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Business News of Monday, 20 September 2021


GREDA lauds Lakeside Estate for helping bridge housing deficit

Mr. Samuel Amegayibor (far Right) with Dr Prince-Joseph Kofi Ayiku (far Left) at the launch Mr. Samuel Amegayibor (far Right) with Dr Prince-Joseph Kofi Ayiku (far Left) at the launch

The Executive Secretary of the Ghana Real Estate Development Association (GREDA), Samuel Amegayibor, has commended Lakeside Estate, a real estate development company, for helping to bridge the housing gap in the country.

Any addition to the housing sector, Mr Amegayibor said, was a contribution worth celebrating, as the country continued to grapple with a housing deficit of 1.7 million.

At the inauguration of the new Lakeside estate’s 110t four-bedroom storey houses in Accra yesterday, the GREDA boss said the country must provide in excess of 100,000 housing units annually to meet the current demand.

“If we could do anything better to the current demand, we should be doing about 70,000. We’re supplying now between 35,000 to 40,000, which is projected to rise to about 90,000 units per year. We will need to provide in excess of 100,000 units annually to meet this demand,” he explained.

Lakeside Estate, he said, has over the years been at the forefront of helping bridge the rising housing units deficit in the country and needed to be commended for their sterling role.

The Managing Director of Lakeside Estate, Dr Prince-Joseph Kofi Ayiku, on his part, said the company which has been in the real estate industry for over 20 years remained committed to building quality houses to reduce the current housing deficit in Ghana.

According to him, over the years, the market research from the company’s marketing team has come out with new innovations to meet prospective customers interested in buying 4-bedroom storey houses within Lakeside City.

“After examining the desire of these prospective buyers, we realised there is a market for this new product, so we then tasked our architects to design a superior product that is increasingly useful and relevant with modern taste, and the result is what we are all here to outdoor today,” he said.

The Marketing Director of Lakeside Estate Limited, Mr Lawrence De-Souza, explained that the project was initiated to serve the elite or high net-worth customers.

“Over the years, we’ve realised that we get demand from customers who love storey buildings. For some, even if it is a one-bedroom house, they’ll love it to be a storey building, so we’ve taken our time to assess that level of the market, and we realise that to satisfy them we need to develop storey houses for such upper class of customers”.

The design of the 4-storey building includes an entrance terrace, living room, guest bedroom, storeroom and kitchen yard/terrace.

Located on a 670 meters square piece of land with a floor area of 270 meters square, the buildings have been laid out to allow for easy access through its functional and well-defined spaces, airy and well ventilated, yet with a simple, beautiful blend of traditional gable system, with the hip roof, giving it a unique catchy character.