2018 GHANA PROPERTY AWARDS HELD
The eleventh edition of the Ghana Property Awards which hosted key industry players in Property and Infrastructure Market in Ghana, has been held at the World Trade Center in Accra. Speaking at the event, the Hon. Deputy Minister of Works and Housing, Freda Prempeh, said the government would employ a construction method that will make housing cost reasonably affordable to Ghanaians.
The Deputy Minister therefore, charged the real estate industry professionals to come up with innovative construction ideas such as the use of local materials like clay and wood in order to help reduce the cost of houses in the country.
She revealed that a Real Estate Agency Bill that will regulate real estate brokerage practices and practitioners, real estate transactions, as well as prevent the use of real estate transaction for social vices has reached an advanced stage and will be re-submitted to Cabinet for review.
The Chairman for the occasion, Prof. Kofi Anokye, cautioned real estate developers to focus on using monies given to them by their contractors for the intended purposes rather than diverting them for projects beneficial to them.
According to Mr. Ebo Bonful, President of the Ghana Real Estate Developers Association (GREDA), every country’s development is based on infrastructure and therefore urged the Government to take keen interest in sanitizing the real estate industry, which forms part of the infrastructure sector.
He suggested that, government should take land from Allodia owners in lieu of cash in order to help solve land litigation issues, saying “we need to take steps to stem the dangerous tide of land litigation with its attendant toll on investment and economic wellbeing of our country.’
Madam Irene Ayenkwa, Director of Ghana Property Awards, noted that infrastructural development has a multiplier effect on the economy, adding that the construction industry creates lots of direct jobs and ancillary businesses in addition to having the housing facility itself.
She appealed to the Government to provide among other infrastructures like roads, electricity and water to facilitate the work of the industry players in infrastructure. She lauded the awardees for their efforts and achievements in executing their mandate.