The Minister for Works, Housing and Water Resources, Kenneth Gilbert Adjei, has declared that Africa’s next phase of housing and urban development must deliver affordability, liveability and resilience, stressing that innovation must never come at the cost of identity.
Speaking at the inaugural Africa Real Estate Festival (AREF) 2026 in Accra on Saturday, April 18, he challenged stakeholders to rethink real estate beyond land and buildings.
“Real estate is about the spaces where people live, work, and connect. It influences safety, dignity, productivity, and social cohesion, while also reflecting our cultural identity. In essence, real estate is about place, not just property,” he said.
The two-day event, held from April 18–19, 2026, brought together state regulators, diaspora investors and industry leaders under the theme “Innovation Meets Identity: Designing Africa’s Next Living Experience.”
It was organised by AREF in collaboration with Nilex Properties, Goldkey Properties, the Ministry of Works and Housing, and the Real Estate Agency Council (REAC).
Mr Adjei noted that in Ghana, the private sector delivers nearly 90% of housing, according to the Ghana Statistical Service.
“Government alone cannot close the housing gap. We therefore call on the private sector to scale up investment, adopt innovative delivery models, and align with national housing priorities,” he added.
He outlined a series of government policies and reforms aimed at transforming the housing sector.
These include repositioning the National Affordable Housing Programme to support large-scale, mixed-income housing through public-private partnerships, and decentralising delivery through the District Housing Programme so that every district contributes to reducing the national housing deficit.
According to him, the Rent Act is also under review to improve fairness, strengthen tenant protection, and create a more stable rental market.
In partnership with the Lands Commission, he said the government is advancing land administration reforms to improve land acquisition processes, strengthen title security, and reduce delays.
He further announced plans to promote local building materials and green construction methods to reduce costs, support sustainability and lower carbon emissions. Additionally, innovative housing finance solutions are being developed with financial institutions to expand access to mortgages and long-term housing finance.
Mr Adjei stressed that the broader legal and institutional framework is being reviewed to reduce bureaucracy, improve transparency, and support industry growth.
Earlier, welcoming participants, AREF Founder and Chief Executive Officer, Desmond Kwesi Oteng, argued that for too long, key conversations about African land and luxury have taken place in boardrooms in London, Dubai, and the United States.
He said hosting AREF on African soil signalled an end to what he described as “narrative outsourcing,” challenging the 1,500 delegates with a provocative question: “Who builds Africa?”
Mr Oteng applauded the Ministry’s leadership, noting that the most powerful signal a government can send is not just incentives, but “certainty”.
The Real Estate Agency Council (REAC) also reinforced the call for structural integrity within the sector. In its address, the Council warned that a transparent market depends on professional standards and effective policy, reminding practitioners of the ban on cash transactions under the Real Estate Agency Act, 2020 (Act 1027), introduced to curb fraud and money laundering.
The private sector response was led by headline sponsor Nilex Properties. Legal and Corporate Affairs Director, Lawyer Alex Kofi Osei-Owusu, shared the story of the company’s 19-storey oceanfront development as an example of African capital and architectural innovation.
He noted that the project combined technical expertise from Mumbai with a dedicated team of local Ghanaian architects.
“We want to work with local architects,” he emphasised.
Goldkey Properties was also recognised as a leading industry player, contributing to the transition towards “Grade-A” standards and improved quality housing.
The festival further highlighted the role of the Rent Control Department, noting that fairness between landlords and tenants is essential for building sustainable communities.
As the first edition of AREF continues, organisers expressed confidence that Ghana is positioning itself as a stable, transparent, and investor-ready hub for real estate development on the continent.
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Source: www.myjoyonline.com