Patrick Ebo Bonful, President of Ghana Real Estate Developers Association (GREDA)
Ahead of the 2025 budget presentation next week, the Ghana Real Estate Developers Association (GREDA) is urging the government to abolish the five percent value-added tax (VAT) on estate development, as well as other taxes on building materials.
According to the association, it is crucial for the government to incentivise the sector to help scale up real estate development and bridge Ghana’s housing deficit.
The outgoing president of GREDA, Patrick Ebo Bonful, has pledged the association’s readiness to partner with the government on Public-Private Partnerships (PPP) to deliver more affordable housing and other infrastructure projects in the country.
Meanwhile, the association has established a real estate investment trust to promote mortgage financing.
This initiative, led by GREDA’s outgoing executive council, is currently undergoing the licensing process with the Securities and Exchange Commission (SEC).
Consultations are also ongoing, after which the investment trust will be listed on the Ghana Stock Exchange (GSE) for public participation.
SP/MA