Ghana Home Loans (GHL), the nation’s leading mortgage specialist, has held its second Developers and Estate Agents seminar for the year 2017.
The biannual seminar which seeks to assess mid-year performance review and further deepen relationships with industry players.
The event discussed developments in the industry for the first half of 2017, challenges being faced by developers, and the implications for developers as Ghana Home Loans transitions from a non-bank financial institution into a universal bank.
Present at the event were over 100 attendees from estate development companies, representatives from International Finance Corporation (IFC), Ghana Real Estate Association (GREDA) and a renowned architect, Mr Tony Asare.
The Head of Corporate Communications and Brand Management, Ghana Home Loans, Ms Maria Oquaye, opened the seminar with much gratitude to the developers for their commitment and loyalty over a decade with Ghana Home Loans.
She highlighted the transformation from Ghana Home Loans to GHL Bank by urging developers to maintain the strong relationship built while they came on board with GHL Bank’s vision of becoming the foremost bank for wealth creation.
“’We remain committed and will continue to provide innovative products and services as we transition from a non-bank financial institution to GHL Bank,’’ she said.
The Head of Mortgage Origination, Mr Richmond Asante, elaborated further on the Ghana Home Loans mortgage operations.
He explained that the housing delivery system in Ghana was growing at a pace slower than the population growth rate, contributing to the increasing housing deficit.
Mr Asante confirmed that Ghana Home Loans was resolute in partnering with real estate developers to help close the gap and also support more people to achieve their dream of owning their first home. “We urge all real estate developers to stretch their ambition to deliver more housing units. Ghana Home Loans is committed to helping finance such projects. Home ownership continues to be a key part of our mortgage portfolio,” he stated.
The Special Project Manager of Ghana Home Loans, Mr Edward Nyarko, delivered a presentation on the new construction loan products that were likely to be rolled out to the benefit of the developers.
He gave prominence to the fact that the purpose of the loan was for the construction and completion of houses and infrastructure development and not for acquisition of land.
Mr Tony Asare, a renowned architect, spoke on the zoning and planning guidelines of the usage of land. The guidelines and zoning are intended to help local planning authorities in approving any development within their area to assist developers and players in the real estate industry.
The Executive Secretary for GREDA, Mr Sammy Amegayibor, gave an assurance of the continuous support of the association to aid developers in addressing day-to-day challenges faced in the industry.