Saturday, the 30th of November, 2024 witnessed the recognition of excellence in Ghana’s real estate industry at the Wan-Shi Gardens Dome, Asylum Down, Accra. The Ghana Property Awards 2024 was held in celebration of its 16 years of existence which seeks to promote and enhance the recognition of outstanding firms and individuals in the real estate and construction industry in Ghana.
Held annually, this year was no exception as it was to celebrate the outstanding
contributions to the real estate and property sector by firms and individuals within the industry under the theme, “Nurturing Capital Market for Ghana’s Infrastructure Growth”. The ceremony was honored by outstanding dignitaries within the industry and the country which saw the success of the event.
Among the guest speakers were Mr. Patrick Ebo Bonful, President of Ghana Real Estate Developers Association (GREDA) & CEO of PS Global Ltd, Mrs. Irene Agyenkwa, Executive Director of Ghana Property Awards, Mr. Kofi Atta Kakra Kusi, Deputy Director, Domestic Marketing of Ghana Tourism Authority, Arc. Josephine Essie Kpesese, Principal Assistant Registrar of Architects Registration Council, and Rev. Stephen Yaw Osei, Chief Director of The Ministry of Works and Housing, who stood in for the Minister of Works and Housing, Hon. Kwadwo Oppong-Nkrumah, together with industry giants and professionals.
In his remarks, Mr. Patrick Ebo Bonful, highlighted how the capital market can be nurtured for Ghana’s Infrastructure Growth. He communicated one of the key strategies for nurturing Ghana’s capital market is the establishment of Public-Private Partnerships (PPPs).
He was of the view that the establishment of this partnership would help attract private investment from various sectors for infrastructure development. This will also contribute to enhancing our legal and regulatory framework. According to him, this improvement will not only protect investors but also instill confidence among potential stakeholders. By establishing a conducive regulatory environment, the country can unlock the potential of its capital market and foster economic growth, ultimately improving the lives of its citizens. A thriving capital market will be a significant step forward in ensuring infrastructure growth.
Josephine Essie Kpesese highlighted the nation’s lack of action in fully leveraging the potential of the capital market, which could provide significant funding for sustainable development. During her speech, she outlined four key steps that the country must take to achieve this goal. First, there needs to be an enhancement of the legal and regulatory framework. Second, it is essential to promote financial literacy and raise awareness among citizens. Third, encouraging political stability is crucial. Finally, there should be better integration of the regional financial market structure and harmonization of regulations by relevant agencies across the subregion to facilitate trade and investment within Africa.
“As we encourage these measures to be put in place, you as developers should also position yourself in a way to benefit from these markets. You may have to adjust the structure of your company to increase your capacity to provide the initial financial and other requirements to allow you access to the markets”, she added.
For the main activity of the night, promising firms were awarded based on their contributions in ensuring the success of the industry. Orient Property Consulting bagged two nominations on this prestigious night and was adjudged the Fastest Growing Real Estate Advisory Firm of the Year, with the other category taken by Eddy Acquah Properties, adjudged the Up and Coming Property Brand of the Year. E.Wells Realty and Consultancy emerged as the Trusted Real Estate Broker of the Year, having achieved this feat for three consecutive years.
The Awards comprised of 18 distinct categories which recognized the immense contributions of firms to the industry. It was a night to behold of which all awardees and all firms who were nominated were encouraged to keep up the good work and see to the great potential of the industry.
