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Ghana Report
Marcopolis presents the Ghana Report focused on investments, doing business, economy and other topics featuring interviews with key executives and government officials. The sectors under review are agriculture, banking, energy, industry, telecom, IT, real estate and more.
VideosNovember 04, 2019
Low-End Housing in Ghana: One of the Most Attractive Areas to Invest in Says Eric Ebo Acquah of Blue Rose Limited
- Written by Sandra Francisco
- Published: November 04, 2019
Eric Ebo Acquah, CEO of Blue Rose Limited, discusses low-end housing in Ghana and presents the company and its vision.
"I have been in this business for 30 years. We started as a landscaping company and somewhere along the line we also saw the need for affordable housing. We have seen that it has a huge potential. Every country is driven by their real estate. Now, even the secondary market will also grow. Because interest rates are going down, most of the banks will also look here because it is one of the safest places to invest. With real estate, you can see it and you can feel it. It is not something that can easily crash because we are doing low-end housing. If you do high-end housing, the possibility of a crash is high. With low-end, even if a bank non-finances and the person is not able to pay and the bank repossesses the property, it is easy to sell it to someone else. When you do an expensive mansion and repossess it, you cannot sell it. It is one of the most attractive areas, but it is challenging. You need to understand it. There are many companies that come here and want to do what we are doing, but they are still doing one-bedrooms for over $50,000. We have a lot of experience and we want to leverage that experience to expand to the other sites. Very soon, we will be in every region of the capital. Then we will go to some of the district capitals. Blue Rose is now a household name. People know what we stand for. With a little push we can do a lot of things. The foundation is already done. The difficult aspect is already done. Some of the workers have been here for 20 to 25 years. They know what they are doing, they understand it. Our corporate governance is very solid. We have a board and management. Everything is in place. We are looking for local and foreign investors, but more importantly, for someone who shares our vision and our passion and who also knows what we are doing. In two to three years, we want to not only be in Ghana, but in other countries such as Liberia and Sierra Leone. We can use our experience and break into the entire African market", says Eric Ebo Acquah.
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