Reduce interest on construction loans - Real estate company appeals
The Chief Executive Officer (CEO) of MCL Ghana, a construction and real estate development company, Richard M. Donkor, has urged banks to support private firms in the real estate sector by providing low interest rates on loans and prolonged repayment periods to help the private sector to flourish.
He said in the world over, private sector was the engine of growth for many economies, hence providing flexible lending support to the private firms in the sector would ultimately help to drive the country’s development.
At the launch of a four-unit townhouse at East Legon in Accra last Friday, Mr Donkor, who commended the government for supporting the construction sector through the EXIM Bank, said most banks were often reluctant in supporting firms especially start-ups with loans due to weak cash flow, a situation which could derail the growth of firms in the sector.
"I urge banks to provide support to any real estate developer without hesitation, when that developer is able to purchase a land and uses same land as collateral to secure a loan facility to complete a construction on that land," he added.
Dubbed: “The Topaz Court”, the project, the latest to be launched by MCL Ghana, which commenced operations in the country with a one-unit apartment in 2016, comes with a four bedroom each seated on a 45ft by 110ft piece of land.
These high-end luxurious houses, which come with a boys quarters, are currently being marketed and sold by Properties Portfolio Ghana Limited, a sister company of MCL Ghana.
Each unit comes with a swimming pool, a major departure from the company’s previous signature projects.
In addition, the units are secured with CCTV surveillance to ensure safety of residents at the Topaz Court.
Mr Donkor explained to prospective buyers at the launch that his outfit prioritised quality in delivery of luxurious homes for the Ghanaian market.
In line with that, he said MCL Ghana purchased diverse building materials from different sources to ensure the best of finishing for its clients.
“What we do at MCL Ghana is that we make sure we stick to quality standards.”
“We pay attention to quality and it is quality that makes us stand out among the rest,” he added.
Touching on expectations for 2023, the CEO of MCL Ghana, urged the public to choose MCL Ghana for all their real estate needs as plans were underway to build more luxurious town homes, high-rising apartments, and stand-alone houses at Roman Ridge and Tse Addo.