Ghana Property Awards Held

The Property Express Group in collaboration with the Ministry of Works and Housing has held the 2017 Property Awards at the Banquet Hall, State House in Accra.

The awards, which was on the theme, ‘Exploiting Data to bond Bricks and Mortar Trading, marked the 10th Anniversary of the event and brought together scores of people, especially from the built industry.

Addressing the gathering, Honourable Deputy Minister of Works and Housing, Freda Prempeh, said the government would use an appropriate mix of public policy and public private investments to deliver quality, affordable social housing and private solutions that meet the needs and financial capacity of the ordinary Ghanaian.
According to her, the Ministry would work with identifiable groups and associations to facilitate the construction of homes for their members through the provision of the appropriate financing guarantees.
She reiterated the government’s commitment to promote and develop the use of local building materials in the construction of buildings as well as facilitate the development of an active mortgage market to expand mortgage loans to Ghanaians.

The Deputy Minister therefore, called on the players in the real estate industry to do more in helping to achieve lower costs of construction through designs which use good alternative local materials.

Touching on the Real Estate Agency Bill, Honourable Freda Prempeh said the Ministry would be re-submitting the reviewed Bill to Cabinet and later to Parliament for consideration.
She explained that the Bill would go a long way to help regulate real estate brokerage practice and practitioners, real estate transactions as well as prevent the use of real estate transactions for social vices.
She said the Bill would also provide for the training and licensing of estate brokers and require estate brokers to provide bonds as guarantees to operators in the property market.

The Chairman of the ceremony, Mr. Kofi Anokye, appealed to the Government to pay particular attention to the construction industry since it could employ people and reduce the unemployment situation in the country.

Some real estate developers that took home awards included, Adom City Estate and Company Limited won the Best Residential Developers 2017 for the lower income category; CPL Developers Limited won the Best Residential Developers for the middle income category, while Mayfair Estate Limited emerged winner of the Best Residential Developer for the upper income category.
Also, Broll Ghana Limited won the Best Property Management Company of the year; Berock Ventures Limited won the Best Commercial High Rise Developer, while Emerald Properties won the Best Development Marketing Company.

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