The Construction and Real Estate Digest with Daniel KONTIE: Real estate investment opportunities in Accra [3]: 5 reasons why the Tema-Afienya-Akosombo stretch is one of the most promising real estate investment hotspots

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In part 2 of this series, we looked at the real estate investment prospects on the Tema-Aflao Highway stretch. If until now you haven’t laid hands on that article yet, kindly visit our website and read it meticulously. Today we are looking at part-3 which deals with the real estate investment prospects along the Tema, Afienya-Akosombo stretch, but before we go into the nitty-gritty of the discussion, let me remind you that, the Africa Continental Engineering & Construction Network Ltd is Ghana’s leading thought leader in all real estate services. From land acquisition, title registration, building design, general construction, property development, real estate investment advisory services, we have you covered 360ºC. Do check us out on our website by searching on google the company name, explore our properties and reach out for a swift professional service delivery. We have thousands of parcels of land on this stretch and all other locations across all suburbs of Accra, Ghana and Africa. Now, get ready as we dive into the substance of toddy’s discussion. We shall be looking at five (5) compelling reasons why the aforementioned stretch is also one of Accra’s most promising real estate investments hotspot. Strategic Location and Infrastructure Growth In part-2 of this series, we discussed the industrial spillover in the Greater Accra Metropolitan area which shifted to the Tema-Aflao Highway stretch. Considering the rate of industrial influx, our projections points to the fact that by 2030, the Tema-Aflao stretch will also be saturated and the next industrial spillover will shift boldly to the Tema-Afienya-Akosombo stretch. This is because the Tema-Afienya-Akosombo stretch is the next available stretch with mass affordable land and in close proximity to the Tema-Aflao Highway stretch. That notwithstanding, Afienya is the home of another significant industrial enclave that houses about 80% of all stone quarry installations in the region. With the best granite deposit, the stretch has attracted major stone quarry operators such as the Easter Quarries, Twin Rock, Mawums Quarry, Gokay Quarry, HMD Quarry just to mention a few. Its proximity to Tema and Accra, coupled with the ongoing infrastructure upgrades including the Tema Motorway expansion and the Tema Port expansion project will significantly enhance its appeal to both residential and commercial investors. The area is also known for its industrial scale laterite deposit, serving as one of the region’s largest source of gravel or laterite. Also, the construction of new roads and the Eastern Corridor rail line are expected to further integrate Afienya into the Greater Accra Metropolitan area whilst it connects with the Eastern and the Volta Regions, making it a viable option for both industrial and residential developments. Availability of Mass Affordable Land Compared to Accra and central Tema, land prices in Afienya and parts of Akosombo remain relatively cheaper. This affordability opens doors for large-scale housing projects, gated communities and mixed-use developments targeting middle-income buyers and diaspora investors. Just a few years ago, we used to sell a plot of land (70ftx100ft) between Ghs 20,000 to Ghs 30,000. Today, our lands on the stretch sell between Ghs 100,000 and Ghs 150,000 depending on its proximity to the principal streets. But even with these prices, it is still considered affordable compared to same in the prime principal communities in Tema. The last study we did on the stretch and its investment outlook suggest that, land prices are likely to shoot to over 100% in the next few years to come taking into consideration the operationalization of the railway line on the stretch and the multiple influx of more commercial quarry operators which are driving demand for land for both industrial and social housing developments. Tourism and Leisure Opportunities At the far end of the corridor lies Akosombo, a town famed for its hydroelectric dam and breathtaking views of the Volta River. With tourism on the rise and a growing appetite for lakeside resorts, eco-lodges and retirement homes, Akosombo presents unique opportunities for hospitality and leisure-focused real estate projects. Apart from this, the area also houses quite a number of tourism potential; one is the Shai Hills Resource Reserve, which is also driving tourists’ traffic onto the stretch. Industrial and Logistics Growth Tema remains Ghana’s industrial and logistics hub, with the expanded port driving demand for warehousing, commercial spaces and social housing. Investors can tap into the spillover demand for logistics infrastructure and support services along the corridor. Already, the stretch has witnessed a significant attraction of manufacturing and infrastructure companies over the years. It is expected that many companies will come in as the industrial spillover continue to shift from Tema and may triple when the Tema-Aflao stretch is saturated. Safety and Security With the presence of the First (1st) Infantry Battalion of the Ghana Army on the stretch (Michel Camp), housing thousands