Oil Discovery Boosting Property Investment

Tony Sekyere

Tony Sekyere, Head of Property Management at Broll Ghana Limited, says the discovery of oil and gas in commercial quantities in Ghana in 2008 led to the sudden increase in the number of investors in the property sector.

Mr Sekyere, who spoke to the media after a tour of some property in Accra under the management of Broll Ghana on Tuesday, said the discovery of oil and gas in Ghana drew attention to Ghana’s economy.

According to him, after the discovery in 2008, there has been high demand for quality office space and retail and shopping facilities in the country.

“What you see around is evidence of that sudden economic growth which obviously means that now the Ghanaian shopper is expecting more in terms of formal shopping space and also the normal businessman want quality grade A office to do business in,”  Mr Sekyere told DAILY GUIDE.

Broll Ghana Limited was set up in 2006 as a joint venture between Social Security and National Insurance Trust (SSNIT), SIC Insurance Company Limited and the Broll property group in South Africa.

He added that since its establishment, Broll Ghana has introduced valuation, brokerage, which entails the sale and rental of residential and retail space, among others.

“Prior to being set up here, there was a bad maintenance culture for which we brought in some innovative ideas to make sure that buildings are properly managed.

Broll offers a wide range of commercial property and facilities management services ranging from carrying out rent reviews and lease renewals, maintaining the facilities on site, undertaking planned maintenance to ensure that the property is well maintained and serviced,” he noted.

Mr. Sekyere said the company also advises its clients on the best use of space and “utilizes a rich database of market information to ensure that the client is getting best value for money.”

Journalists were transported to the Achimota Retail Centre at Dome, Nester Square at Airport and Accra Financial Centre in Accra Central, which are under the management of Broll Ghana.

The Achimota Retail Centre was opened on October 29 and covers about 14,622 square meters space and it is anchored by Shoprite and Palace.

The newly-constructed Nester Square is located a few metres from the Kotoka International Airport (KIA). The structure was designed to accommodate commercial offices and retail shops, among others.

The facility houses three major banks-National Investment Bank (NIB), Barclays Bank and UniBank.

Accra Financial Centre boasts of 13,700 square meters of prime office space. Its ground floor retail space is occupied by Vidae Café and Pizza Inn. A major part of its office space occupied by adb.