JL Properties has stated its intention to construct 10,000 new housing units in the next 10 years as part of its development plans. According to management of the company, the move is geared toward playing a significant role in addressing the country’s housing deficit – estimated to be around two million housing units.
The 10,000 housing units will include prime urban communities, peri-urban communities, studio homes, nurses and teachers’ quarters among others across the country’s various regions.
Executive Chairman of JL Properties, Dr. James Orleans Lindsay, outlined this ambitious plan in his address at the 10th anniversary launch of the company. He stated that over the past decade, the fully Ghanaian-owned company has developed over 1,000 residential houses within prime areas in Accra singlehandedly, and seeks to take its operations a notch higher.
“We believe in planning, and everything we do here is based on short- to long-term planning. In the next 10 years we are ready and certain that we will build about 10,000 housing units across the country. Already, plans are far advanced to do something around 4,000 in partnership with one of the big state institutions over the next two years.
“Again, we are having discussions with Korle-Bu Teaching Hospital to develop a 1,500 housing-unit model for their staff. Beyond that, we also have other several development plans in the pipeline that will end up giving us over 10,000 units by the next decade.
“These housing units will be dotted all over the country, from Accra to Kumasi and Tamale among others. We are also considering a micro-city with about 2,000 housing units, fitted with all social amenities and properly serviced to attract top-class officials from the city to such a location,” he said.
He disclosed that in the company’s quest to bridge the housing gap, its business model is tailor-made to meet the ever-growing clients’ expectation – with options for clients who want specific features and designs which fall within operational development.
With the cost of housing rising consistently for the past decade, making it difficult for even the middle-income level class to acquire urban properties, JL Properties has indicated that going forward 30 percent of its housing units will be geared toward the social housing model or affordable housing to meet demands of this target group.
Dr. Lindsay further reiterated that with a vison to be the most preferred real estate firm in Ghana and the West African sub-region through continuous investment in valuable residential homes and commercial properties, JL Properties has already penetrated the Sierra Leone real estate space through a partnership with its government – and plans are far advanced to enter the Nigeria and Cote d’Ivoire market.
JL has fully secured gated estates in Achimota Golf Hills- Selby and Lindsay Gardens, Adenta-Dickson Place, East Legon-Lindsay Haven, East Airport- Lindsay Nest, and Roman Ridge- Lindsay Legacy among others.