Cosmo Developers and Fimex Ltd have outdoored a new residential project, Saareeyaa, aimed at addressing the growing housing needs of middle-income earners in Ghana. The unveiling took place on Saturday at the Movenpick Ambassador Hotel in Accra, where project details were shared with real estate professionals, investors, and the media.
The development, currently under construction in Labone, includes a range of flexible purchasing options, including a rent-to-own model, mortgage-assisted plans, and outright sales. According to the developers, these options are designed to make homeownership more accessible to working professionals and families who are often excluded from traditional financing structures.
Ghana faces a national housing deficit of over 1.8 million units, driven by rapid urbanisation and limited access to affordable financing. Despite a rise in luxury developments across Accra, many remain unoccupied as middle-income earners struggle to meet high upfront costs and rigid payment structures.
Saareeyaa introduces an alternative approach. Buyers are expected to make part payment during the construction phase and complete the balance over a two-year period after handover. They may live in the unit or rent it out during the repayment period.
“This model is not aimed at replacing the market but opening it up,” said Nadine Jaber, CEO of Cosmo Developers. “We’re trying to include a group that’s typically left out, not by lowering quality or price but by restructuring the pathway to ownership.” She added that early buyers are able to personalise their spaces. “When you invest early, you get to design your own space. That’s why we call it ‘design for living.’”
Abdul Latif Fawaz, Founder and Managing Director of Fimex Ghana Ltd, said the model is intended to serve clients who are often excluded from formal property acquisition systems. “We realised that a significant portion of the market wants to own, but the current structure simply doesn’t support them,” he said. “Saareeyaa is an attempt to respond to that segment, not just with payment terms, but with dignity and long-term usability.”
According to Fawaz, the project also integrates thoughtful design with practicality. “We believed in homes with gardens more than apartments. But with today’s urbanisation, we’re adapting. Saareeyaa brings vertical housing while still including landscaped areas, a pool, and amenities that let families live comfortably.”
Once completed, the development will include studio, one-bedroom, and two-bedroom apartments, alongside a rooftop pool, gym, landscaped areas, backup power systems, and 24-hour security. Though these features are standard in premium developments, the developers say Saareeyaa is targeted primarily at salaried workers and middle-income households.
At the unveiling event, industry professionals expressed strong support for the initiative.
“This is exactly the kind of model the market needs right now,” said a real estate consultant who attended the event. “It’s practical, it’s relevant, and it has the potential to reshape how we think about urban housing access in Ghana.”
Another industry consultant, who has worked with both Cosmo Developers and Fimex Ltd on previous projects, described the developers as resilient. “Both companies have been through difficult market cycles and remained consistent. If there’s any group that understands how to deliver housing without cutting corners, it’s them,” he said. “They may not always take the flashiest approach, but they’re reliable, and that matters in this market. When they commit to a project, they see it through, even when conditions shift.”
With delivery expected in the coming months, Saareeyaa will test whether flexible ownership models can succeed in a market that has largely focused on high-end buyers. Investors and prospective homeowners alike are watching closely, with many viewing the project as a much-needed shift toward inclusive urban development.
