At a time that the nation is experiencing a boom in the construction sector, and the cost of building material is said to go over the roof, the first building material and construction equipment mall has been established to ease the burden of the average Ghanaian. The company helps provide convenience and competitive pricing to people interested in building their homes or venturing into the real estate sector.
The online and offline market offer clients unmatched end-to-end real estate solutions through over 300 lines of products in Building Materials, Construction Equipment, Construction Chemicals, Pipes and Fittings, among others.
By creating this building material and construction equipment mall, the team hopes to ease the pain folks go through while building their homes or securing properties in Ghana and beyond.
Located in Tema Community 25, TIKA Mall is coming when Ghana’s building material and construction market are ripe with tremendous opportunities. This growth has been spurred by an increase in demand for both residential and industrial properties.
Residential and commercial developments dominate the property market. 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.
On the back of this, TIKA Mall 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 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 and instrumental factors such as profitability, industry growth, the company’s growth potential, and business risk factors.
The housing deficit in Ghana creates a huge business opportunity in real estate
Ghana currently has a housing deficit of two million units. And to address this deficit, experts predict there is a need to deliver a minimum of 170,000 housing units per annum for the next 20 years.
Add to that, the Minister of Works and Housing, Francis Asenso-Boakye, believes that 60 percent of Ghana’s population would need some form of government assistance to get access to housing. In comparison, 35 percent would not access housing even with government support in terms of subsidy.
Businesses like Tika Mall complement the government’s efforts by helping average Ghanaians experience the dignity of owning their own homes while creating jobs for the teeming youth.