Mr Abdulai Abanga, the Deputy Minister of Works and Housing, says the Ministry is actively engaged in revising and enacting new laws to address institutional gaps for a robust foundation for the housing industry to implement best practices.
He said the policies were geared towards transforming the industry in aligning with the infrastructure development agenda of President Nana Addo Dankwa Akufo-Addo.
“As part of this effort, the Ministry is spearheading the establishment of the Ghana House Authority. This regulatory body would collaborate with the private sector developers to oversee plan and manage housing development in Ghana,” he stated.
Mr Abanga made this known when he launched the Legato Height residence located at Ridge in Accra, which was constructed by Vaal Real Estate – Ghana, the second housing project of the company.
He said the Rent Act of 1963 (Act 220), which was in a existence for 60 years was undergoing a comprehensive review to align with modern trends and dynamics in the housing sector.
“The aim of this legislative revision is to eliminate constraints on housing availability, safeguard low-income and vulnerable tenants and promote private sector development businesses.”
The Deputy Minister said the Ministry would continue to create the enabling environment for the real estate sector to thrive while expanding other initiatives aimed at ensuring that new homes were constructed and delivered in a more sustainable manner.
He stated that the government would subsidise housing units with land and infrastructure while the private sector would contribute to building apartments on cost recovery basis.
Mr Abanga said Vaal Real Estate projects were not just about the buildings, and that; “they take into consideration the people who will call communities home, they are committed to creating neighbourhoods that foster connections, understanding and shared experience.
“Their goal is to cultivate thriving communities where residents can forge lasting relationships, build memories and support each other.”
He commended the executives and the staff of Vaal Real Estate for their collaboration with the government to make the venture possible, saying; “This confirms that the needed platform has been created by the Ministry of Works and Housing which is attracting the private sector investment in the housing sector.”
Mr Alaa Zayed, Chief Executive, Vaal Ghana, said as part of the company’s plans for the next two years, it would bring six new projects at prime locations with high rise buildings as they started with the Harmonious Villas and now the Legato Heights.
“We will make some diversification by providing European style apartments in the heart of the city of Accra in the coming two years. Our focus is always on quality and location. Our clients don’t mind about the price, what they need is quality after the right location.”
Mr Nazir Ahma, Head of Sales, Vaal Ghana, in an interview, said the company was unique as compared to others because of its 20 years of experience in real estate and offer of return on investment as well as amazing brands in its apartments, lifestyle and luxury.
He said Legato Height had 20 floors and that prices were competitive that with 3,000 dollars one could get a unit.
GNA