Inside Real Estate with Jolanda Castagna-Episode 3: What Ghana can learn from Dubai’s real estate success

Ghana’s property market is advancing. Designs are sharper, finishes are better, and ambition is clear. Yet, this growth lacks  certain fundamentals that would fully unlock foreign investment. To understand what is missing, a useful comparison is Dubai – not as a blueprint to copy, but as a case study in building investor confidence.

Ownership clarity remains a major constraint

In Ghana, property ownership is often seen as complex and uncertain. Titles are not always systematically registered, sales are not consistently recorded in one central system, and legal enforcement can be slow. This ambiguity invites disputes, raises risk and discourages international investors who need certainty.

Dubai took the opposite approach. There, every property transaction is registered, easily traceable and legally protected. This clarity does more than secure buyers – it generates reliable market data, guarantees steady government revenue and assures foreign capital. Investors choose markets where ownership risk is clear and manageable, not where it must be deciphered.

Infrastructure precedes development

Both Accra and Dubai experienced a surge in modern real estate development from the 2010s onward. Each attracted foreign interest and introduced higher-quality projects. The difference lay not in ambition, but in foundations.

Dubai invested in infrastructure, roads, drainage, utilities, zoning and access, well before large-scale private development accelerated. Crucially, this was done through a centralised town-planning framework that coordinated land use, infrastructure delivery and density at city and district level. Developers operated within a clearly defined structure, where access, services and permitted uses were known in advance.

This sequencing reduced execution risk, kept delivery timelines predictable and lowered overall project costs. Private capital could focus on building and operating assets, rather than compensating for missing public infrastructure.

In Ghana, infrastructure investment has been more constrained and fragmented, with planning, land administration and service delivery spread across multiple institutions. As a result, developers often build first and hope public infrastructure follows. Many end up funding roads, drainage or power connections themselves.

Successful projects still emerge. But they do so from a disadvantaged starting point, carrying higher costs, limited scalability and reduced appeal to institutional and foreign investors.

Confidence is Dubai’s real product

Buying property in Dubai feels safe. Ownership is clear. Registration is structured. Processes are predictable.

That confidence did not happen by chance. It was built over time through consistent rules, enforcement and clarity.

In Ghana, land ownership and title clarity remain perceived risk areas, especially for foreign investors. Even when projects are solid, perception alone can slow decision-making. Global investors do not invest across borders to test systems. They invest where capital feels protected.

The absence of reliable market data

Ghana lacks a central, trustworthy source of real estate data. No one knows exactly how many properties were sold last year, at what prices or how quickly they were absorbed. Information is fragmented, often anecdotal and sometimes contradictory. This lack of visibility distorts pricing, slows decisions and keeps the market illiquid.

In Dubai, transparency is built into the system. Official platforms like the Dubai Land Department publish accurate, timely data- sales volumes, prices, rental yields – drawn directly from registered transactions. Everyone operates with the same facts. This visibility disciplines the market, speeds up investment choices and helps authorities collect revenue efficiently.

Tourism, connectivity and foreign investment

Dubai turned its geography into a global hub, supported by a world?class airport. It then designed laws to actively welcome foreign investors, offering clear ownership rights and residency benefits. The market serves a global clientele – executives, entrepreneurs, families – who value the flexibility to use, rent or sell easily.

Ghana is naturally well?positioned as a bridge between Europe, the Americas and West Africa. Yet this advantage is underutilised in real estate. While foreign interest exists, the processes for buying, registering and managing property are not yet perceived as simple or familiar on an international scale. This gap directly impacts investor confidence.

Closing thought: The systems behind the structures

This is not about copying Dubai. It is about understanding why capital flows there with ease. It is also not intended to discourage investment in Ghana’s real estate market. The sector is improving. Construction quality is rising. Design standards are higher. Professionalism is more visible than it was a decade ago.

Not all parts of a market evolve at the same pace. Physical development can progress quickly, while systems, data and enforceable frameworks take longer to mature. Until those foundations are fully in place, the safest way to invest – especially for buyers without deep local knowledge – is through structure.

That means working with brokers and consultants who prioritise due diligence over promotion, and who allow the quality of the investment experience itself to speak.The real question is not whether Ghana’s real estate market has potential. It clearly does. The question is whether it can scale sustainably without stronger systems to support liquidity, pricing discipline and long-term investor confidence.

The gaps are well known, and no one expects them to close quickly. Structural change requires patience, coordination and consistency. But if the market continues to rely primarily on internal investors, the question remains: will that be enough to absorb future supply, maintain healthy price formation and support long-term growth? That is the issue the market will eventually have to confront.

Jolanda Castagna is the founder and CEO of Akka Kappa Ghana, a leading full-service real estate firm in Accra. With over two decades of experience, she guides clients through development, sales and property management with a focus on integrity and long-term value.

The post Inside Real Estate with Jolanda Castagna-Episode 3: What Ghana can learn from Dubai’s real estate success appeared first on The Business & Financial Times.

Read Full Story