)–free importation of their finished products for about three years and syndicated bank loans among many others. On the other hand, local investors are denied these generous conditions even in their own country.
What are the economic implications of government giving foreign investors many incentives to the detriment of local manufacturers?
That is why our economy is suffering and so many of our youths are jobless. Once they settle, the foreign investors begin to look for monopoly and so begin to plot how to kill any local competitor that may have been in the market before their arrival. They will employ all manner of antitrust tactics and even use the regulatory agencies to raise the bar to scheme out local entrepreneurs.
With the level of poverty and unemployment today, is there any hope for Nigeria’s economy?
Nigeria still has potentials in oil wealth and with huge foreign reserves; government can change the economy and move to actualise the Vision 20:2020. It is important to note that the manufacturing sector is crucial to economic development and job creation. For us to move forward like advanced countries, our government must turn attention to industrial development and there must be an enabling environment for SMEs to thrive.
Nigeria has sufficient human resources, some developed and some un-developed, but the way the resources are being harnessed is the major problem. Our school system is nothing to reckon with in terms of research capable of opening new and innovative windows for industrial growth. This is because research is not taken seriously in Nigeria like what obtains in advanced countries.
What is the way forward?
The government is the biggest earner of money and also the biggest spender. It therefore has an ultimate role to play in making patronage of made in Nigeria goods a reality. The challenges facing a typical manufacturer, like decayed infrastructure, perennial power outage, multiple taxation and dumping are well known as well as the roles to be played by various government agencies.
For instance, the country requires a cultural reorientation, which will enable Nigerians think and act in a way that will bring high regard for made-in-Nigeria goods and the Local Content Act, which is currently operational in the oil and gas sector, must be extended to other sectors of the economy, including toiletries & cosmetics manufacturing. It should start with a legislation that will make the patronage of made in Nigeria goods mandatory for everybody.
The government at the centre should lead by example by ensuring that our military and paramilitary uniforms are made with fabrics of Nigerian origin. Nigerian contractors should be preferentially considered for jobs where they have expertise. Foreign contactors must adhere strictly to the Local Content Act by partnering with indigenous contactors to help them build capacities.
Government must do everything possible to empower the local industries to mass produce to satisfy the teaming population of over 160 million. For example, raw materials for conversion into finished product, which cannot be sourced locally, should not be levied more that 5 per cent duty rate and VAT waived for such materials. In toiletries & cosmetics sub-sector, some raw materials input are still being levied over 20 per cent in spite of the fact that local sources for such materials are not available.



hahahahaha see how shitnigerians "dominate" the real estate sector in Ghana
[img]http://3.bp..com/_f2oFg5f42hM/TGKeef0x0KI/AAAAAAAAAAU/fFWU1RZBGWo/s1600/OJOTA-2.jpg[/img]

Zenith Bank Nigeria Plc Building in Accra:



Any Ghanaian equivalent in Abuja or Lagos?

Thought not.

An article that should be celebrated turns into a cursing match. Nigeria needs investors, Ghanaians are free to come and dominate whichever sector they chose.

PetroDolla4: hahahaha you guys are a bunch of comedians indeed! 80% of shitnigerians l

I can only see emotions in the gibberish above.

Better give yourself senses or descend on you.

Aranaa won't come to your rescue this time around.

ROSSIKE: It's no surprise that Nigerians dominate the Ghanaian property market. Nigeria is a MINT nation. One of the four nations projected by experts to lead world economic growth this century. I mean, Ghana is not in the same class as Nigeria. Nigeria's annual GDP is $510 billion - half a trillion dollars - making it Africa's biggest economy, recently surpassing South Africa. Ghana's GDP is $47 billion. So what's the point of this discussion? There's nothing to debate.

MUMU-in-Chief!

The GDP ni, PDP nko?

Let me break thing down to your level, goat.

GDP is the aggregate of the value of goods and services produced within a specific jurisdiction.

So in the case of MUMUgeria, revenues from oil drives your GDP. So with high oil prices, your country’s GDP will naturally rise, even without you apes lifting a finger!

The the reality of your so-called large GDP is junk! your so-called GDP exists only on paper

You know how things are with oil revenues in your sh1thole,right? Your sh1thole is one of the world's most corrupt nations,huh? Answer yes sir,dog.

By the time Goodluck Jonathan, his ape-looking wife, IBB take their share of the so called large GDP; OBJ will remove his own; Abdulsalami Abubakar will take his cut; Atiku and Tinubu will take their share, Danjuma will collect his own, even Buhari go collect na; your thieving governors and their officials will take their share, the remainder of your GDP is nothing to write home about!

MUMU by the time the leftover of your so-called large GDP is shared among the rest of you 200 million suffering masses, apes like you won’t even see a kobo

Why do you think its difficult to provide water, electricity, health care, jobs etc etc in your sh1thole? arrant nonsense!

I will rather have a GDP of $1 and have a descent life than have a $500 billion GDP and live in perpetual poverty those Lagos workmen fighting for Fashola's fanta fit kill pesin oooh. chei see GDP, abi na PDP don swallow una money finish sef

ROSSIKE: It's no surprise that Nigerians dominate the Ghanaian property market. Nigeria is a MINT nation. One of the four nations projected by experts to lead world economic growth this century. I mean, Ghana is not in the same class as Nigeria. Nigeria's annual GDP is $510 billion - half a trillion dollars - making it Africa's biggest economy, recently surpassing South Africa. Ghana's GDP is $47 billion. So what's the point of this discussion? There's nothing to debate.

Very soon, Dangote will buy Ghana...

[s]

ROSSIKE: Zenith Bank Nigeria Plc Building in Accra:



Any Ghanaian equivalent in Abuja or Lagos?
Thought not.

[/s]hahahahaha you talk like a foool. that building you posted is NOT owned by Zenith Bank It is Ghanaian owned Zenith Bank hired just two floors in that building such magg0t

edoyad: Why can't the FG of Nigeria just buy parts of Ghana so we can use our own fertile land for Agriculture ?

Guy, you wicked oo..

Una want petrodollar to cry...

100Cents:

Very soon, Dangote will buy Ghana...

I think he should buy shitnigeria first because that zoo is now a certified sh1thole. can you imagine people eating from the dustbin in that accursed magg0t-infected sh1thole dangote can at least use some of his ill-gotten money to feed some of his starving apes who keep embarrassing africa 90% of you apes survive on less than $2 a day. why can't dangote help fight poverty in the sh1thole? you need get rid of the generator fumes in your sick tiny brain

iconize:

I can only see emotions in the gibberish above.

Better give yourself senses or descend on you.

Aranaa won't come to your rescue this time around.

hahahahaha you wan try? hahahahah fuckeduppedness PetroDolla don't give a sh1t about MUMUs. a bunch of modafakas abi you want try/ PetroDolla is a warrior any day

PetroDolla4: [s][/s]hahahahaha you talk like a foool. that building you posted is NOT owned by Zenith Bank It is Ghanaian owned Zenith Bank hired just two floors in that building such magg0t

Zenith bank does not rent property anywhere
.

dis poor ghanian guys dy tuk?

100Cents:

Zenith bank does not rent property anywhere
.

where did you get that nonsense from? who gives a fvck about zenith bank? they are just one of 36 banks, so who cares about them. Perhaps they don't do that in your country but they no choice than to do that in Ghana. they can pack and go back to MUMUDOM if they like

iterator25: they've stayed away from the thread lol ..they know themselves

What was the purpose of this thread mtchew