Africa Home Building Vido News 16/02/24

Updated by February ,19, 2024

JL PROPERTIES -FILE PHOTO

Hello and welcome to African Home Building News and Analysis

Here are our top stories today

JL Properties Set To: Transform Accra's Urban Landscape with Visionary Real Estate Ventures.

Newly appointed Housing Minister to prioritize rural housing, drainage systems, and the Saglemi project.

Saudi Arabia Launches Electronic Platform to Streamline Property Developer Licensing.

The news now in detail

JL Properties, led by Dr. James Orleans-Lindsay, is making significant strides in Accra's real estate sector.

In an interview with Marcopolis in Accaa, Dr Orleans-Lindsay spoke about their flagship Bubuashie project in North Kaneshie, featuring 1000 new homes, is set to redefine urban living.

Building on the success behind Achimota Mall, where 500 homes are being constructed, the company is expanding its reach.

JL Properties is entering the apartment sector with the Roman Ridge project, comprising 250 two-bedroom units.

Driven by a commitment to excellence and responsiveness to market trends, JL Properties remains a key player in shaping Accra's dynamic real estate landscape.

Away from that

Mr. Kojo Oppong Nkrumah, the newly appointed Minister of Works and Housing, has outlined his key priorities for his term, emphasizing a focus on rural housing, drainage systems, and the Saglemi project.

These objectives align closely with the vision set by President Nana Addo Dankwa Akufo-Addo.

Ghana faces a pressing housing challenge with a growing population and urbanization.

The demand for affordable and sustainable housing has intensified, highlighting the importance of the Minister of Works and Housing's focus on rural housing and infrastructure development.

The government's commitment to addressing these issues is crucial in ensuring accessible housing solutions for the citizens.

In more news

A volatile land dispute in Awutu Prison Junction, Kasoa, escalated into a violent clash involving local youth, military personnel, and police officers .

The conflict revolved around 11 acres of land, with one part claimed by a developer and one other person who asserted ownership since 2008, had faced repeated encroachments by the developer, leading to previous altercations with law enforcement.

The situation escalated further when soldiers and police officers were brought in by the developer, intensifying the clash with local youth.

This caused chaos within the community, raising serious concerns about violence, displacement, and landlessness.

The need for mediation was emphasized as a crucial step to resolve such conflicts and restore peace in the affected community.

On the international front

The Real Estate General Authority (REGA) in Saudi Arabia has launched an electronic platform to streamline the licensing and qualification process for property developers.

Developers can now electronically submit applications for qualification or licensing, facilitating the creation of a unified entity file and simplifying access to licenses and application tracking.

The system aims to boost investment efficiency, enhance the quality of real estate products, increase the supply of commercial and residential properties, and create opportunities for small and medium-sized enterprises.

The move aligns with REGA's commitment to regulate the property sector, digitize operations, and build investor confidence.

Additionally, the Capital Market Authority (CMA) has announced instructions for real estate investment traded funds, contributing to the overall strategic approach to real estate development and investment in the country.