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Government reaffirms its commitment to foster a conducive environment for growth of Ghana’s real estate sector
Africa built environment asked to use modern green building techniques
JCER Report Warns of China’s Economic Peril Amidst Real Estate Bubble Burst”
In our first story
E Wells Realty and Consultancy recently organized the Second First-Time Home Buyers Seminar in Accra, emphasizing the potential for building generational wealth through real estate.
The event aimed to shift mindsets from mere home ownership to creating a lasting legacy, with speakers highlighting that many millionaires began with real estate portfolios.
Madam Haana Atisase, CEO of E Wells and Realty, addressed the prevalence of real estate fraud, stressing the importance of education to prevent victimization. Practical advice included due diligence, document verification, and avoiding cash transactions.
The seminar featured panel discussions, exhibitions, and mentorship programs, providing comprehensive insights into residential and commercial properties. Collaborations with FNBBank and Easy Housing were showcased, offering financing packages and affordable housing models for diaspora members.
Realtors expressed optimism about investment opportunities, with presentations on Shark Island, RADOF Investments and Logistics, Samarl HandyMan services, Jobo Max Homes, Temple Mount, and Rehomes Homes, among others. The event tackled challenges within the Ghanaian real estate market, urging caution, research, and due diligence.
Personal journeys of real estate entrepreneurs Anna Aru and Marvin Walker emphasized continuous education, awareness creation through market master classes, and improving property maintenance for wealth creation.
E Wells Realty and Consultancy successfully created a platform to educate and inspire participants, encouraging them to view real estate as a powerful tool for securing their financial future.
Mr. Francis Asenso-Boakye, the Minister for Works and Housing, has affirmed the government’s steadfast commitment and support for the Prestige residential project developed by i2 Development Ghana Limited.
Speaking at the grand launch in Accra, he emphasized the government’s dedication to fostering a conducive environment for the growth of the real estate sector.
The Prestige project, situated on 2.88 acres of land adjacent to the Airport Shell Fuel Station and opposite the Marina Mall, is led by i2 Development Ghana Limited.
During his address, Mr. Asenso-Boakye also expressed the government’s commitment to implementing initiatives that align with sustainable practices in the construction sector and the delivery of new homes.
Mr. Youssef Aitour, Co-Founder and Managing Director of i2 Development Ghana Limited, extended gratitude to the government for facilitating a conducive investment climate for the Prestige project.
He acknowledged the government’s substantial contribution to the project’s success, emphasizing its role in generating over 2000 job opportunities through contractors and subcontractors.
He also recognized the government’s efforts in maintaining a safe and stable investment climate, making projects like Prestige feasible and contributing to the country’s economic development
Mr. Daniel Kontie, CEO of the African Continental Engineering and Construction Network, has said that Africa’s built environment must be put in a position to transition from the current brown building technology to green building technology.
“Like it or not, the reality is that new trends are changing how the industry operates, from the design stage to the actual construction process, especially now that the entire planet is facing enormous climate change threats from our old industry… actions and inactions that have led us to this global climate crisis,” Kontie added.
Mr. Kontie said this in his welcome speech at the African Continental Engineering and Construction Network Summit held at the De-Icon Conference Grand Arena in East Legon, Accra.
The CEO added that Africans have always argued that Africa’s contribution to the current climate change disaster is insignificant compared to the West, “that is true, but we do not understand that the West significantly created the problem, but the solution is in the hands of Africa. and is the second of the 21st century. industrial revolution that Africa must take advantage of.
Let’s turn our attention to China now
If the Chinese real estate bubble bursts and triggers a financial crisis, the nation’s economic growth will be stuck at around 1%, jeopardizing its goal of doubling gross domestic product by 2035, the Japan Center for Economic Research says in a new report.
The report projects GDP growth for 18 Asia-Pacific countries and regions through 2035, with annual updates made to reflect the latest policies and economic conditions. The JCER released a summary of this year’s report Monday.
China’s economy has been dragged down by property market woes for more than two years. The government’s plans to strengthen financial support for real estate companies could place an excessive burden on the financial system.
Mishandling the response could wreak havoc. Sluggish condominium sales and plunging prices could significantly push up defaults on bank loans, resulting in widespread financial woes at small and midsize banks.
Source :Joycelyn Marigold -African Property Magazine
