GREDA calls for support to resolve housing deficit

The First Vice-President of the Ghana Real Estate Developers Association (GREDA), Eric Ebo Acquah, has proposed to the government to sit with local estate developers to fashion out how to address the housing deficit in the country.

He believed resolving the 1.8 million housing deficit was not too much for local estate developers, with the right support from the government.

“I believe that the deficit is something that we can solve locally if local estate developers will be consulted and supported by the government.

“Within a matter of two years, we can make sure we have enough houses,” Mr Acquah told the Daily Graphic in an interview in Accra. 

Housing deficit

Mr Acquah, who is also the Chief Executive Officer (CEO) of Blue Rose Ltd, an estate developer, said the local estate developers were committed to supporting the government to address the housing shortage in the country.

“So, I believe the government should engage these local estate developers at a roundtable conference to seek their views on how best they can help to resolve this national deficit.

“The housing solutions are in Ghana, and there is no need to look outside. We are able and we are capable because we are already doing that without government support,” he insisted.

Mr Acquah explained that if the government could get a soft loan of about $50 million for about 20 or 25 registered developers, “I tell you, what they will put up, it will marvel you and our prices are also very affordable”.
 

National honours

Mr Acquah was one of two individuals in the real estate sector who were honoured at the 2024 National Honours and Awards.

The citation acknowledged and commended him for his commitment to community development, adding that it was evidence of his involvement in initiatives aimed at addressing the housing needs of the country.

Expectation

Speaking on the award, Mr Acquah said it was “a humbling experience, and this is going to challenge us to be a solution to our housing challenges that we have in the country”.

“This award has given us a big responsibility. So now whatever we are doing we must make sure that we improve our quality.

“It's also humbling that in a country of about 30 million, a few people are being honoured and you are privileged to be part of that group,” he stated.

Mr Acquah added that the award also signified that the government recognised what the company was doing.

“So, whatever we are doing, we must make sure that we improve our quality. We must also make sure that the workers are very satisfied and our clients are also satisfied.

“Our commitment is to build more houses to fulfil our mandate because our mandate is to provide shelter for all,” he explained.

“We are committed to that, and we are forced to deliver more affordable and quality houses for people,” he stated.