THE Dean of Law and Business Faculty at Laweh University College, Kaaka Dello-Ziem, has said the contribution of real estate, the like any other industry, is critical to guarantee the economic success of the country.
He said affordable housing remained a significant concern in Ghana and must be fixed to reduce housing deficit, which is in excess of 1.2 million.
He said while many were eager to own their own homes, the high cost of building, land guards, timeliness and population growth, people desirous of becoming home owners among other things, had forced people to abandon their aspirations.
“It is crucial for investors, policymakers, developers, sales representatives and the general public to understand the real estate industry and how it operates to make informed decisions regarding any investment, sale or purchase,” he said.
Mr Dello-Ziem said this at the opening of a three-day workshop on ‘Real Estate Law and Management in Ghana’ on June 23, 2022 in Accra.
Organised by the Faculty of Law & Business of the Laweh University College, the workshop aimed to create awareness of the legal, financial and economic implications involved in the real estate industry.
Participants included public and private sector employees, directors, estate managers and officers, students, lawyers, sales agents and brokerages in real estate industry, bankers, contractors, lecturers and Investors.
The workshop, which focused on discussing the efficient dispute resolution mechanisms available to parties seeking redress in real estate disputes, also exposed participants to relevant statutory provisions regarding real estate and equipped them with the requisite knowledge to operate within the industry.
Participants were taken through areas including the Real Estate Law & Management in Ghana; Land & Property Litigation-Declaration of Title & Defences and Analysis of the Land Act 2020 (Act 1036); and the Real Estate Law of Contract & Drafting & Due Diligence Procedures in Acquisition of Land & Registration of Title.
Others were Dispute Resolution in the Real Estate Industry: A look at Litigation and Alternative Dispute Resolution (ADR) Mechanisms as tools for effective conflict management in the industry and Real Estatepreneurship Management and Real Estate Agency Law + Analysis of the Real Estate Agency Act, 2020 (Act 1047) and Mergers and Acquisition in the Global Real Estate Economy.