The Chief of Staff, Akosua Frema Osei-Opare has handed over the newly constructed headquarters building to the Real Estate Agency Council (REAC).
This follows sector Minister, Kojo Oppong Nkrumah’s charge to the board and management during his first working visit to the Agency last February to ensure the opening of it’s offices by April this year.
At a brief handing-over event on Tuesday, April 30, 2024 at REAC’s new office premises in Accra, Madam Osei-Opare said the new office space marks the government’s efforts to regulate and standardize the real estate sector in Ghana.
“The establishment of the Real Estate Agency Council and subsequently the provision of office space represents a crucial step forward in our efforts to regulate and standardize the real estate market. By providing oversight and guidance to industry professionals, the Council will ensure that ethical standards are upheld, transactions are conducted transparently, and the interests of all stakeholders are protected and empowered," she said.
She emphasized the vital significance of the real estate industry in driving economic growth and improving living standards for Ghanaians acknowledging the challenges stemming from the lack of regulation and professional standards in the sector. She said these challenges lead to issues such as uncontrolled pricing, fraud, and high-risk transactions.
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