Design Express Ghana commissioned corporate interiors
And why not, investors are certainly getting rich. The real estate development market in Ghana is to put it bluntly – ridiculous. With a housing deficit of almost 1.7 million units, Accra is one of the most expensive cities for housing in Africa outside of Lagos. An average two-bedroom apartment in one of the city’s prime neighborhoods like East Legon costs upwards of $350,000. Corporate rentals can increase by close to 20% per year which encourages clients to lock in leases with 2-3 years’ worth of upfront payments. Cranes are a quasi-permanent fixture. One Airport Square, Ghana’s first environmentally certified building currently in development is a 20,000m2 office building not far from the airport and The Exchange, which is intended to be hybrid facility of 75,000m2 for offices, retail, and housing, will soon break ground. The owners of Movenpick Hotel are now moving to the residential segment, launching a luxury villas experiment - Ambassador Heights. Other name brand hoteliers have flooded the market since 2009 including Marriott looking to put up a 209-room asset by end-2014. With the nascent oil industry creating a class of overnight millionaires, everything looks up for the indigenous interior design industry.
Some may read this with furrowed eyebrows. With a poverty rate of 26% in 2012 surely Ghana cannot be ready for interior design professionals? Not according to CEO and Creative Director of DAAR Living, Senanu Arkutu the latest market entrant. “This service is unfortunately a luxury but this is so in any country and will only ever be done by the few. But in Ghana, this is an emerging area and it will continue to grow.” Senanu left a decade-long career in reproductive health and international development to follow her passion, lamenting the constant need for Western importation. Her brand supports local artisanry. In contrast to posh Westernized retailers, like La Maison and Casa Trasacco, the guiding principle of DAAR Living is interior accessories and services for the ‘African of the World and the World in love with Africa’. “I would like to see more Ghanaians and Africans in general decorate with African influences in a non- ‘craft market’ way.” >>> 19| www.afroellemagazine.com