Devtraco Targets Nigerian Investors as Ghana’s Property Market Beckons

.Developer unveils cross-border investment opportunities, promises up to 12% dollar returns, transparent transactions

Bennett Oghifo

Ghana’s property market is increasingly positioning itself as an attractive destination for Nigerian investors seeking to diversify their real estate portfolios beyond the domestic market, with Devtraco Nigeria Limited seeking to leverage the growing cross-border investment appetite.

The Ghanaian property developer, which has been operating for more than three decades, recently engaged Nigerian media and prospective investors in Lagos, highlighting opportunities in residential, commercial and hospitality real estate while assuring potential buyers of transparency, structured payment plans and exit opportunities.

At the centre of the company’s pitch is its established presence in Ghana and its expanding portfolio of developments, including Devtraco Woodlands, a planned sustainable city sitting on a 600-acre land area within a wider land bank of more than 2,000 acres.

Speaking during the engagement, representatives of the company said the Nigerian market represented a significant opportunity, particularly as investors increasingly looked beyond traditional destinations such as Dubai, the United Kingdom and other established property markets.

The company said it was positioning Ghana as a relatively close and accessible investment destination for Nigerians, stressing that the country’s expanding tourism, hospitality and urban development sectors were creating demand for quality accommodation and investment properties.

One of the representatives said the company was introducing an opportunity for Nigerians to visit Ghana and inspect its developments before making investment decisions.

According to the company, prospective investors would pay a fee for the inspection trip, but the amount would be absorbed into the cost of the property if they eventually purchased.

“We know that for Nigerians, seeing is believing,” the representative said, urging Nigerians to take advantage of the opportunity to visit Ghana and inspect Devtraco’s developments before investing.

The company also placed considerable emphasis on transparency, particularly for Nigerians investing remotely.

It disclosed that its accounts were audited by Deloitte in Ghana, with the audit subsequently sent to Deloitte South Africa for further checks, while reports were made available to investors.

For newer developments, Devtraco said it had introduced smart-home features that would allow property owners to monitor activity within their apartments remotely.

Investors, it said, would be able to use smart devices such as mobile phones and laptops to monitor the number of times their properties were accessed, providing real-time visibility into their investments.

The company said investors would also receive regular construction updates for off-plan properties through emails and videos, allowing them to monitor the progress of their developments.

It added that each investor would have access to a dedicated sales representative, while property owners would subsequently be supported by management teams responsible for the developments.

On returns, Devtraco said Ghanaian residential properties could generate average returns of between eight and 10 per cent, while properties within its portfolio could achieve higher returns depending on occupancy and market conditions.

It said its average occupancy during lean periods stood at about 65 per cent, with stronger performance during festive seasons.

For residential properties, the company put average returns at about 12 per cent in dollar terms, stressing that the projection was deliberately conservative.

Commercial and hospitality properties, including hotel assets, it said, could generate returns above 12 per cent depending on prevailing rates and the performance of the particular property.

The company contrasted the opportunity with some developed markets, arguing that Ghana’s growing economy, infrastructure development and tourism potential could create room for capital appreciation and rental income.

It also pointed to Ghana’s annual festive influx, popularly associated with “Detty December”, as a major driver of short-term accommodation demand, particularly in prime locations in Accra.

For Nigerian investors already owning properties domestically, Devtraco presented Ghanaian real estate as a diversification opportunity, allowing them to spread their investments across different markets.

On legal protection, the company assured Nigerian investors that Ghana had a strong legal framework for resolving commercial disputes, including arbitration and the conventional court system.

It said commercial disputes were expected to be resolved faster than some other categories of litigation, while arbitration could provide a quicker alternative.

The company also addressed concerns over the ability of foreign investors to repatriate proceeds from property sales.

It said foreigners could sell their properties in Ghana and transfer the proceeds back to Nigeria, describing this as an important exit mechanism for investors who might eventually wish to withdraw from the market.

Devtraco also highlighted the importance of conducting transactions through established developers, particularly because of concerns around fraud and questionable property transactions.

The company said it operated within anti-money laundering requirements and conducted Know-Your-Customer and background checks on prospective investors.

Politically exposed persons, it added, were subject to enhanced scrutiny, while transactions suspected to involve illicit funds could be flagged and investigated in cooperation with relevant security agencies.

Beyond Ghana, Devtraco disclosed that it was exploring opportunities in other African markets and was considering establishing a stronger physical presence in Nigeria.

The company, however, said it would not rush into developing properties in Nigeria without first understanding the country’s market, consumer preferences, locations and affordability levels.

This, it explained, was one of the reasons for establishing an office in Nigeria.

“We really want to build here, but we cannot just come and build. We don’t know what you want, where you want it or the price you want it,” a representative said.

The company said Ghana itself faced a housing deficit estimated at 1.8 million units, up from about 1.6 million two years earlier, underscoring the scale of the housing challenge confronting the country.

It disclosed that about half of its more than 2,000-acre land bank was earmarked for low- and middle-income housing, while it was also involved in supporting government housing initiatives.

In addition to Devtraco Woodlands, the company operates across different segments of the Ghanaian property market through Devtraco Limited and Devtraco Plus, offering products ranging from standard homes and bungalows to townhouses and larger premium residences.

On affordability, the company said buyers could access payment plans ranging from 12 to 36 months when financing directly, while bank-financed purchases could be spread over periods of between 15 and 25 years.

Mortgage rates, it said, generally ranged between 11 and 14 per cent, although some banks offered rates as low as nine per cent, depending on the institution and the borrower’s credit profile.

The company urged Nigerian investors to prioritise due diligence and professional advice when acquiring property in Ghana, warning against informal transactions based on personal connections.

It said Nigerians currently accounted for about 10 per cent of its clients, reflecting the existing depth of cross-border interest in Ghanaian property.

With its Nigeria expansion strategy, Devtraco said it hoped to deepen that relationship while positioning Ghanaian real estate as a viable option for Nigerians seeking to build wealth beyond their domestic market.