Ghanaian real estate firm targets Nigerian investors
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Devtraco Group, a Ghanaian developer with more than three decades of experience, is courting Nigerian investors for its Accra luxury portfolio while exploring large-scale housing projects in Nigeria.
Devtraco Group, a leading Ghanaian real estate developer with more than three decades of experience, has intensified efforts to attract Nigerian investors to Ghana's luxury property market while exploring opportunities to participate in large-scale housing development in Nigeria.
The company, which has developed high-end residential and commercial properties in Ghana, showcased its Accra portfolio, including Arlo Cantonment, The Pelican Hotel and The Address, to high-net-worth individuals and potential investors at a media interaction in Lagos. The engagement is part of its strategy to deepen cross-border real estate investment within West Africa and encourage Nigerians to diversify their property portfolios beyond their home market.
Devtraco's Development Director, Sidney Quaye, said the company's properties were designed to offer more than accommodation, describing them as a reflection of a sophisticated lifestyle. He said the visit to Nigeria signals Devtraco's growing focus on Nigerian investors and its commitment to facilitating cross-border real estate investment within West Africa.
Head of Sales, Ewurabena Braye, said investing in Ghanaian real estate through the company offers investors the opportunity to earn returns while benefiting from capital appreciation, citing a return on investment of more than 12 per cent and capital appreciation of over five per cent. She also cited security of investment, stable government policies and the absence of contractual restrictions preventing investors from transferring profits to their home countries as advantages of investing in Ghana.
"We have over 1,800 keys to our names in Ghana as the biggest developer," Braye said, adding that Ghana's legal and investment environment provides mechanisms to protect investors' interests, with commercial disputes expected to be resolved within a relatively short period. She urged investors to consider geographical diversification as economic and market conditions in major cities continue to change.
The push comes as West African property markets compete for cross-border capital, with Ghanaian developers increasingly marketing Accra projects to Nigerian buyers seeking foreign property exposure.