Background:
An investor purchased an off-plan apartment in Accra from a reputable developer, expecting timely delivery and high appreciation value. However, unforeseen project delays due to poor project management, funding issues, and regulatory setbacks disrupted the timeline, leading to financial losses and uncertainty.
Challenges Faced:
- Project delays exceeding contractual timelines
- Lack of clear communication and updates from the developer
- Escalating costs due to delayed delivery and inflation
- Difficulty in enforcing contractual obligations and seeking compensation
How The JEN Group Could Have Helped:
- Pre-Investment Due Diligence: Conducting a thorough assessment of the developer’s financial stability, project history, and execution capacity.
- Contract Structuring & Legal Advisory: Ensuring strong legal provisions with penalty clauses for delays, investor protection clauses, and escrow structures for milestone-based payments.
- Project Monitoring & Risk Management: Providing real-time oversight on project execution, identifying early warning signs of potential delays, and working proactively with the developer to mitigate risks.
- Dispute Resolution & Compensation Recovery: Assisting the investor in negotiations, seeking alternative solutions, and ensuring fair compensation for delays.
- Investment Optimization: Advising on potential exit strategies, resale opportunities, or alternative property investments to mitigate financial losses.
Outcome:
Had the investor engaged The JEN Group before purchase, they would have been equipped with stronger legal protections, better investment structuring, and real-time monitoring, significantly reducing risks associated with project delays. With our expertise, investors can navigate Ghana’s real estate landscape with confidence and secure profitable investments.