GREDA Calls for Government Collaboration to Establish Land Banks for Affordable Housing
Executive Council Member of the Ghana Real Estate Development Association (GREDA), Kojo Biney, has called on the government to partner with real estate developers by establishing land banks to help address the persistent challenges facing Ghana’s housing sector.
Speaking during the NorvanReports X Space Discussion on the theme “Enabling the Private Sector: Infrastructure, Energy, and Logistics,” Mr. Biney highlighted the critical issue of land disputes in Ghana.
He noted that developers often face the challenge of purchasing the same piece of land multiple times due to disputes over ownership.
“We all know the issues with land in this country. You have the registered document, and someone else has the same document. Developers are buying the same piece of land repeatedly,” he said, emphasizing the need for government intervention in creating reliable land banks.
Proposed Solutions to Reduce Housing Costs
Mr. Biney further explained that if the government provided land banks equipped with essential infrastructure, such as electricity, water, and roads, it would significantly lower the cost of housing projects. These measures, he argued, could reduce housing prices by as much as 30%.
“Providing serviced plots with electricity, roads, and water would go a long way in reducing the prices of homes. These incentives would make a big difference for developers and homebuyers,” he remarked.
Commenting on affordable housing, he criticized past government attempts at affordable housing which according to him, have consistently failed to deliver cost-effective solutions.
He cited instances where government-led projects ended up being more expensive than privately developed homes, despite receiving free land and other resources.
“All of the government’s attempts to build affordable homes have resulted in homes priced higher than those by private developers. It’s time to give the professionals the right incentives to deliver,” Mr. Biney asserted.
Sustainable Nationwide Approach
Addressing sustainability in reducing housing burdens, Mr. Biney urged the government to work closely with chiefs across the country to secure land for development.
He emphasized that extending infrastructure beyond Accra to other regions would also ensure a more equitable distribution of housing opportunities.
“If chiefs outside Accra intentionally give land and the government provides roads and electricity, we can achieve sustainable housing solutions nationwide,” he concluded.
