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Ghana Standards Authority Takes Action Against Substandard Cement Manufacturers
Construction works on the National Housing Project in Dedesua set to begin in 2024
In International News
Japan Post Bank has announced its latest allocation to real estate
Ghana Standards Authority Takes Action Against Substandard Cement Manufacturers
The Ghana Standards Authority (GSA) has enforced the closure of three cement manufacturing companies.
The affected companies are Xin An Safe Cement Ghana Ltd in Ejisu, Kumasi Cement Ghana Ltd in Offinso, and Uniceme Cement Ghana Ltd in Bekwai, all situated in the Ashanti Region.
This decisive action by the GSA, operating under the Ministry of Trade and Industry, is a response to the use of inferior materials in the production of cement by these companies. The move is part of a broader initiative aimed at eliminating substandard cement production practices across the nation.
Beyond the shutdown of the identified companies, the GSA’s measures extend to a temporary halt on the construction of new cement factories.
This pause is intended to allow for a more streamlined permit issuance process by regulatory institutions, ensuring that future cement production adheres to the highest quality standards.
The GSA’s proactive approach underscores its commitment to maintaining the integrity and quality of construction materials in Ghana.
The regulatory crackdown serves as a deterrent to non-compliant practices while promoting a safer and more reliable environment for construction projects across the country.
Government to begin construction of National Housing Project in Dedesua in 2024
According to the Finance Minister, Mr. Ken Ofori Atta, the government has outlined plans to begin construction on the National Affordable Housing Project in Dedesua, located in the Ashanti Region, in 2024. This initiative aims to provide affordable housing options for the citizens of Ghana.
During the presentation of the 2024 budget to parliament, Mr. Ofori Atta also announced that the first phase of the Revised National Affordable Housing Project has already commenced in Pokuase. This phase involves the construction of 8,000 housing units, further contributing to the government’s efforts to address the housing needs of the population.
Additionally, Mr. Ofori Atta highlighted the progress being made on Phase III of the Security Services Housing Programme. This phase focuses on the construction of 320 housing units specifically designated for the Ghana Police Service.
The units are being built at the Ghana National Police Training School in Tesano, Accra. The Finance Minister reported that the progress of work on this phase is currently at 95 percent completion.
Government is taking significant steps to tackle the issue of affordable housing by initiating various housing projects across the country. Through these efforts, they aim to provide suitable housing options for the people of Ghana.
Senco Global Developers Ltd Unveils Flagship Project: Senco Homes
Ghana’s leading real estate developer, Senco Global Developers Ltd, has officially launched its prestigious project, Senco Homes, situated in Amrahia, Accra.
The Chief Executive Officer, Mr. Mawuli K. Senyo, announced the commencement of Phase 1, describing it as a luxurious mini-gated community project designed to provide residents with comfort, security, and modern architectural elegance in a serene green environment.
Mr. Senyo emphasized the inclusive nature of the housing solution, catering to the needs of diverse customer classes.
The pricing policies reflect a balance of affordability, quality, security, and luxury, ensuring accessibility for all clients
The first phase of the project is scheduled for completion by December 2023, featuring two, three, and four-bedroom houses. The gated community already boasts essential amenities such as a police station, children’s playground, hospital, and basketball court.
Mr. Senyo extended an invitation to potential property investors, highlighting the strategic locations and appealing designs of their projects as promising avenues for high returns.
The emphasis on personalized building plans and quick project turnaround further positions Senco Homes as an attractive investment opportunity in the flourishing real estate market.
In International News
Japan Post Bank has announced its latest allocation to real estate, comprising 4.0 trillion ($26.73 billion in capital, or 1.76 percent of its total alternatives allocation.
The firm has surpassed its original net IRR target of 5-6 percent and currently stands at 9.7 percent.
The bank’s real estate investments are mainly focused on the industrial and residential sectors in North America and Europe.
It is currently overweight to the two sectors and underweight in office investments relative to the benchmark index.
In the bank’s strategy allocation, 69 percent is invested towards core debt, 27 percent to core equity and the remaining 4 percent to non-core equity.
Source : Joycelyn Marigold & Diana Okyerebea – Property Express News