Real estate Bill before Parliament
A real estate bill that seeks to establish a real estate authority to regulate the sector is currently before Parliament for consideration, the Deputy Minister for Water Resources, Works and Housing, Mr Samson Ahi, has said.
He said the purpose of the bill was to regulate real brokerage practice, real estate transactions as well as prevent the use of real estate transactions for the purposes of money laundering and other vices.
Mr Ahi said this at the launch of the Multi Tv 2016 Habitat Fair.
“The bill will also provide training and licensing to estate brokers, and will require that estate brokers provided bonds as guarantees to operators in the property market,” he said.
Housing deficit
He said the Ministry was also in talks with local real estate developers and other governmental agencies on how it could collaborate to reduce the housing deficit facing the country.
Mr Ahi said the affordable housing programme which began in 2005 with the objective of providing accommodation for low to middle income workers had been revamped.
He said the Ministry was also currently partnering the Social Security and National Insurance Trust (SSNIT), Tema Development Corporation and other developers to complete the projects which had stalled over the past seven years due to lack of funds.
“I can confirm that works for the Borteyman site which is made up of 1,368 units is progressing steadily and is scheduled to be completed in July this year,” he stated.
Habitat fair
The 2016 edition of the Multi Tv Habitat Fair has been launched in Accra, under the theme “affordable housing for all”.
In its bid to take the fair closer to lots of people, this year’s event would be preceded by two mini fairs at the Achimota Retail Centre and the West Hills Mall.
The first mini fair is scheduled for the 24 and 25 of June, whiles the 2nd mini fair coming off between the 29 and 30 of June, with the main fair slated for the 12-14 August, 2016.
Mr Ahi said he hoped the event would offer Ghanaians the opportunity to hold discussions, focusing on current issues pertaining to the industry such as how to reduce the cost of construction, promote an effective maintenance culture and how professionals in the industry could come out with innovative designs that would be less dependent of electric power. — GB