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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.
InterviewsFebruary 07, 2019
Sethi Realty: The Real Estate Branch of Sethi Group of Companies by Mono Sethi
Mono Sethi, Director at Sethi Group of Companies
- Written by Sandra Francisco
- Published: February 07, 2019
Interview with Mono Sethi, Director at Sethi Group of Companies
Could you introduce yourself and the company?
My name is Mono Sethi. I am one of the directors at Sethi Group of Companies. Sethi Brothers started in Liberia back in 1973 with my dad. He moved from London (UK) to Liberia. He was working for someone at first, and eventually, he started his own business in the 1970s. From there, it expanded into Togo and now to Ghana. Despite the wars and political instability in Togo and Liberia, we are still active in all three countries. Now, the head office is actually based in Ghana and we have quite a few branches all over the nation. We have branches in Takoradi, Accra, Tema, Kumasi and Tamale. We have international offices as well, four in Togo and quite a few outlets in Liberia. We have diversified quite a bit in Liberia into the plastics industry as well. Another sector we entered into in 2008 was the real estate sector with Sethi Realty. We develop commercial and residential complexes in Ghana. We have done buildings in Accra, such as Sethi Plaza, and we have a five-story building in Tema called Giaan Towers. Our flagship development at the moment is a PPP with the government of Ghana for a mass housing project of 4,000 housing units. We have started and finished the first phase of 240 units which we are now pushing out to offtakers around the world. The first phase was developed for Ghanaians living abroad. We want to bring them back home. It is a typical, European, developed type of living.
What kind of project is this? What amenities are offered?
Sethi Realty is developing Nyame Dua Apartments. The development is about 27 km from Accra in the heart of Tema, in Community 25. We call it “the future of living”. In developed countries, the government focuses on apartments because it saves both the government and homeowners time, resources and money. We bring to Ghana an ideal type of living you see in developed countries like Europe and America: simple, practical homes that are designed to actually lower the cost of living. In the past, we used to have this notion of wanting a big, five-bedroom house, with three garages. Those times are changing. Now, we want to save money and streamline things. Living more practically and efficiently saves money. It has been proven all over the world. We are hopeful that next year we can start work on another 600 units for phase 2.
What are the price ranges?
The prices start from 75,000 dollars for this current phase. For the next phase, it might change, but we do not yet know what the market wants. When we completely finish this first phase, then we will start developing the second phase.
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