Data released by the Ghana Statistical Services (GSS) on activities that happened in the third quarter of 2017 show that, Ghana’s construction sector grew by 2.6 percent (year on year), an improvement from the 0.8 percent recorded in quarter two of this year.
Compared to other subsectors in the industrial sector, the construction sector recorded the least growth rate, with mining and quarrying recording 50.8 percent; water and sewerage 21.5 percent; electricity 15.3 percent; manufacturing 5.2 percent, taking the overall growth of industry to 16.6 percent in quarter three of 2017.
As noted earlier, even though growth in the construction subsector is not as impressive as the other subsectors in the industrial sector, it is an improvement from what was recorded in the previous quarter, further indication to investors that the sector still has enormous potential to grow, considering the country’s infrastructure deficit.
It is estimated that Ghana needs more than $7 billion to close its infrastructure deficit. In line with this, government has said it will turn to Public Private Partnership (PPP) to close this deficit, providing the right message to investors in the real estate sector to take advantage.
Green Views, one of the new real estate developers in the country, has already taken advantage of the situation by establishing its presence.
The company has put a luxurious apartment situated in the heart of Airport Residential Area, one of the elite communities in Ghana.
The apartment is made of eight one bedroom, eight two bedrooms, eight three bedrooms, and four duplexes (four bedrooms), all with spacious balconies.
It is also furnished with a pool, garden, gym, and a roof terrace to offer a range of recreational activities for residents. The entire project will be ready for habitation by the middle of 2018.