JL Properties: Redefining Real Estate Development and Construction Works in Ghana

OVERVIEW

JL Properties, an Accra-based multi-purpose organization, was incorporated in 2011 with excellent financial, project and strategic management. The company’s core services include;

• Building and Road Construction
• Civil Engineering Works
• Real Estate Development

The company offers benchmarked products and services in construction works. It balances occupational safety, uses cutting edge features, and ensures a positive atmosphere for both clients and employees. As a predominant building and construction firm, JL Properties has over the years played and continues to take a major role in the expansion of Ghana’s housing and infrastructural needs by developing areas that conform to Town and Country Planning schemes as well as contributing its quota to the labour market by creating employment opportunities. The company will continue to maintain and reinforce its commitment and focus in the development of the country. We have taken advantage of the usefulness and introduction of sophisticated softwares tailored to suit the construction industry in making our work more efficient and cost effective.

JL Properties caters to a diverse clientele, ranging from multinational corporations and publicly listed companies to retail customers and high net worth individuals, both within Ghana and those interested in investing here. Additionally, we serve embassies, which are among our most valuable assets.

VISION

JL Properties’ core vision is to be the most preferred building/construction company and real estate developer in Ghana through continuous investment in residential and commercial houses and the provision of valuable estate houses which are bespoke with the highest approved standards. We remain committed to adequately funding our quality control department to ensure the use of contemporary and highest quality standard materials and equipment in the execution of all projects. Running parallel with this vision are policy measures to provide over 1000 housing units within the next 5 years to help meet the growing housing needs in Ghana that currently stands at a backlog of over 2,000,000 units. Within the mainstream of JL Properties’ long-term vision is to deepen our capital base massively through the listing of the company on the stock market to attract prospective investors while seeking strategic local and overseas partners as well.

MISSION

JL Properties seeks to provide its customers with time-tested residential homes at affordable prices without compromising on quality and luxury. Specifically, we design to address clients’ needs while ensuring constant improvement in corporate performance. JL also seeks to reinforce the values by which the company works and concurrently provide world-class service for clients while ensuring a conducive working environment for employees.

JL’s policy is to outperform its competitors and be at the forefront in satisfying the present and future needs of clients by the continuous process of improvement and harnessing the skills of all employees.

JL’s housing and construction works offers state-of-the-art amenities that meets international quality standards; living conditions in our facilities are reflective of the rapid advancement in technology. Our company is dedicated to ensuring that our clients enjoy all the benefits of safe, attractive and inviting houses.

Unlike many other building and construction companies that are solely concerned with making profits, our primary objective is to maintain the highest level of quality that is attainable. JL maintains a competitive market price that does not compromise on quality, while working towards expanding the number of projects and company owned facilities.

OBJECTIVE

JL’s ultimate goal is to be the leading real estate developer in Ghana in the next five years and to offer our services at the best affordable prices without compromising on quality.

FACILITIES

JL’s office is situated in a well-populated business centre with an in-house internet server to enable customers and business communications to be addressed in an expedient and fluid manner.

JL construction boasts of adequate and well-resourced building equipment of the highest standard to facilitate smooth operations of work. The company is also in liaison with several companies offering heavy duty equipment on hire.

INDUSTRY BENCHMARKS

The company is committed to mortgage and pre-financing schemes thereby ensuring customers utmost ease in the payment of property acquired. The company also embarks on extensive research to come up with customer focused mortgage/pre-financed projects for both the local and non-resident market. This will ensure that the company attracts and maintains the most responsible and satisfied customers. JL also seeks to:

1. Affiliate itself with both local and international financial institutions.
2. Affiliate itself with corporate bodies that patronize estate and building facilities.
3. Construct safe, quality housing that provides state-of-the-art amenities at competitive prices.
4. Maintain and foster active open communication between the company, its clients and partners.
5. Ensure the highest level of customer satisfaction and long lasting reputation with clients both home and abroad.
6. Provide suitable payment terms for customers.
7. Provide quality and affordable housing units with modern amenities, developed over reasonably short periods.
8. Affiliate itself with reputable international building and construction companies to enable technology transfers and exchange of innovative ideas in the industry.
9. Acquire properties at strategic locations for future profitable and sustainable projects.
10. Employ best resources in the industry from across the world and provide ample opportunity to its work force for personal and professional growth.

Within the next two years, JL will focus its activities more on affordable high rise apartment/flat type of residential enclaves equipped with all modern necessities like power back-up, 24-hour security, swimming pool, club house and children’s park. Further, the company will rehabilitate dilapidated properties, alongside developing new plots. We will venture into modifying and remodelling acquired properties to meet unparalleled standards and also increase short-term assets and income.

As of 2023, JL started acquiring long-term assets such as apartment units for rental, warehouses and construction of office buildings for long-term lease. Housing units for the period under consideration will predominantly be located in the Greater Accra Region and its surrounding areas.