of military officers, crime rate on this stretch is almost zero. Commuters plough the stretch without any threats or fear for their lives and livelihoods. This high level of safety and security is one of the driving forces attracting both individuals and businesses alike that are security conscious into this stretch. In a dispensation where crime is on the rise, people are not just looking for only prime locations, but safety and security. Therefore, all properties acquired in close proximity to the Barracks are likely to appreciate over 300% in the next few years to come. Market Dynamics and Investment Outlook According to recent reports, Ghana’s real estate sector has experienced a compound annual growth rate (CAGR) of 30% between 2016 and 2021, making it one of the fastest-growing sectors in the country. This growth is fueled by: urban migration, diaspora investment and government-backed infrastructure projects including road networks and railway extensions, which are unlocking new development opportunities. In Tema, the real estate landscape is already flourishing, with high demand for residential and mixed-use developments. The city’s strategic location along the Gulf of Guinea and its role as a logistics hub make it a prime area for both residential and commercial real estate. Key Investment Opportunities Key investment opportunities prospective investors should be on the lookout for includes but not limited to; Social housing in Afienya: with land prices still relatively low, developers can tap into the growing demand for social housing among young professionals and middle-income earners. Gated Communities: the success of similar developments in Prampram and Dawhenya suggests strong potential for secure, planned communities along this corridor. Already, there are a few big names in the real estate development space on this stretch, namely; Adom City Estate and Emef Estate. Eco-Tourism and Hospitality in Akosombo: The natural beauty of the Volta Lake and the Akosombo Dam area is ideal for resorts, vacation homes and wellness retreats. Logistics and Warehousing in Tema: As Ghana’s trade volumes grow, so does the need for logistics infrastructure, a niche ripe for investment. Apart from these, shopping malls, supermarkets, recreational centres etc will also be profitable on this stretch. Challenges and Considerations However, one should not be swayed by these investments prospects into making any investment decision without proper due diligence. Unlike the Tema-Aflao stretch with minimal issues, investors should be mindful of land litigation along this stretch, infrastructure gaps in utilities and drainage challenges in some parts of Afienya and beyond, as well as regulatory compliance challenges, including land title and zoning laws. Apart from this, the incidence of encroachment is prevalent, the abuse of zoning regulations etc. There have been several reported incidence of encroachment of quarry concessions which are zoned for industrial purposes now being encroached and sold for residential purposes etc. This is the more reason why it is very important to work with industry leading organizations such as the Africa Continental Engineering & Construction Network Ltd. We are connected with all the stakeholders in the real estate and construction sector and will guide you through the process with ease and without any challenge. In conclusion, the Tema–Afienya–Akosombo stretch is no longer just a transit route; it’s a corridor of opportunity. For discerning investors, especially those with a long-term horizon, this region offers a blend of affordability, growth potential and strategic location. As Ghana’s urban footprint expands, this corridor is poised to become one of the cornerstones of the country’s real estate future. Ghana Statistical Service. (2021). 2021 Population and Housing Census: General Report. https://www.statsghana.gov.gh Ministry of Works and Housing. (2023). National Housing Policy Implementation Report. Government of Ghana. Ghana Investment Promotion Centre. (2024). Real Estate Sector Overview. https://www.gipc.gov.gh World Bank. (2022). Ghana Urbanization Review: Managing Spatial Transformation for Greater Development. https://www.worldbank.org/en/country/ghana/publication/urbanization-review Ghana Ports and Harbours Authority. (2023). Tema Port Expansion Project Update. https://www.ghanaports.gov.gh Volta River Authority. (2022). Akosombo Dam and Tourism Development Strategy. https://www.vra.com Oxford Business Group. (2023). Ghana Real Estate and Construction Sector Report. https://oxfordbusinessgroup.com Ghana Railway Development Authority. (2024). Eastern Corridor Rail Project Brief. https://www.grda.gov.gh About Author Daniel Kontie is a young enthusiastic Ghanaian entrepreneur, the Executive Chairman of the Africa Infrastructure Group; the Group comprises the Africa Continental Engineering & Construction Network Ltd, the Falcon 48 Developers, the Africa Infrastructure Energy Ltd and the Africa Land Banking Investment Ltd. All these are young establishments disrupting the conventional way of brand building across the globe. Daniel is a columnist, a writer and a member of the Built Environment Writers Association of Ghana. He can be contacted via the contacts: +233209032280 / +233209032280. Email Address: [email protected]. Website: https://www.acecnltd.com