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Coming up in this bulletin
Ghana Institution of Engineering Holds Building Technology Fair in Accra
Real Estate Agency Petitions Ga Mantse Over Alleged Land Fraud
Hong Kong Court Orders Liquidation of China Evergrande Amid Growing Debt Crisis”
Let’s get started
The Ghana Institution of Engineering (GhIE) recently concluded its 2024 Building Technology Fair in Accra, focusing on “Sustainable Housing Supply with Alternative Building Technologies.
The event showcased cutting-edge solutions, with ProtaStructure, a comprehensive Building Information Modeling (BIM) solution, taking center stage.
ProtaStructure demonstrated versatility in modeling and design, incorporating international standards. The fair emphasized BIM integration, collaboration, and workflow management. ProtaSoftware, behind
ProtaStructure, highlighted its engineering excellence with success stories.
The event was a movement towards sustainable and advanced construction solutions, serving as a pivotal moment for the engineering community to lead innovation in Ghana and Africa’s urbanization.
Moving on
In an interview with Marcopolis in Accra, Dr. James Orleans-Lindsay, Executive Chairman of JL Holdings and CEO of JL Properties, provided insights into the growth of the Ghanaian real estate market over the past 25 years.
Highlighting rising property prices and increased demand due to Accra’s transformation, he sees challenges like a shortage of developers and inflated construction costs as opportunities for major players to enter with improved practices.
The emergence of a dynamic secondary market, where individuals trade homes for new opportunities, adds complexity to the market.
JL Properties has played a significant role in contributing to Ghana’s housing and infrastructure needs while adhering to planning schemes.
In more news
RevealedTruth Company, a Ghanaian real estate agency, has submitted a petition to the Ga Mantse, Nii Tackie Teiko Tsuru II, seeking intervention in a suspected land fraud case.
The company claims to have facilitated the purchase of an 8-acre plot of land for a client, agreeing to a fee of GHC 320,000 with Asafoatse Nii Kojo Nseni Mankata.
Despite full payment, the traditional ruler has allegedly failed to deliver the land, prompting the client to consider involving the Ghana Police Service.
RevealedTruth Company is seeking Ga Mantse’s assistance to resolve the matter and prevent potential litigation.
The petition includes details of transactions, negotiations, and communication breakdown with Asafoatse Captain Nii Kojo Mankata.
On the international front
A Hong Kong court has ordered the liquidation of China Evergrande Group, the world’s most heavily indebted real estate developer.
This decision follows a failed attempt by Evergrande to restructure its $300 billion debt owed to banks and bondholders, raising concerns about China’s escalating debt burden.
The court cited the company’s lack of progress in presenting a viable restructuring proposal and its insolvency as reasons for the liquidation order.
Evergrande’s collapse is part of a broader trend, with several Chinese developers succumbing to official pressure to curb rising debt since 2020.
The Chinese government’s crackdown on excessive borrowing has led to a crisis in the property industry, negatively impacting the economy as other developers face financial troubles, causing ripple effects in both domestic and international financial systems.
Source : Joycelyn Marigold & Diana Okyerebea – Property Express News
