Ghana’s building and construction market are ripe with tremendous opportunities. This growth has been spurred by an increase in demand for both residential and industrial properties.
Unmet needs lead to growth opportunities in the areas of construction and real estate development and management.
The property market is dominated by residential and commercial developments. The residential market is the most active, registering an estimated 85,000 transactions per annum over the past decade, according to Ghana Investment Promotion Company (GIPC).
Commercial property is the second-largest segment in the market and includes office accommodation and retail space.
The industrial segment is significantly smaller in size than the commercial market, while recreational and civic or cultural property development is virtually non-existent.
Despite the spike in the sector, experts predict that the housing deficit in Ghana is in excess of one million homes. And to address this deficit, there is a need to deliver approximately 150,000 housing units per annum for the next 20 years.
According to Samuel Amegayibor, the Executive Secretary of the Ghana Real Estates Developers Association (GREDA), the total housing shortage in the country will hit 5.7 million units by the year 2020. And more than 50% of Ghana’s population live in substandard houses.
That means this industry will keep growing regardless of market shocks and economic uncertainties.
Enters Tika Mall, the builders market and home for all things construction and building materials TIKA Mall Ltd sees the stated housing challenge as a market opportunity to build Ghana’s first full-service mall that provides a full range of products and services in construction and building from foundation laying to property management.
After extensive market research, the team realized the need for a platform and company in Ghana that offers a comprehensive, end-to-end service in construction and building materials.
And by creating this building material and construction equipment mall, they hope to ease the pain and hurdle people go through while building their homes or securing properties in Ghana and beyond.
TIKA Mall Ltd aims to strategically position itself as a one-stop shop by offering consumers the best possible advice, top-of-the-line products, and world-class services at the intersection of cutting-edge technologies, processes, and procedures in the building and construction sector.
According to the team, TIKA Mall Ltd will be concentrating on only one market segment at this initial stage of the company’s growth milestone. The target market for the business will primarily be composed of residential property development and management and sales of construction equipment and building materials.
That is based on their understanding of the entity’s capacity as well as instrumental factors such as profitability, industry growth, the company’s growth potential, and business risk factors.
What does Tika Mall Ltd offer its clients?
With over 300 product lines so far, TIKA Mall Ltd will reach a broader market by targeting both the residential and commercial market segments in the near future.
As an online and offline market, TIKA Mall Ltd offers clients unmatched end-to-end real estate solutions through a full range of products in Building Materials, Construction Equipment, Construction Chemicals, Pipes and Fittings, Walls & Flooring, Home Automation, Sanitary Installments, Electricals & Furniture, Purchase, Rent, and Managing of Properties, Interior & Exterior Decor, Architectural Services, House Painting, and much more.
Visit their head office at Tema Community 25 for a fabulous shopping experience! For more information about their work, kindly contact the team at 020 677 2216.
Source: Ghana Web
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