Stakeholders call for more housing fairs
Patrons at the just-ended Graphic-GREDA Housing Fair have commended the organisers for the exhibition, saying it was useful and has exposed them to rich knowledge and information to guide them towards owning homes and commercial property.
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They also urged other stakeholders in the sector to join hands with the fair organisers to proffer solutions to the challenges bedeviling the sector. “This fair offers a sense of enlightenment for those who don’t know about the real estate industry. For us at Broll Ghana, it affords us the privilege of getting closer to our customers and would-be clients,” A manager at Broll Ghana, Laila Addae, said.
Some participants told the Daily Graphic they came sight-seeing but were enthralled about the homes being showcased in pictures and audio-visual formats together with the financial services and assistance on offer.
For most patrons and prospective buyers, the real estate fair was an eye-opener. “This is the first time I have seen so many real estate companies converge at one point to make offers to customers and it is good, they will beat down the price and you will get affordable homes to buy,” a customer told the Daily Graphic.
The Graphic Communications Group Ltd (GCGL) and the Ghana Real Estate Developers Association (GREDA) organised the three-day fair at the Accra Mall.
Panacea
The President of GREDA, Patrick Ebo Bonful, described the just-ended three-day fair as a learning curve and must be sustained. “This is a good feature for our sector, GCGL is the most credible and read newspaper and news in the country, it transcends the length and breadth of the country and we are glad to partner it for such an educative and informative fair,” he stated.
Mr Bonful stressed that it was only the building, construction and real estate industry that could cure Ghana’s anaemic under-development. He premised his assertion on the fact that all developed countries of the world adopted building and construction to develop and grow other industries, citing what the United States, Britain, Japan and Germany did with that sector after the Second World War.
In an exclusive interview at the Climax of the three-day Graphic-GREDA Housing Fair last Saturday, Mr Bonful said the construction and real estate industry encompassed other sectors of the economy, including the artisans, labour, skilled labour, financial, food catering and energy industries.
“The truth is when there is a major construction going on one needs the services of artisans such as masons, carpenters and bricklayers; you also need food and drinks, you need power to sustain the construction and you also need skilled labour, among others,’ he told the Daily Graphic.
Market penetration
Mr Ebo Bonful disclosed to the Daily Graphic that Ghana’s building and real estate industry penetration was one of the lowest in the world which he said accounted for the nation’s under-development.
“The building, construction and real estate industry in Ghana is not even up to one per cent of Gross Domestic Product (GDP); it is that low and there is a need for a real stakeholder brainstorming on how to tackle this,” he told the Daily Graphic.
He noted that platforms such as the Graphic-GREDA fair was a very important feature and only needed more improvement. “This fair is very important for us, it will help us in many ways and we need to improve upon it,” he told the Daily Graphic.
Housing fair
The annual event featured everything from housing solutions to the final touches needed to complete a dream home. Key stakeholders in the housing sector, including the Lands Commission, SIC Insurance, Vanguard Assurance, ASHFOAM, DEVTRACO, Waylead, CCAG, and Sedan Landbank have gathered to interact with the public.
Other participants included Hollard Insurance, STL Superlock, Broll Ghana, Affordable Luxury Homes, Lakeside Estate, Star Properties, Spotlight Homes, Latex Foam, First National Bank, Azar Chemical Industries Limited, Regimanuel Gray Limited, Cornerstone Developments, Emerald Properties and Swami India Ghana Limited.
It offered prospective and existing homeowners, investors, real estate developers, financial advisors, interior decorators, regulators and other industry players the opportunity to make purchases agreements, finalise agreements and brainstorm innovative solutions.
Participants gained first-hand knowledge on financing homes and properties to patrons of the fair and allowed them to explore financial instruments and funding options from companies selling houses, investment plans and insurance-related information.
Additionally, they received education on land acquisition, effective building techniques and addressing issues such as flooding and fire outbreaks.
Graphic’s responsibility/affordability
The Managing Director (MD) of GCGL, Ato Afful, said the theme for the fair reflected the responsibility held by the company as a national brand to provide accurate, truthful and verifiable information daily to promote national development, and enhance the living standards and well-being of the population.
He said the collaboration with GREDA on the fair aimed to fulfil the vision of growing the country’s real estate market.
“The event provides insights into prevailing market dynamics, explores emerging trends in green housing and promotes the concept of green living. It guides existing homeowners and potential buyers on their investment journey, from land acquisition to opportunities in real estate as an investment portfolio,” he stated.
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Climatic factors
Mr Afful said the importation of the majority of building materials was a critical issue to look at with regard to making them affordable.