The Future of Real Estate in Ghana: Quality Homes and Luxury Living with Libi Homes

Could you give us an overview of Libi Homes – its inception, scope of business, and competitive advantage?

My name is Elizabeth Aya Okyere, Sales Director for Libi Homes. Libi Homes is  a premium real estate developer. We provide quality builds across budgets in the Ghana real estate sector. The real focus of Libi Holmes is to provide quality builds that are functional, aesthetically pleasing, as well as efficient. That is what our mission and our passion is to deliver. 

A brief history of Libi Homes, our real estate journey actually started in  Buckhead, Atlanta, Georgia in the USA. That was our sister company called Libi Custom Homes, and what they did was buy distressed homes and redevelop them into high-end luxury homes. That went really well. We have, to date, developed seven houses and four have sold. We have three still on the market. 

Two years ago, in 2022, we started the Ghana arm, which is known as Libi Homes. The focus remains the same, to provide quality build across different budgets. Our  competetive advantages are the unique and prime land bank portfolio that we have and the team of seasoned and skilled professionals we work with.

 We have lands in very prime locations such as the Airport Residential Area, Cantonments, East Legon, Adenta, and Tema. Location is very important when buying your real estate property as it allows us to deliver safe, secure homes and thriving communities . Currently, we have three ongoing projects, The Milton, a luxury apartment building in the Airport Residential Area, Accra. We also have LibiPrime, which is in Tema, Community 26, and The Buckhead, which is our ultra-luxury homes  in Cantonments. 

We also work with a team of seasoned real estate and construction  professionals, and that allows us to deliver on our promise of quality.They include both local and international consultants, including architects, engineers etc. Our building designs receive peer review from a building expert in Atlanta.

What is your view on the recent boost in real estate projects in Ghana? What are the upcoming trends and challenges?

For the past decade, the real estate sector in Ghana has seen a significant growth, and you only have to look around and see the new high-rise buildings coming up. This has been triggered in part by macroeconomic factors. The  past couple of years, Ghana has enjoyed a fairly stable economic growth. That has resulted in more disposable income in the middle-income sectors, and that has driven the need or the demand for real estate. 

We also have a growing interest and demand for real estate from the diaspora community, both Ghanaians living abroad as well as people looking to connect with their Ghanaian  roots.

 Urbanization and  improvement in infrastructure such as roads and bridges making certain undeveloped locations accessible for development.

There has been a significant growth in the Ghanaian real estate market and it is projected to continue growing between 2024 and 2029, with a forecasted annual growth of about 3.5%, so it is looking good for the real estate sector at the moment. 

What is your ideal target market?

We have different property types due to different locations and that allows us to reach a wide range of homebuyers  with different budgets. At all times we aim to provide the highest and best use of the land.

The luxurious  hotel style apartments, The Milton  in Airport Residential Area is perfect for the real estate investor due to it’s prime location, high demand and high yields. It is also ideal for city workers, short lets, and  middle management and top management income  levels earners .

LibiPrime, our serene  detached and semi-detached town homes in Tema Community 26, is affordable and has flexible payment plans and appeals to owner occupiers, families, as well as investors and the middle income population.

At the Buckhead, which is our ultra-luxury brand in Cantonments, the  target market is the-high-net-worth individuals.

Tell us more about the house types in your portfolio.

Currently we have apartments at the Milton, and town homes at the Buckhead and LibiPrime developments . Looking at other varied property types in the future including mixed-use, as well as commercial buildings. 

What projects are you working on at the moment?

In our development pipeline, we have three projects. At the front end is The Milton, which is a twin-tower, nine-storey apartment building in the Airport Residential Area. We have 157 apartments. Unit types include  studios, one bed, two bed, two-bed duplexes, as well as four-bed duplexes. Currently, our studio size starts from 41m², which is a very generously sized studio compared to our competitors. We have the biggest studio in the market at the moment, so we offer more value for money. 

For the twin towers, it is two twin towers connected by a reception floor, and then we have the swimming pool at the end and a beautiful courtyard in the front. We also have balconies that overlook the courtyard or the swimming pool. The concept is to provide a kind of hotel apartment, so all the amenities you would get with a hotel, we would have with The Milton. Some of the amenities include a 24/7 concierge and round-the-clock security. There will be basement parking, a launderette, and a restaurant on the ground floor as well as the rooftop. 

We have water storage that allows a self-sufficiency of about five days even if there is no running water. There will be a standby generator and property management, as well. Most importantly, property management will be based at the building, in the property management office. So if you are looking to buy for investment, property management can do that for you – lease your apartment for you, on-board clients when they come in and when they check out, and make sure everything is put back in place as well. These are the added benefits we will have at The Milton.

In the middle of our development pipeline is LibiPrime. This is a master-planned gated community in Tema, Community 26. It consists of detached as well as semi-detached town homes. We have two bed, three bed, and four bedroom homes. It is master-planned in the sense that we have a swimming pool, a clubhouse that residents can use, as well as a sports court. We also have pavements that families can take walks on and that children can use to ride their bicycles. We have a huge water storage tank that provides a self-sufficiency of about three days, even if there is no running water in Tema, which is a problem in Tema. Also, we have property management based on site. There will be landscaping for each home, which will be maintained and covered by the service charge paid by the residents. 

At the back end of our development pipeline is The Buckhead, which is our luxury high-end development. We broke ground on this towards the end of last year. That is in Cantonments, and these are 52 uniquely designed and executed town homes. We have three levels – ground floor, first floor, and second floor – five bedrooms, staff quarters, and high-end appliances and specifications. We have automation of all security systems, sound, and other provisions. I am talking about using high-end kitchens like Schmidt Kitchens, so it is going to be all high-end luxury at The Buckhead. We broke ground and the project is ongoing, and we are looking to roll out the model home in a couple of months. The model home for LibiPrime is also going to be ready in a month and a half, in mid-November, so we are excited. There is a lot happening, and we are excited to be in this space.

What do you envisage to achieve in the next two years? 

In the next two  years, our main  focus is to complete  the three ongoing developments in our development pipeline and see our cherised homeowners enjoying their homes and creating lasting memories and staedy returns.

Can you tell us about any exciting news we can expect from the company? 

We are excited to unveil our model home at  LibiPrime, Tema Community 26 in November 2024. The model home for Milton will also be completed by  December 2O24. The Buckhead model homes follows in the 1st Quarter of 2025. Our customers and clients get to see firsthand  the quality builds that Libi Homes delivers.

Tell us a bit a little bit about your journey and your passion.

I have always worked  in the built environment. My undergraduate degree was in Building Technology, the Quantity Surveying option from Kwame Nkrumah University of Science and Technology and my masters in Real Estate from the Reading University, UK

I worked with a number of international companies in the UK, including Leach Consultancy and Balfour Beatty.

After my master’s, I returned back to Ghana and joined  Libi Homes. It has always been my passion to be in real estate and built envornment to deliver quality buildings that are efficient and functional to the home owner and help develop my dearest country in a sustainable way.

Do you offer other services in the real estate space?

We offer property management services. We have a subsidiary, Libi Prop, that offers  property management service at our developments ensuring our developments  work efficiently. At Libi we take control of the entire real estate development process from design, through construction and property management services post construction.

We have varied products, with various price points, so we have something for everybody irrespective of your budget. Reach out to us, and we will find you something that works for you.  You can reach us on +233 055 009 0900 or alternatively our website www.libihomesgh.com Thank you.

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