African Property Video News 30/03/23

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The Director General of the Ghana Standards Authority (GSA), Professor Alex Dodoo, has called for strict implementation of Ghana’s building codes

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E-property residence visa system in Dubai  to improve the experience of real estate investors

African Cities Ignore Middle Class Housing Needs – Report

According to a report by Estate Intel, continued market activity in the construction of luxury and high-end housing in Africa’s largest cities has created a huge gap between demand and supply for people with low incomes.

The report, says  housing developers dominate Africa’s grand cities, it  found that the demand for affordable and inclusive housing systems in cities does not meet the target set by the government and some property developers.

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According to the report, unprecedented demand for vacation homes and investment properties has shifted the focus away from affordable housing construction in Accra, Lagos and Nairobi.

It said unprecedented demand for holiday homes and investment properties has shifted the focus away from affordable housing development. Since then, Accra, Lagos and Nigeria have responded with new residential developments to focus on the luxury aspects of the market.

A common theme in all three cities is that real estate developers hold the largest share of each housing market and focus primarily on luxury.

Data tracked by Intel shows that property developers in Lagos have 66.2% of the total market share; compared to state institutions and individuals.

The Director General of the Ghana Standards Authority (GSA), Professor Alex Dodoo, has called for strict implementation of Ghana’s building codes

The Director General of the Ghana Standards Authority (GSA), Professor Alex Dodoo, has called for strict implementation of Ghana’s building codes and regulations to increase earthquake resistance.

He also emphasized that the authorized institutions must conduct tests on the structural integrity  of buildings in accordance with building regulations. 

According to him the  devastating earthquake in Turkey was a warning signal to Ghana to do the right thing to avoid possible future disasters.

Professor Alex Dodoo urged building inspectors and other stakeholders to ensure that all users of the code understand the means and criteria for compliance.

And the  need for the public to be educated to understand the importance of building code compliance in significantly reducing the impact of disasters and improving the safety of building occupants.

ACP Estate Limited (ACPEL) to return an undeveloped portion of 200 hectares of land at ACP Estates in Pokuase to the family of Nii Dodoo

A High Court in Accra has ordered ACP Estate Limited (ACPEL) to return an undeveloped portion of 200 hectares of land at ACP Estates in Pokuase to the family of Nii Dodoo Clottey .

This  was after the court  found that the company violated the contract with the family  to develop the 600-hectare land. 

In a ruling earlier this month, the court  ordered the property company to pay the  family 200,000 cedis in damages and  breach of contract costs.

The court, presided over by Justice Kwame Gyamfi Osei, found that ACPEL failed to meet its obligations under the Joint Venture Agreement (JVA)  signed with the family on October 22, 1991 to provide the entire 600-hectare site with access roads and drainage,electricity and water.

Since ACPEL violated the  obligations arising from the contract, the court found that the collective agreement was not enforceable and therefore it was declared invalid, and all non-building plots in the 200 hectares of land given to the company by the family under the contract were returned .

The Dubai Land Department says  e-property residence visa system improves the experience of real estate investors:

The Dubai Land Department has announced that Dubai’s e-property residence permit visa system has been highlighted as a key factor in improving the property investor experience.

In a presentation at the Dubai Land Department-Cube, a center dedicated to providing exceptional services to real estate investors,  officials said the system provides an efficient electronic platform for submitting real estate, offering investors flexibility, simplicity and quality services.

According to officials, the development of the electronic residence permit visa system demonstrates DLD’s commitment to strengthening its partnership with the private sector, a key driver and active player in the real estate industry.

The  move  is to create a globally competitive environment conducive to private sector investments and achieve  Dubai’s position as a world leader in real estate investment

Officials say this requires renewing the comprehensive real estate system through effective partnerships and innovative digital infrastructure .

The platform allows real estate investors to apply for a variety of visas, including a 10-year gold real estate visa, 2-year real estate visa, family visa, parent investor visa, retirement residence and medical. trial service.

Most users search for something interesting (or useful) and clickable; as soon as some promising candidates are found, users click. If the new page doesn’t meet users’ expectations, the back button is clicked and the search process is continued.

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