Real estate companies in Ghana to have access to cheaper funding sources by June 2020

Ghana’s Securities and Exchange Commission (SEC) is putting measures in place to ensure that real estate companies in Ghana have access to cheaper funding sources to undertake their projects by June this year.

Managing Director of Databank, Kojo Addae-Mensah.

This is because the SEC is expected to launch a Real Estate Investment Trust regulatory framework by the end of June this year.

The Group CEO of Databank, Kojo Addae Mensah, said this move if successful will ensure the availability of a cheaper alternative source of raising revenue to finance real estate projects. He added that this would significantly boost the country’s real estate sector.

“We are working with a real estate company and SEC. Initially, we were expecting by the end of March we would have launched it, but it is not looking likely; the earliest we would get is second quarter.”

“It will help the real estate industry raise funding for projects using the mutual funds for very good projects because generally raising funds for real estate is very difficult,” he stated.

A real estate investment trust is a firm that owns, operates or finances income-producing real estate.

REITs give all investors the chance to own valuable real estate, present the opportunity to access dividend-based income and total returns, and help communities grow, thrive, and revitalize.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022

Zuchu forced to apologize to fans after viral video raised eyebrows

Zuchu forced to apologize to fans after viral video raised eyebrows

Willy Paul wins against Diana Marua in court

Willy Paul wins against Diana Marua in court

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi