By: Franklin ASARE-DONKOH
The Founder of the Ghana Real Estate Professional Association, (GREPA), Madam Victoria Sampah has called for strict implementation of the Real Estate Agency Act, 2020 to restore public trust and confidence.
The Real Estate Agency Act, 2020, Act 1047, makes it mandatory for any person who wants to become a real estate practitioner to have a license issued by the Real Estate Agency Council.
This means that without a real estate license issued under the law, a person will not be allowed to provide real estate agency services; provide services as a real estate agent; engage in any business connected with the provision of real estate agency services, or engage in a real estate transaction including the business of finding accommodation for a prospective tenant for a fee.
This according to Madam Sampah, will go a long way to improve public trust in real estate practitioners since, by virtue of their license, people will be confident dealing with a professional who is regulated by a body of ethics.
The Founder of GREPA made the call at a Media launching of the second edition of the Africa Real Estate Conference and Expo (ARCE) in Accra under the theme: “The Role of Real Estate and Infrastructure in Achieving Sustainable Goals.”
Madam Sampah explained that the real estate industry plays an important role in creating an all-inclusive healthy, and safe planet to live in and the professionals are continually being tasked to wake up to the call.
She noted further that the Coronavirus (COVID-19) pandemic has changed the way the world operates and the trends are expected to have a critical influence on how people will like to live in a small environment and as well how real estate markets will fare in the coming years.
According to her, the main objective for the formation of GREPA is to harmonize and create interaction among members who deal in real estate and support government regulations for the country and members of the association.
The Association, she noted, also sought to promote and maintain the highest standard of conduct in all real estate transactions and improve every Ghanaian’s economic opportunities by providing a road map to international Best Practices in property markets.
Given reasons for organizing ARCE, which has become an annual event on the real estate calendar, Madam Sampah said the vision and goal for ARCE is to develop the real estate industry in Ghana and Africa through good policy advocacy, and stakeholder collaborations, among others that served as the biggest and most impactful industry-driven for the development of the sector in Africa.
The five-day conference which will be held from Monday, September 12 to Friday, September 16, 2022, is an initiative led by the Ghana Real Estate Professionals Association (GREPA) in close collaboration with its international certification partners.
Since real estate is a key driver of national development and also an industry that brings together many other industries and professionals, the event which will be organised at the Labadi Beach Hotel, is expected to bring together industry players, policymakers, professionals, experts, and investors among others in the real estate value chain.
It is expected to attract stakeholders and dignitaries across Africa, the Americas, and Europe.
This upcoming ARCE conference follows the successful organization of the maiden edition held in October last year, under the theme: opportunity to innovate and optimize.
Speaking at the Media launch, Chairman of the ARCE Planning Committee, Mr. Manuel Tawia indicated that, “the conference is expected to host and bring together over 200 companies both locally and internationally, over 100 renowned professionals and investors globally, about 3000 participants (in person and online).”
Mr. Tawia explained further, “There shall be local and international speakers to discuss and speak on relevant and specific key topics for the growth and development of real estate in Ghana and Africa.
“The impact is expected to be phenomenal as many professionals and investors will have the opportunity to learn new things to scale up their businesses and network with relevant stakeholders” he added
In recognition of the efforts of some of the people in the real estate industry over the years, the last day of the conference has been reserved as an awards night to honour specific industry players, who have played key and sacrificial roles in bringing real estate and infrastructure to this level in the country.
