Real Estate Developers want the Ghanaian government to speed up implementation of land bank concept

The President of the Ghana Real Estate Developers’ Association (GREDA), Patrick Ebo Bonful, has called on Ghanaian government speed up the implementation of the proposed land bank policy to ease land challenges in the country.

President of the Ghana Real Estate Developers’ Association (GREDA), Patrick Ebo Bonful

Mr Ebo Bonful said the land bank is necessary since land acquisition is a major factor contributing to Ghana’s housing challenges.

“We have suggested that the government should look at the issue of land banks again and give us litigation free land banks. They should also review the land title registration laws to accommodate the proposals that we have sent. Here, government will not pay a dime. They will rather end up increasing revenue from that sector by more than 500 percent. And I think that, given the right priority, this can be done so that we change the entire landscape of real estate in this country. There are so many land litigation issues in the courts, so we want government to take that lead and secure the lands so that we can also patronize it to avoid the risk of land litigation,” he told Accra-based Citi FM.

A land bank is a governmental or nongovernmental nonprofit entity established, at least in part, to assemble, temporarily manage, and dispose of vacant land for the purpose of stabilizing neighborhoods and encouraging re-use or redevelopment of urban property.

Ghanaian government establishes land bank desk

In September 2006, the government established a Land Bank Desk at the Ministry of Lands, Forestry and Mines. The desk was to help prospective investors, both local and international, to access investment lands of all types for use.

The Minister of Lands, Forestry and Mines at the time, Prof Dominic Fobih, called on professional surveyors to contribute to the investment package to ease the problems of would-be investors in accessing land for the nation’s development agenda.

It’s however unclear what became of that desk and its functions.

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