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The Future of Real Estate Development and Investment in the Accra City Regi...

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UDS Guesthouse, near Ghana Police Headquarters, Cantonments-Accra

Ghana

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ABSTRACT: The Future of Real Estate Development and Investment in the Accra City Region: A Dynamic Simulation of Emerging Investment Opportunities

Urbanization which has been particularly rapid in Sub-Saharan African poses as much opportunities as challenges to various urban actors. Whiles developers for instance, seek to maximize the positive externalities it presents, local planning authorities are faced with the challenge of ameliorating the negatives thereof. The pursuit of these interests is however premised on sound decision making which in itself is grounded in some appreciation of the future in terms of likely urban development patterns. By way of developing decision support tools for developers, local authorities and other urban actors in Sub-Saharan Africa, this research makes use of Cellular Automata (CA) artificial intelligence technique to simulate the likely future urban development pattern of a West African city, Accra. The research relies on wide range of spatially explicit data acquired through remote sensing approaches, processed with GIS techniques, calibrated and simulated with CA model, SLEUTH. Taking into consideration the spatio-temporal patterns of development in Accra over the past two and half decades, the model predicts that, by 2050, urban development will be generally skewed towards the western parts of the city and the proportion of the city-region’s land developed is simulated to increase from 15 percent in 2015 to about 40 percent, posing serious challenges to urban planning and management, and threats to sustainable development. In addition to highlighting the urgency of implementing urban growth management strategies, the research concludes that, dynamic urban modelling approaches can serve as vital decision support tools for not only guiding real estate investment but also informing urban planning and management policies in Sub-Saharan African cities.


CONCEPT: GHANA PROPERTY & PLANNING FORUM

The Ghana Property & Planing Forum (GPPF) is an industry-focused platform that provides a valuable opportunity for practitioners, academics, regulators and the general public to interact with the best real estate minds in Ghana. It is a monthly seminar series involving 30 - 45 minutes presentations on industry-relevant topics by experts in the field. This lifelong educational offering of the PPIT is also intended to be a preparation programme for those wishing to undertake more formal education in real estate, spatial planning, construction and infrastructure.


Key Objectives
1. To promote evidence-based in-depth discussions on the pertinent issues facing real estate investment, finance, development and management; construction and infrastructure development; and spatial planning in Ghana;
2. To present a singular forum for debate, collaboration and networking among industry players from all regions of the country;
3. To create a market platform for developers and investors to present their projects for partnerships and financing;
4. To bridge the existing wide theory-practice or academia-industry gap in Ghana.

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UDS Guesthouse, near Ghana Police Headquarters, Cantonments-Accra

Ghana

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