Property Express News - 20 08 25

President of the Ghana Real Estate Developers Association (GREDA), Dr. James Orleans-Lindsay, told the Business and Financial Times that the industry faces a “fresh challenge” despite broader signs of economic rebound, stressing that “realtors are still in the woods.”

Cement prices currently range between GH¢105 and GH¢118 nationwide, even though the cedi has appreciated by about 40 percent against the dollar this year. While iron rod prices have eased slightly, dropping to GH¢7,700 per tonne from GH¢9,000, GREDA maintains that cement must fall below GH¢95 to reflect currency gains. Dr. Orleans-Lindsay argued that imported inputs should already be cheaper, lamenting: “Developers are losing because we still buy cement at the same high prices,” which he said is creating an “undue burden” for prospective homeowners.

The association has rejected calls for price controls but is urging government mediation with suppliers to align construction costs with the country’s improving macroeconomic conditions. GREDA noted that although authorities earlier pledged to negotiate reductions in prices, “nothing has changed.”

Dr. Orleans-Lindsay further emphasized the industry’s crucial role in addressing Ghana’s housing deficit, appealing for fairness in the market: “This is not the time to battle another setback after COVID.”

BCM Ghana Limited has insisted that the recent attack on its Spintex workshop was carried out by land guards and not police officers, contrary to claims by Angela List.

The company, in a statement copied to the Ghana News Agency on Wednesday, said it had taken note of a series of publications by Ms. List, in which she denied the use of land guards and instead alleged that officers of the Ghana Police Service were executing a court order.

“The company is not surprised, as similar deception and duplicity have defined her conduct over the years. It is therefore necessary to correct the false information she is putting out,” the statement said.

According to BCM Ghana, on July 30, 2025, between 9 a.m. and 10 a.m., Ms. List dispatched a group of armed land guards, led by a well-known individual identified as “Cyborg,” to attack its Spintex facility. The statement explained that Cyborg had previously been arrested by the Property Fraud Unit of the Ghana Police Service and was currently on enquiry bail over similar trespass cases under Ms. List’s supervision.

The workshop, the company said, serves as a repair point for defective equipment and a fueling site for vehicles. Workers present at the time of the incident were able to prevent the takeover by quickly locking the gate. BCM Ghana maintained that the attackers never presented a court order or identified themselves as police officers.

The company added that pictures taken by staff helped identify Cyborg as the leader of the attack, with further evidence, including vehicle registration numbers, submitted to the Criminal Investigations Department to aid investigations.
“This makes her claim that these persons were there in furtherance of a court order ridiculous,” the statement stressed.
BCM Ghana also accused Ms. List of orchestrating similar attacks on its properties at Borteyman, Spintex Road, and even its headquarters, all of which are currently under court consideration and police investigations.

Touching on the legal proceedings, the company recalled that the Court of Appeal, on May 26, 2025, in civil motion H3/236/2025 (Angela Diala List v Paul List & Others), granted a stay of execution of a High Court judgment that had declared Ms. List a director and shareholder of the company. The effect of the ruling, BCM noted, was to maintain the status quo until the appeal was determined.

“Angela List has not acted in any capacity for BCM Ghana since her resignation in October 2020, and that remains the legal position until the Court of Appeal rules on the matter,” the statement said. BCM Ghana added that it had complied with court orders to file an inventory of its assets and inform both the court and Ms. List’s lawyers of any intention to dispose of property. The company argued that none of those assets are at the Spintex workshop, discrediting her allegations.

“If she believes the court’s order has been breached, the lawful remedy is to pursue contempt proceedings, not to deploy land guards,” it stressed, adding that Ms. List had failed to name the alleged company asset being sold or its supposed buyer.

The company urged the public to disregard Ms. List’s claims, describing them as attempts to cover up her “illegal acts.” It said, out of respect for ongoing court proceedings and security investigations, it would refrain from further public commentary on the matter.

Source : Prooperty Express News , Joycelyn Marigols