COMPANY OWNERSHIP

JL is a limited liability company based in Accra, Ghana. Its principal investors, Elizabeth Orleans-Lindsay and James Orleans-Lindsay, own the company. James Orleans-Lindsay is the Executive Chairman. Elizabeth Orleans-Lindsay holds a 60% stake in the company and James Orleans-Lindsay holds 40% shares.

MANAGEMENT STRUCTURE

JL Properties is managed by a carefully selected team of experienced, well-matched and ambitious professionals. Alongside our dedicated support staff, our team includes an Executive Chairman, Chief Operating Officer, and General Managers specializing in Operations, Administration, Finance, Marketing, and Human Resources. This team operates under the guidance of a five-member board.

At the heart of JL’s achievements lies a team of highly skilled and motivated professionals, whose expertise spans a wide range of disciplines, enabling them to provide management with tailored, high-quality services. The distinguished members of the board include:

• Professor Edward Ntifo-Siaw: Associate Professor at the University of Cape Coast, Cape Coast, Ghana.
• Dr. James Orleans-Lindsay: Executive Chairman of JL Holdings, based in Accra, Ghana.
• Mrs. Elizabeth Orleans-Lindsay: Shareholder at JL Holdings, headquartered in Accra, Ghana.
• Mr. Reginald Zikpor: Chief Executive Officer of Ecoblock Company Limited, located in Accra, Ghana.
• Mr. Dennis Adjei-Dwomoh (Esq): Junior Partner at Kulendi @ Law, situated in Accra, Ghana.

JL Properties is associated with Stanbic Bank, Republic Bank, Ecobank and UMB Bank in mortgaging and pre-financing projects to provide its customers many options to meet the high cost of purchase.

In addition to this, JL works with Fusion Design Studio which assists in the layout and design of its projects. Atala Company Ltd, Kwasi Oppong Trading Enterprise, Modern Roofing, Alutrade Glazing Works and Sofaamy are key actors in JL’s developmental projects. Their continuous fair sales programme is suitable to meet JL’s building needs and material supplies.

Further, being a member of the Ghana Real Estate Developers Association ensures a steady and constant link with other construction companies.

CURRENT PROJECTS

Location	Number of Houses	Types of Houses	Description
Sakumono	23	Bungalows	Detached
Weija	35	Bungalows	Detached
Achimota	150	Storey	Detached
Kingsby	7	Townhouse	Detached
East Airport	13	Storey	Detached
East Legon	27	Townhouse	Detached
Adenta	12	Storey	Detached

PROPERTIES’ DEPARTMENT

JL Properties has instituted a new department with its principal activities involving offering expert assistance to prospective clients desirous to offer their landed properties for sale or long term leasing. The department also assist prospective clients to purchase or rent properties without struggle. This makes the buying, selling or leasing process much more efficient and saves the clients an incredible amount of time and work. The department also provides information and brokerage services regarding residential, commercial and industrial real estate, property management, real estate appraisal, real estate counseling, real estate syndication, real estate auction and international real estate to consumers in Ghana.

As more and more of the population gain an interest in owning property, the demand for full service buyer brokerage has increased. The department therefore provides information and assistance regarding real estate licensing law, mortgage financing, types of real property ownership, contracts and leases, agency law, transfer of title, land use controls, sales contracts, environmental issues, landlord/tenancy issues, real property valuation, basic residential construction, home renovation as well as insurance of property.

JL MANAGEMENT SERVICES

JL Management Services is responsible for conscientiously meeting the thriving needs that residents inhabiting its estates may be confronted with. The core services provided by JL Management Services include, but are not limited to, cleaning services, landscaping, handyman service, personal security service, courier service, cleaning and filling of polytank in addition to the provision of internet connectivity. These services plus others are meant to ensure clients optimum satisfaction while they reside in the estate.

HOUSING CONDITIONS AND DWELLING UNITS IN GHANA

The total stock of houses in the country is 3,392,745. The proportion of houses in rural areas (57.7%) is higher than those in urban areas (42.3%). Population data further show that the stock of houses has increased by 55.5 % compared with the figure recorded in the year 2000. The regional distribution shows that Ashanti (16.9%) has the highest proportion of houses, followed by Greater Accra (14.0%) and Eastern (12.7%) regions. The Upper West region has the lowest proportion of the housing stock (2.4%). Compared with the 2000 Census data, there are marked differences in the percentage change in housing stock across regions. The increase is highest in Ashanti (74.6%) and lowest in Upper East (29.0%). The population per house is 7.3 and ranges from a low of 5.3 in the Volta region to a high of 9.6 in the Northern region. Generally, there is a reduction in the population per house from 8.7 to 7.3 between 2000 and 2010.

