UT’s complete home solution for home-buyers

Housing is one of the critical physiological needs of man identified by Abraham Maslow in his theory of human motivation. However, there is a growing deficit in housing -- particularly in developing countries.

In Ghana, about 1.7million housing units are needed to bridge the yawning gap. However, without the capacity to house the entire population, the private sector has stepped in to provide housing solutions to people from all walks of life.

UT Properties, a subsidiary of the UT Group, represents one of the fast-growing housing developers in the country.

UT Properties was formed out of the real-estate department of the company barely five years ago, according to Mr. Kojo Kwakye Owusu, Managing Director of UT Properties.

As the parent company started growing, there was the need for the company to create a department to manage the company’s landed properties. This led to the birth of UT Properties five years ago, he said.

Today, the company offers complete affordable housing solutions for both high-end and middle-level income earners. The company has developed complete housing solutions that suit all segments of the population.

“We do facility management for the UT Group, large corporate organisations and private individuals. We have architects in-house who design houses; we do evaluation of properties, and also register landed properties for our clients.”

The company’s flagship development, the 118-unit gated estate "Ubuntu Courts", sited at the foot of the serene Aburi Mountains, represents the height of congenial living and is suitable for working individuals and families.

The two- and three-bedroom houses are built to world-class standards and have all the requisite social amenities -- water, electricity, tarred roads, 24-hour security, swimming pool, shopping centre and a tennis court.

The plush development has its own unique water supply system that is self-sufficient and sustainable. Residents therefore do not have to rely on Ghana Water Company for a regular supply of water.

Mr. Kwakye Owusu said: “Over the past three years we have been able to develop Ubuntu Courts. It’s sold out. We are very responsive to the need of home owners. We work very closely with the residents association to address any issues they may have. There’s also provision for a clinic and gym in quite refined settings”.

Critical to the location of Ubuntu Courts is its proximity to central Accra. It is just about 5 minutes from the Adenta Barrier and 20 minutes drive from the Kotoka International Airport (KIA).

The development of Ubuntu Courts has also taught us something about the appreciation in the value of houses in the Ghanaian property market. The value of the houses has more than tripled over a three-year period for its owners.

Up-coming development -- Oyibi project

With a strong focus on building affordable houses for Ghanaians from all walks of life, UT Properties has acquired acres of land at Oyibi, a suburb of Accra, to develop 200 housing units.

The development, to be sited in one of the fast-rising enclaves in the capital, will have tarred roads, swimming pools, electricity, reliable water supply, 24-hour security and a recreational area.

Mr. Kwakye Owusu said: “We will be breaking ground for the Oyibi project in August. The 200 housing units will be built to world-class standards, and have all the amenities that made our Ubuntu development a sell-out”.

Oyibi is a bustling town of nestled in the North eastern part of Accra. It boasts reliable water and electricity supply, a University -- Valley View University; and plush new housing settlements.
It is about 45 minutes drive from the Accra city centre, and just about 20 minutes drive from the Adenta barrier, and 35 minutes from the Kotoka International Airport (KIA).

Construction of the dual-carriage Legon-Adenta road makes the area one of the most sought-after in the capital.

Salaried workers qualify for housing mortgage to acquire the homes we build, Mr. Owusu said.
“We work with UT Bank to offer 15-year mortgages to salaried workers. They also offer a unique seven-year mortgage for Small and Medium Scale Enterprises (SMEs). This means that if I am a business owner and don't get regular income, I can go to UT Bank and they'll give me up to seven years to pay.”

UT Properties, in its quest to bridge the housing deficit, will next year offer housing solutions to cover the entire spectrum of housing in the country, Mr. Owusu assured.

By: Dominick Andoh| thebftonline.com| Ghana