Mobus Property Holdings Ltd
Thinking Outside the Box Writer: Emily JarvisProject Manager: Stuart Parker Since speaking with Mobus Property (Mobus) just over a year ago, considerable efforts have been made to strengthen the Company image through an extensive rebranding strategy that addresses every aspect of the value chain. Now boasting more than US$100 million of property development on the books and more than 150,000 square metres of land under development for commercial, residential and industrial purposes, the Company is leveraging its high levels of success in order to move into new countries and also explore medium-sized residential developments to further expand its portfolio.“Given the unexpected loss of our Chief Executive Officer (CEO) last February, we have been working hard to come back stronger, and also show the public a front of solidarity; that Mobus is here to stay and will continue to uphold if not exceed the same values and standards that we were known for before,” says the new CEO, Kojo Ansah Mensah.With this change in senior management comes a new aptitude for project fundraising, investing in more assets and brand upliftment in order to improve access to long-term capital to sustain the Company into the future.New marketsWith the award-winning Knight Court apartment complex in Accra completed and 100 percent sold, and the Phoenix villas cluster development in East Legon nearing completion, Mobus is focusing its energies on geographical expansion into other West African markets; starting with Nigeria.Mobus Property had previously focused on the high-end segment of the commercial and residential markets, but economic dynamics in Ghana have pushed the Company…
Mobus Property Holdings
Moving up the ladder Mobus Property Developments CEO Richard Jonah talks about the company plans to combat the housing deficit, and their award winning developments across Ghana Writer Emily Jarvis Project manager Arron Rampling Mobus Property Developments is a property development firm founded in 2010 by the current CEO Richard Kojo Jonah. It is a privately owned company, mainly focused on commercial property development, offices and retail centres. On an opportunistic basis the company has also embarked on a number of residential developments aimed at the middle to upper market segment. Richard Jonah, spoke to Africa Outlook about some of the company's challenges and the need for residential housing in Ghana given increasing urbanization. Biggest Challenge Like most property developers in Sub- Saharan Africa, Jonah outlined that it is access to long term capital that is the company's biggest challenge: "Property development is a long term game, therefore it helps if you can secure cheaper sources of long term capital," which Mr Jonah adds is quite difficult to do in local markets given the volatility of currency and the limited balance sheets of many local banks. Jonah's second challenge when assessing various opportunities is to do with land tenure. "Most lands in Ghana are privately owned as opposed to owned by the Government. One of the biggest issues our local courts have to deal with issues of land litigation, tenure and the subsequent fighting over land title. Being able to secure a good piece of land with a clean title and with no claims can prove…