There are 5,817,607 dwelling units. Most households reside in rooms in compound houses (51.5%) and separate houses (28.7%). This observation is reflected across regions. Makeshift dwelling units such as tents, kiosks, containers and attachment to shops or offices together constitute 2.0 percent. In all regions, the proportion of makeshift structures is less than one percent except Greater Accra (6.2%) and Ashanti (1.8%) which have relatively higher proportions of makeshift structures. The statistics above is frightening and makes it imperative to consider augmenting the housing units in Ghana (Ghana Statistical Service).

MARKET ANALYSIS

Apart from individual residential homes, major housing construction in Ghana is segmented into three main facets: the Ministry of Works and Housing where most governmental construction works fall, public-private partnerships, as well as real estate developers. These groups work in tandem to ensure that proper housing needs are fulfilled.

The nation is in need of housing facilities and the government lacks the capacity to solely provide such. Government’s provisions consistently fall far below what is needed.

From Ghana’s population census conducted in the year 2010, the country’s population stood at 24.6 million with a population growth rate of 2.5 %. In that same census, the number of dwelling places recorded was 5,817,607 and the total number of houses countrywide was 3,392,745. This means that there is a deficit of 2,424,862 houses. Due to this, the current national annual need of housing is around 200,000 units and there is an accumulated delivery deficit of one million annually, needed to decongest urban areas.

Currently the national annual housing supply for demand ratio is estimated at about 35%. In order to address the acute shortage situation by 2030, it is projected that the nation has to produce 200,000 units per annum, meaning that around 17,000 houses are to be constructed monthly. The government accounts for 20% of the total housing stock and the rest by private sector developers. Ghana Real Estate Developers Association (GREDA) with about 61 members is not able to meet the yearly target of one million deficit. To make matters worse, the annual requirement for urban housing is around 70,000 units. You can imagine therefore what the situation will look like in rural areas. This is where the invaluable contribution of Real estate developers come in. We at JL have observed this void and hope to contribute in our small way to meet the housing deficit in the country.

MARKET SEGMENTATION

The construction industry’s largest market segment is customers in need of houses. It also includes both local and international Ghanaian and non-Ghanaian residents. At the moment our potential list of clients includes the Upper Middle Class Income Earners and High Net-Worth Individuals (HNWI) in Ghana or individuals who seek to invest. Multi-nationals and very successful local companies, the embassies/high commissions, and celebrities are also viable clients. We concentrate on the customers that can provide us with immediate or upfront cash deposits for acquiring units, since this will help reduce the direct capital outlay. The other market segment is the local growing middle class populace with a rising disposable income which has seen a gigantic leap in acquisition of houses since the inception of mortgage schemes by Ghana Home Loans and other financial institutions.

MARKETING STRATEGY

JL believes that its unparalleled level of quality and flexible terms of pre-financing projects put the company into a niche of its own. In addition to this, the location of project sites enhances and makes JL Properties more marketable. These are the focal points of all JL marketing and advertising efforts. These segments are also easily reached through local newspapers and publications, as well as open house displays.

The construction and estate developing industry is constantly evolving and leaving many inflexible companies stagnant. One of the major trends is the need to adapt to flexible form of financing projects and terms of payment. Another important strategy is adapting to higher density housing in smaller areas due to urban growth boundaries and also adapting to constructing affordable units that meets client needs. JL is dedicated to adapting to these strategies while maintaining the level of comfort that sets JL apart from its competitors.

SALES LITERATURE

JL Properties has well-designed and informative brochures available at its office plus a vibrant and active website. This gives customers a general overview of the company’s projects and services. JL also has brochures and flyers placed on counters of banking halls, and other companies. These serve as marketing and advertising outlets. In addition, JL has advertisements on several billboards across the capital city.

In addition, JL advertises in magazines that offer insight into property acquisition and listed on mortgaging firms. Again, the company advertises on the internet and has adverts placed on property selling websites and sites frequently patronized by potential clients. Further, we advertise regularly in local newspapers. JL has been registered with most institutions that need the services of construction companies.

CONCLUSION

JL aims to become the most preferred building construction company in Ghana by providing its customers with sterling houses specifically designed to address clients’ needs. As a real estate company, obtaining a permanent place in the local marketplace is our primary goal. We wish to acquire local, regional, national, and international renown. We see it as our mission to provide high quality standard houses at lower prices and better service to the targeted markets. Our basic corporate objective is reflected in everything that we do, which is to contribute to the enrichment of the quality of lives for people in Ghana.

One of the most important targets of JL Properties is to construct the safest and most stylish homes with optimal prices. With this purpose and principle, JL intends to stand in this industrial area for long years and be pioneer without compromising with its values. Unique state-of-the-art facilities are infused into our structures to add quality and effervescence to our homes. JL is constantly researching into forms of construction to meet the clients’ budget. Our focus on key industries enable JL to pinpoint customer needs and address them promptly. Our collaboration with market leading partners enables us to offer unique solution and improve the way business gets done.