| | General News 
[ 2016-05-03 ] 
Ghanaians among Dubai’s top property buyers
More wealthy Ghanaians are investing in Dubai
property, encouraging a growing number of property
companies from Dubai who are using Ghana as their
destination to target buyers across West Africa,
especially Nigeria.
Glamourous and sales girls are always seen in
airport terminals and hotel lobbies in Accra,
Tema, Kumasi and Takoradi trying to sign up rich
Ghanaians to “exclusive viewings” at the
emirate’s latest property developments.
Over $6 billion has been invested in Dubai’s
property market by Ghanaians and Nigerians over
the past three years, document by First Group, a
property company based in Dubai has stated, noting
that, “Nigerians account for 60 percent of all
sales by the company”.
Asked why he was considering investing in Dubai
rather than his homeland (Ghana), Kwesi Damfi, an
oil mogul told Business Day that:
“Dubai looks safer.” Mr. Damfi, whose only
glimpse of the emirate came when he transited
through Dubai on the way for medical treatment in
India, added: “Dubai looks like the world centre
now if you look at the people coming in from all
over the world.
It seems to be a guarantee of a return for an
investment." Dubai has long been the regional hub
for the oil-rich Gulf States, but the ambitious
city state is never one to rest on its laurels.
The emirate has for years been touting itself as
the central node for 2 billion people, spanning
the Middle East, the subcontinent, central Asia
and eastern Africa. Now, even West Africa, an
eight-hour flight away, is on its radar.
Paris and London have long been the hub for
western African states, but Dubai is now giving
these established centres a run for their money.
Emirates airline’s Dubai-Lagos flight is
renowned for constandy being packed.
Some banks, such as Standard Chartered, have
chosen to cover some business lines in
sub-Saharan Africa from its regional headquarters
at Dubai's financial centre.
Luring talent to the comfortable Dubai
lifestyle is easier than some African postings,
while reaching various outposts of the continent
can be easier from the city’s thriving airport
than other hubs, such as Johannesburg and Nairobi.
As Chinese and Asian firms chose Dubai for their
regional headquarters, often these businesses
are not only targeting the Gulf, but looking to
use the city as a launch pad into sub- Saharan
Africa as well.
The Ghana-Dubai property love-in is still going
strong as the property market in general
improves.
Jones Lang LaSalle in a recent second-quarter
report noted that villa prices in Dubai had risen
by around 20 per cent over last year, while
apartments in popular buildings are flat on the
year. Source - Business Day
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