Property developers must commit resources to affordable housing - Abongo

Accra, June 18, GNA - The Minister of Water Resources, Works and Housing, Mr. Albert Abongo, on Wednesday launched the second edition of the Ghana Property Awards 2009 in Accra with a call on stakeholders, to commit resources into affordable housing, which still attracts huge demand.

For this purpose, the Ministry is ready to support the Ghana Real Estates Developers Association (GREDA) with land from its land banks. The event, which is scheduled for July 17, 2009, and being organised by Property Express in collaboration with GREDA and Haier Themocool, is on the theme: "Creating a Sustainable Income in Today's Environmental and maintenance Cultured Industry." The Ghana Property Awards, which is one of the most prestigious awards of the property industry, provides immense value to developers, service providers and retail buyers.

This year's event, which will focus on the financial sustainability of the project of the buyer and maintenance issues, will also assess how the projects benefits host communities, using integration of people and settlement ease as assessment criteria. The awards will also look at environmentally friendly factors, which are becoming increasingly important for both local and international awards and public awareness on 'green' issues. Prospective participants are to contest for prizes in 23 categories.

Mr. Abongo said government was committed to a nationwide urban renewal programme for which the key approach would be the development of technical support schemes and the creation of effective institutions. The Minister noted that in this age of falling building standards and its associated problems like unprofessional players in the property industry, it is important for the sector to be monitored and also reward excellence.

He bemoaned the fact that a majority of Ghanaians lack the maintenance culture as could be seen from a number of buildings that are physically obsolete and structurally sound but left to run into economic and functional obsolescence.

Mr. Abongo said it was also important for all stakeholders in the industry to begin to play their respective roles in the delivery of housing in a way that would sustain the environment and ensure the utilization and promotion of local building materials.

Mr. Emmanuel Botchwey, Executive Chairman of Regimanuel Gray Limited, stressed the need for both public and private property occupants to embrace the environmental and maintenance culture. He said Regimanuel Estates did not believe in the concept of build, serve and forget but that of build serve and maintain with all the ramifications that this entailed.

"We collaborate in a well-defined way to ensure that the maintenance of our physical structures and the environment are not compromised," he said, adding that at the inception of sales, the company impressed upon its prospective purchasers their role in maintaining their property."

Mr. Botchwey said Regimanuel Estates had established a subsidiary and a home owners association with maintenance committees to ensure a high level of maintenance.

The company also charges each occupant of their estates a monthly service fee to cover infrastructural repairs, and user fee for the collection of refuse. Dr Alex Chinbuah, President of the GREDA, observed that the property market was the most important aspect of any economy, with links to the land, skills, labour and financial markets with tremendous impact on development.

Housing, he said, could assist in reducing poverty, and urged government to pay attention to property developers to enable them to provide affordable housing for the people. In conjunction with the launch of the event, Ms Irene Agyenkwa, Director of Property Express Ghana, launched a raffle that sells at Five Ghana Cedis and attracts good prizes such as a two-bedroom house.