The President of the Ghana Real Estate Developers Association (GREDA), Mr. Patrick Ebo Bonful, has expressed concern over the escalating cost of construction materials, which is posing a significant challenge to the provision of affordable housing for the people of Ghana.
Mr. Bonful noted that GREDA, which has contributed to the development of approximately 50,000 units of affordable housing in partnership with the government, is currently grappling with several issues, including taxation and land disputes.
Speaking at the media launch of GREDA’s 35th-anniversary celebration and the 2022 awards ceremony in Accra, Mr. Bonful emphasized that while its members were managing the situation, the government needed to swiftly implement sustainable measures to address their concerns.
He proposed that, if possible, the government should consider offering tax incentives to businesses, including those in the real estate industry, in order to lower production costs, as these businesses are currently facing financial difficulties.
“As for increasing in building materials, is adversely affecting our business but we are coping somehow, and just hoping that there will be some form of stability to keep our prizes as low as possible.
These are the reasons GREDA is calling for a stronger collaboration with government to look at areas that can help both government and industry players to provide cheaper buildings for Ghanaians,” Mr Bonful said.
There are approximately 29 categories of awards that will be given out, according to Madam Doris Adabasu Kuwornu, a Director of Oakfirm Limited.
She emphasized that letters will be sent out asking people and organizations to nominate candidates for the various award categories and that the award dinner dance would take place on November 25, 2023.
“Nominated candidates will be required to complete a very detailed questionnaire to justify why they should be the preferred choice.
The completed questionnaires and supporting evidence are to be reviewed with the support of a focus groups of evaluators drawn from housing and construction sectors who will award marks per an approved marking scheme,” Madam Kuwornu said.