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In the headlines
Executive Chairman of Comet Properties proposes establishment of a National Housing Fund.
Ghana Institution of Engineering Gears Up Conference on Sustainable Technological Solutions
UK Government Unveils Reserved Investor Fund Legislation for Onshore Advantage in Real Estate Investment
The news now in detail
Nana Odeneho Kyeremateng, Executive Chairman of Comet Properties, is proposing the establishment of a National Housing Fund in Ghana to address challenges in affordable housing programs, particularly financing.
He suggests the fund could provide seed funding for the government to lend to real estate firms for developments targeting low-income workers.
Nana Kyeremateng emphasizes private sector leadership in affordable housing and recommends using rental tax revenue to finance the Ghana Housing Fund.
He dismisses the idea of introducing new taxes for sustainability. Additionally, he highlights the difficulty in accessing long-term financing in Ghana, resulting in expensive mortgages that do not favor low-income individuals.
According to him, affordable housing in the country requires a collaborative commitment from all stakeholders.
Moving on
The Asona Mensa Royal Family of the Darkwaa section in Okanta near Nsawam, Eastern Region, has asserted that they lawfully granted land to Koans Building Solutions.
They presented land documents and checks as evidence during a news conference at Okanta. Opanyin Kwaku Amoako, representing the owners, refuted claims of Koans using land guards and vouched for the honesty of Mr. Kofi Anokye, Koans’ CEO.
The family urged the media to disregard previous reports and clarified that Mr. Anokye did not wrongfully acquire the land, emphasizing their willingness to speak truthfully about the matter.
In more news
The Ghana Institution of Engineering (GhIE) is organizing its 2024 Engineering Conference and Annual General Meeting in Accra from March 18 to March 23.
The event will include the Women-in-Engineering (WinE) Conference, the Young Engineering (YE) Conference, technical presentations, panel sessions, and networking opportunities.
With the theme “Engineering, a Resilient Future: Innovative Solutions for a Sustainable Ghana,” the conference aims to explore the application of technological innovations and artificial intelligence for sustainable development.
Foreign engineering partners from various countries will attend, and GhIE members participating will earn nine Continuous Professional Development (CPD) points.
On the international front
The United Kingdom is set to introduce Reserved Investor Fund (RIF) legislation, offering offshore alternatives for real estate funds.
Following responses to a recent consultation, the UK Treasury plans to legislate for RIF in the Spring 2024 Finance Bill.
Melville Rodrigues, head of real assets at Apex Group and RIF advocate, anticipates its broad utilization.
Addressing a gap in the UK’s fund range, RIF provides onshore benefits without full authorization.
Rodrigues hails this development as positive for UK fund managers, allowing them to remain onshore, enhance returns for pension investors, level the playing field, and attract capital for town center regeneration and net-zero goals
Source : Joycelyn Marigold -African Property Magazine