Ghana Property Awards honour 20

Twenty companies and individuals have been recognised for their significant contributions to the development of the country’s housing and property sectors at this year’s Ghana Property Awards (GAPOA).

The award scheme, which was in its 16th year, was held on the theme: “Nurturing Capital Market for Ghana’s Infrastructure Growth”, underscores the need for collaboration between industry partners and the financial sector. 

The event was a hallmark of innovation and achievement in the property landscape, highlighting best practices, groundbreaking designs, and sustainable solutions shaping the country’s real estate future.

Awardees

Awardees included Adom City Estate Company Limited, which took home the award for Mass Social Housing of the Year 2024; Afro Arab Properties adjudged the Affordable Luxury Real Estate Brand of the Year; Danywise Estate and Construction Limited, the Best Student Accommodation Developer of the Year, and Kab-Fam Ghana Limited as Leading Electronics and Appliance Company of the Year.

Others were BOT Properties named Best Promising Property Company of the Year, and Fidelity Bank was recognised as the Best Up and Coming Mortgage Bank of the Year.

The Minister of Works and Housing, Kojo Oppong Nkrumah, in a speech read on his behalf, noted that despite being fundamental to well-being and national development, the country’s housing sector faced significant challenges. 

He said even though the housing deficit had reduced from 2.8 million to 1.8 million units, affordability issues, high construction costs, urbanisation pressures and a mismatch between supply and demand had left many homes vacant and inaccessible to average citizens, particularly for low-to-middle-income groups. 

He stressed that the government aimed to bridge the affordability gap and ensure housing for all through policy reforms, dialogue and investment in innovative approaches in addition to collaboration with the private sector, academia and stakeholders to foster sustainable, inclusive and resilient housing solutions that aligned with Sustainable Development Goal 11.

Capital Market 

The Executive Director of GAPOA, Irene Agyenkwa, said meeting the demands of rapid urbanisation, such as quality housing, modern commercial spaces and sustainable public infrastructure, required bold investment and innovative financing.

The capital market, she said, could serve as an enabler for achieving this vision by providing access to long-term funding and fostering investor confidence to bridge the gap between ambitious infrastructure projects and the resources needed to realise them.

“The future of Ghana's property sector is bright, but it will require the collective efforts of all developers, financiers, policymakers and the wider community to build a legacy of sustainable growth and prosperity,” Ms Agyenkwa said, emphasising the need for stakeholders to prioritise the natural environment as they pursued growth. 

The President of the Ghana Real Estate Developers Association (GREDA), Patrick Ebo Bonful, said the government must enhance the capital market by improving the regulatory framework, increasing investor confidence and diversifying the financial instruments available.

That, he said, included aggressively pursuing Public-Private Partnerships (PPPs), issuing infrastructure bonds and Green bonds, ramping up investor education and awareness and leveraging technology.