GREDA urged to enlist on Stock Exchange

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July 28, 2016 10:37 AM

GREDA has identified inadequate financing as one of the reasons for their poor contributions to reducing the country’s housing deficit.

GREDA Estates, Teshie-Nungua

The Ghana Real Estate Developers Association-GREDA has been urged to enlist on the Stock Exchange.

Executive Director of the Securities and Exchanges Commission who made this call, believes the move would help GREDA raise requisite funding for their operations.

Ghana’s housing deficit currently stands at GHC1.7million homes, and the housing options available are believed to be too expensive for the average Ghanaian to afford.

“We have been engaging GREDA to ensure that they use the capital market to finance their housing businesses. If they are unable to enlist on the Ghana Stock Exchange they can float bonds”, Director General of the Securities and Exchanges Commission, Dr. Adu Anane Antwi said in an interview with Accra-based Citi FM.

As part of their potential contributions to reducing the country’s housing deficit, other stakeholders believe that the association will also be relevant in furnishing the industry with information on housing in Ghana.

The call for credible information on housing in Ghana have become necessary as various other stakeholders are contesting figures being published as the total housing deficit in the country.

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