Ghana is to host an international housing investment forum, to create an opportunity for investors, financial institutions and other stakeholders to build affordable housing formats to influence the market forces to lower the cost of construction.
The housing investment forum slated for February 29h is on the theme: “A Vehicle for Investing in Ghana’s Future.” It will focus on Urban Regeneration; Housing Financial Framework, National Housing Registry, Housing Bond for Affordable Housing, Securitisation of Housing Assets, Flotation of Shares and Mortgages.
Speaking to the Ghana News Agency (GNA) in an interview in Accra on Tuesday, Dr Mark Nii Acquah Ankrah, Managing Director of State Housing Company (SHC) explained that as the largest real estate developer in Ghana, SHC seeks to leverage its vast land assets.
He said the company is exploring and building networks to use its technical know-how and goodwill to expand the available housing stock in a people centred and environmentally friendly way for Ghanaians.
Dr Ankrah said the SHC with its design partners- Constructs Limited seeks to use the housing investment forum to create a pool of funds to be used strategically to implement new housing projects and also to coordinate the efforts of housing industry stakeholders in Ghana.
The SHC Managing Director noted that Ghana needs to create an economically feasible and diverse financing model for the development of housing estates especially by SHC, through a three-prong approach to address challenges in the construction, mortgage and estate management financing.
He said State Housing is ready to lead a revolution in providing affordable housing, reduce the housing deficit and revamp the real estate industry based on its track record and new management system.
Mr Steve Akuffo SHC Board Chairman also told the GNA that management is determined to focus on its core mandate of building houses and flats for the people of Ghana.
He said: “The new Board and management are determined to concern itself with the arduous task and operate as the main housing development agency of the Government.”
He said as a limited liability company; “we are now operating as a fully fledged commercial enterprise to improve upon our achievements and impressive landmarks in the real estate industry by providing affordable and quality housing estates.
“We have an enviable reputation for being the only real estate developer operating all over the country.”
Mr Akuffo said the revamped SHC is committed to the objective of nationwide profitability and housing agency, to make housing easily accessible to institutions and individual Ghanaians at home and abroad through a reorganised operational structure, which groups the regions into five zones- Head Office, Eastern, Western, Ashanti, and Northern.
He therefore called for investors to join forces with the SHC to rebuild Ghana and provide truly affordable housing to the lower and middle income earners. GNA