Competitive Advantages of the Octagon in Central Accra by Karim Jamil Ibrahim

Karim Jamil Ibrahim, Managing Director of Dream Realty, explains what are the main competitive advantages of the Octagon in Central Accra.

“What we offer in the Octagon project, first of all, is the location of the project. It is in Accra center and it is very close to all the Ministries and the best hotels in town. Because it is in the commercial sector of the city, which is downtown like any other city in the world, there are few competitors in the vicinity. Secondly, is the scale of the project. The Octagon, as a singular entity, is one of the biggest projects in all of West Africa. Once fully occupied, it will host between 3,000 and 4,000 people. So, businesses will attract each other into that building and into that project. Most of the office buildings that were built in Accra were only offering office space for rent. We gave the opportunity for small companies, medium sized companies, and large companies to buy their own space in the project and actually own it instead of paying rent. This is what differentiates us from others. We are in the middle of all the Ministries and walking distance from the courts, the best hotels in town, and the Central Bank. Retail, such as clothing or jewelry shops or small retailers, were not interested in this area. They would rather go more into shopping malls. Also, our showrooms are very big. We do not have small shops. So, it had to be a big company that would come in. So far, we only have mainly banks and insurance companies. We have a pharmacy that will open up soon and a very interesting investment that took place in the Octagon which is a clinic on the ground floor that is doing wonderfully”, says Karim Ibrahim.

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