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GREPA Partners VX Technologies to Revolutionize Ghana’s Real Estate Industry
Trade Ministry and the Chamber of Cement Manufacturers Collaborate to Address Rising Cement Prices
Survey Reveals 71% of Affluent Indians Intend to Invest in Real Estate in 2024
GREPA ,VX Technologies to Revolutionize Ghana’s Real Estate Sector
The Ghana Real Estate Professionals Association (GREPA) has announced a significant Memorandum of Understanding (MOU) with VX Technologies, a prominent blockchain technology company.
This collaboration aims to revolutionise the real estate industry in Ghana by leveraging blockchain for member verification, property transactions, data security, and operational efficiency.
GREPA, a leading association in the Ghanaian real estate sector, seeks to enhance transparency and trust through this partnership.
VX Technologies, known for its expertise in distributed ledger technology, is enthusiastic about the collaboration, emphasizing the transformative potential of blockchain in property transactions and data management.
Still staying on the real estate sector
The AfCFTA presents a substantial opportunity for the flourishing of the African real estate sector.
Led by GREPA, the Ghana Real Estate Professionals Association, strategic initiatives are underway to align the real estate landscape with AfCFTA objectives.
Key integration strategies include breaking barriers through a Pan-African framework, championing transparency via proactive information sharing, fostering dynamic public-private partnerships, standardizing financing models, and developing regional real estate hubs.
These approaches aim to unlock economic growth, encourage urban development, and enhance regional integration, paving the way for a unified and prosperous African real estate market.
In more news
The Ministry of Trade and Industry (MoTI) and the Chamber of Cement Manufacturers, Ghana (COCMAG) have agreed to hold regular consultative meetings with industry players to address issues in cement manufacturing, bagging, and distribution.
The minister, Mr. K.T Hammond, expressed concern about the rising retail cost of cement and called for control over recommended ex-factory prices.
Stakeholders agreed on urgent measures, including individual companies publishing recommended distribution and retail prices, enforcing quality standards, and exploring a uniform pricing formula to ensure consistency nationwide.
The goal is to stabilize prices and address the economic impact of escalating cement costs.
In International News
The annual Luxury Outlook Survey 2024 by India Sotheby’s International Realty reveals that 71% of affluent Indians plan to invest in real estate within the next 12-24 months.
The survey highlighted significant confidence in the property market.
It indicates a shift in motivation, with capital appreciation now outweighing lifestyle upgrades as the primary reason for real estate investment.
High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs) express confidence in the real estate market, with 79% anticipating a positive economic trajectory in 2023-24, compared to 59% the previous year.
Additionally, 56% of respondents believe the Reserve Bank of India will reduce interest rates in 2024, suggesting a positive outlook for mortgage and financing opportunities.
Source : Joycelyn Marigold & Diana Okyerebea – Property Express Video News
