Ghana’s largest and prominent Real Estate Company, Devtraco Limited has emerged the ultimate winner of the 7th edition of the Ghana Property Awards 2014 held in Accra over the weekend.
With a massive turn up of local and international construction firms, the events commenced with a welcome address by Dr. Alex Tweneboah, chairman of Ghana property Awards. Other companies received honours in diverse categories for their contributions in the housing sector.
Dr. Tweneboah, in his open address said the construction sector is the economic engine for the growth the country. He also mentioned that new initiatives in the real estate sector are being explored through Public Private Partnership (PPP) to ensure that, average Ghanaian worker can afford a decent housing unit.
On her part, the Director of Ghana Property Awards, Irene Agyenkwa stated that lack of resources despite brilliant initiatives for the industry are some of the key challenges hampering the growth of the sector.
“It is therefore crucial for private sector players to partner with the public sector to implement measures that will ease the burden on average worker in acquisition of land property as it remains one of the most sought after need by this generation,” she said.
Accoding to Madam Agyenkwa, other challenges that confront the sector include difficulty in accessing funds, interrupted power supply, high interest rates, high taxes impose on imported materials among others.
This she said needs urgent stakeholders’ attention to address them in order to enable estate companies construct very affordable housing units to help put roofs on the heads of many Ghanaians.
Mr. Johnny Osei Kofi, deputy minister of Water Resources Works and Housing, addressing the gathering said that infrastructural demands currently in the country far exceeds the available housing needs of the people.
According to statistics, Mr Osei Kofi said housing deficit in the country currently is in excess of 1.7 billion, and therefore called on investors to help salvage the situation.
“It is common to find plush apartments springing up all over of late but how many ordinary Ghanaians will be able to acquire one considering their income, it would be economically beneficial therefore to build for the middle income earner to improve living conditions in this country,” he said.
The minister also observed that, government remains committed in providing adequate, safe and affordable housing to all and urged the private sector to take advantage of the policies to help solve this quandary, “Many of our people currently live in slums, once this is done, is would to a larger extent address the 1.7 billion housing deficit in the sector,” he noted.
Below are winners for other categories
Developer of the Year for Lower Income Earners - Lakeside Estate
Ultimate Plot Provider of the Year - Tema Development Corporation (TDC)
Furniture Company of the Year (Custom Made) - KG Furniture Company Ltd.
Valuation Firm of the Year 2014 - Broll Ghana Ltd.
Student Training for Real Estate Club - University of Ghana, Legon Real Estate
Input Supplier of the Year - Black pack agents
Retail Facility Supermarket - Palace Hypermarket
Special Recognition Award - Angel Estates and Construction
Property Developer of the Year (offices) - Berock Ventures Ltd.
Best Infrastructure of the Year – KG Lighting Supplies Company Ltd.
Furniture of the Year 2014 - Furniture City Ghana
Brokerage Company of the Year - Broll Ghana Ltd.
Best Architectural Project (Best Design Project Building) - Acacia Build Ltd. Developer of the Year (Middle Income) - State Housing Company Limited Ltd.
Developer of the Year (Upper Income) - Whitewall Properties
Property New Comer of the Year (Mixed use) - Mabani Actis Joint Venture
Property Input Supplier of the Year (Distribution) - Kwasi Oppong Company Ltd.
Property Personality of the Year – Alhaji Kwaku K. Saliah
Upcoming Developer of the Year - Danny Wise Estates
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