Real Estate News
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Adjust wages to deal with housing deficit – Government told
Government has been urged to take a look at the salary levels of workers to address the increasing housing deficit in the country. Chairman of Comet Properties Limited, Nana Odeneho Kyeremateng said wage level in the country are too low enable many workers afford a decent accommodation. Speaking to George Wiafe on PM Express Business Edition, Mr Kyeremateng...[READ MORE]
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John Lewis gets into Build To Rent space with 10,000 initial delivery
Another new Build To Rent player is emerging - in the unlikely form of the John Lewis Partnership. The company has long let it be known it wants to get into the private rental sector but now more details have emerged. The retail giant is to build some 10,000 rental units through joint ventures with established developers. Plans for some...[READ MORE]
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Foxtons shareholders revolt amid huge loans on Government Coronavirus support
Foxtons to review boss's pay after shareholder revolt Shareholders at the estate agency Foxtons have revolted against pay packages including a near £1m bonus for the firm's chief executive. Almost 40% of investors voted against its annual pay report at the company's AGM today. [READ MORE]
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Dr. Freda Akosua Prempeh, calls for stakeholder engagement in the real estate sector
The Minister of State, Works and Housing calls for a well-coordinated stakeholder engagement in the real estate sector to curtail activities of money launderers She said that was crucial given the advancement in technology and “our borderless world,” which was making it increasingly difficult to follow the financial trails of criminals. The Minister said money laundering was a form of financial crime, which had become sophisticated and prominently manifested currently through the real estate market. She said such criminals integrated illegally acquired funds into legal economies, to provide safe investments through the use of either direct cash to purchase properties or fictitious names to purchase properties, or the use of third parties and front men to purchase...[READ MORE]
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Ghana Property Hotspots 2021
Ghana Property Hotspots: Where are Ghana’s Property Hotspots 2021 The past year has been a rollercoaster for many people and businesses. We have all been forced to evaluate our operating practices and strategies Takoradi stands on the cusp of unprecedented growth and in good stead to be one of the giants of Africa. Thanks to the significant expansion from the Oil & Gas industry and the continuing abundance in resources such as gold, timber, and cocoa. Takoradi has become the operational capital of the upstream segment of the Oil & Gas industry. Takoradi is on the verge of becoming the administrative capital of the Oil & Gas industry. The Ghanaian Government is moving, its most concerned headquarters to Takoradi. The seaport is undergoing a major upgrade to enable the accommodation of bigger ships. In a region where electricity bills can be higher than rent, the Takoradi Mall is a transformational project for businesses in Ghana. The mall conserves resources, allowing tenants to focus on improving their profits rather than paying high utility bills. Located in the rapidly growing port city of Takoradi, a key city for Ghana’s emerging oil industry, the Takoradi Mall is situated in a prime location near the airport and at the intersection of the city’s busiest streets. As the first mall to operate in the community, Takoradi is poised to take advantage of the city’s expanding business sector. The mall contains stores, restaurants and a movie theater. Takoradi conserves natural resources with reflective paint and energy-saving lighting, both of which reduce energy consumption, while features like dual flush water closets conserve water. Construction materials such as solid dense concrete blocks result in a 45% reduction in embodied energy in materials. The green features of Takoradi Mall cost less than 1% of the total and will generate savings of 25% in utility costs. The developer, RMB Westport, is expected to recoup its investment in less than a year and a half. While businesses may prefer to operate in a green building, many are reluctant to pay additional. However, since building green cost RMB Westport very little, they were able to rent storefronts to tenants for the same price as in a conventional building. RMB Westport formed in 2008 as a joint venture between Rand Merchant Bank (RMB) and Westport Property Group. Since then, the development and investment firm has invested in the high potential of growing African countries like Ghana. Takoradi Mall has received final EDGE certification from thinkstep-SGS. King City is a 1,018 ha (2,500 acres) mixed-use land development in the Western Region of Ghana, an area that will accommodate residential and commercial growth associated with the region’s mining and energy sector boom. Situated 10 km from...[READ MORE]
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GREDA”s Amegayibor opt for building more houses with scares resources to Ghana Government Rental Assistance Scheme
The Ghana Real Estate Developers Association is calling on government to channel the resources meant for the National Rental Assistance Scheme to estate developers. According to GREDA, that will help bridge the housing deficit in the country.A GH¢100 million seed fund has been...[READ MORE]
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UK Government to provide funding for housebuilders
The majority of this funding will be in the form of loan finance for house builders, including those using modern methods of construction. A further £100m will fund authorities in 2021/22 to support housebuilding and regeneration – including for serviced plots for self and custom builders. The announcement was made in yesterday’s Spending...[READ MORE]
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Louisa Afriyie Boateng make a case in Real Estate for Employment in Ghana
The Business Operations Manager at Earlbeam Realty, Madam Louisa Afriyie Boateng has hinted that the establishment of the company's office in Ghana will boost the economy and also reduce the unemployment rate in the country. Madam Louisa in an interview highlighted the plans of the company."Moving from London to Kumasi has really helped me a lot...[READ MORE]
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London has seen the third-largest decline at 4.8 per cent since May 2020
Working From Home leads to rent falls in least affordable cities Many of our less affordable cities have seen rent levels drop because of the trend for tenants to work from home and seek larger, less urban properties. That’s the conclusion of lettings management platform Howsy. It’s looked at the current cost of renting...[READ MORE]
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Ghana Government to build 1 million housing units - Works and Housing Minister
Minister of Works and Housing, Samuel Atta-Akyea, has said the government is keen to deliver one million housing units towards addressing the acute housing shortage for the medium to long term across the 16 regions of Ghana.According to him, out of the figure, Greater Accra Region will have 400,000 housing units while the Ashanti Region will have 250,000. Western...[READ MORE]
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