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Business News of Monday, 29 January 2018


GHL Bank still committed to boosting real estate sector

Executive Director of Business at GHL, Kojo Addo Kufuor Executive Director of Business at GHL, Kojo Addo Kufuor

GHL Bank has underscored its continued commitment to the real estate sector, with a call on developers to take advantage of the relationship between the Bank and real estate developers to meet demands for housing in Ghana.

This was at the first of two Developers Seminars scheduled to be held in 2018.

The bank, which formerly operated as Ghana Home Loans, has organised this event since 2008 with the aim to foster a mutually beneficial relationship with real estate developers while providing them the platform to stretch their ambition to deliver enough homes to meet demands for housing.

A release, issued to the GNA on Monday, said the event also sought to provide real estate developers across the country insight into world class industry standards and resources to enable them to improve on home construction and supply.

This year’s first event was heavily patronized by over two-hundred real estate developers, property owners and partner vendors and suppliers within the real estate sector.

In an address to the developers, Mr. Kojo Addo Kufuor, Executive Director of Business at GHL, said the bank had maintained its position as the true partner for the real estate sector.

“It’s become more relevant that we have various streams of communication and support for these developers. Now more than ever, we will be looking out for and sharing trends and innovative ways to enhance and facilitate the supply and production of homes to meet the increasing demand for homes and properties,” he said.

The team from GHL Bank also shared the various innovative banking products and services that had been made accessible specifically to the real estate developers, as well as business value optimization facilities for the supply of quality modern and affordable properties.

The bank highlighted that their partnership with real estate developers had become more profound now that they were a one-stop bank focused on providing every applicable boost for the real estate sector.

In addition to the existing Construction Loans, developers can now operate accounts, manage payments and transactions as well us acquire investments packages from GHL Bank to support their businesses.

Mr. Sammy Amegayibor, Executive Secretary for the Ghana Real Estate Developers Association (GREDA) spoke to the Real Estate Developers about the need to concentrate on the quality of the homes they developed, as it became cheaper in the long run.

“Increasingly people are beginning to prefer building their own homes to buying from developers because the quality and prices fail to meet expectations,” he said, and encouraged them to join GREDA’s knowledge sharing programmes and meetings in order to be abreast with ways to optimize and meet quality standards.

Some key industry players like API, organisers of the West Africa Property Investments Summit, SESO and WindSol Energy, made presentations to the developers on ways to drive the priority of the real estate agenda and explore platforms that facilitate secured, trusted and risk-free transactions between, Property Owners, Land Service Agencies and clients.

Also in attendance were the members of the GHL Bank Real Estate Club (REC) from six major tertiary Institutions -University of Ghana Legon (UG), Kwame Nkrumah University of Science and Technology (KNUST), Ashesi University, University of Professional Studies (UPS) and University of Cape Coast (UCC) as well as the Ghana Institute of Journalism (GIJ).

The REC was established in 2010 to provide a networking platform for the students from the various tertiary institutions and also to create a platform for the students to learn more about the housing industry.