Prestige by i2 Development drives Ghana’s post-pandemic economic recovery

The rebound of Ghana’s real estate development and construction sectors has played a pivotal role in revitalising the national economy after the COVID-19 downturn. The construction sector alone registered 9% growth in the first three quarters of 2024, contributing significantly to the 6.3% expansion of the non-oil sector. This resurgence underscores the sector’s influence on employment, consumer confidence, and broader industrial performance.

A prime example of this transformative growth is Prestige by i2 Development, strategically located within the Kotoka International Airport Enclave. According to Youssef Aitour, Co-Founder and Managing Director of i2 Development, landmark real estate projects such as Prestige create jobs, stimulate trade, and attract investment, serving as catalysts for sustainable economic development.

Industry studies show that Ghana’s rental yields range between 19.3% and 22.0%, with hotspots like Airport City, East Legon, and Airport Residential Area achieving occupancy rates of 70–80% annually. Prestige contributes to this momentum, offering both investors and residents high-value opportunities while enhancing urban infrastructure. The project is expected to generate over 3,000 direct and indirect jobs, from engineers and architects to service providers and local businesses, thereby reducing unemployment and boosting community livelihoods.

Beyond employment, Prestige is designed to attract domestic and foreign investments by creating a modern, sustainable, and commercially vibrant hub. Its strategic location at Kotoka International Airport positions Ghana as a stronger business and tourism destination, bolstering visitor inflows and reinforcing the nation’s global profile. Mr. Aitour also stressed the project’s commitment to sustainable building practices, ensuring resilience against climate change while elevating the quality of life for residents and visitors.

The Prestige development stands as a testament to how real estate can power national growth, combining infrastructure improvements, employment creation, and sustainable urban planning. It exemplifies the broader role of construction in shaping Ghana’s post-pandemic recovery and economic future.