Real Estate Developers urged to introduce freehold Housing leases

Mr Isaac Osei, Ghana’s High Commissioner to the UK has urged real estate developers to consider introducing housing schemes with freehold leases.

He said such schemes would give clients the required confidence to invest monies in housing projects, thus guaranteeing a brighter future for their relations.

Mr. Osei expressed the hope that the Lakeside Estate venture being undertaken between Madina and Ashalebotwe – 12km north from Tetteh Quarshie Circle, would enhance other efforts being made by pioneers in the field to provide decent and affordable houses for Ghanaians.

Mr. Osei made the remarks at the launch of the new Japan Motor’s Lakeside Estate Project in London. Under the scheme, over 2000 housing units made up of two and three bedroom semi-detached houses ranging from ?9,000 to ?12,000, would be built. The scheme also provides the opportunities for those who want to build their own houses, to acquire serviced plots within the area.

Present at the launch, attended by hundreds of Ghanaians included Mr. Sam Antwi, Managing Director of Regalon International who chaired the function and Mr. Asad Nazir, International Marketing Director of Lakeside Estate Limited.

On prices, Mr. Osei said real estate companies should consider ways of making their houses reasonably affordable for workers in Ghana and he urged them to revisit the much debated issue of using alternative building materials in the industry.

“Perhaps, real estate firms must consider teaming up to form a committee to examine various proposals buried in files at a number of building and technology institutions with the ultimate aim of applying appropriate technologies for building projects in Ghana”, he said.

He appealed to the companies to consider using some of their profits towards giving face-lifts to towns and villages in the country and called on them to turn their vision of building housing in the rural areas of the country a reality.

He said although real estate companies were doing a great job, they should come out with proposals on how to realise the current housing requirement of 141,000 per year to help Government tackle the issue once and for all.

Mr. Nazir of Lakeside Estates said his company would prove equal to the task by ensuring prompt deliveries for all clients.

He assured clients that the company’s attractive price ranges reflected its desire to take care of the needs of the middle income workers whilst they are young and urged them to take advantage of loan facilities under the Home Finance Scheme.