Housing and real estate development awards launched
Accra, Feb. 20, 2012
An award aimed at paying recognition to industry players in housing and real estate development has been launched in Accra.
The African Real Estate and Housing Finance Academy Awards (AREHFA) is also to highlight the role and importance of real estate and housing finance sector across the African continent.
The importance of the housing and real estate sector cannot be underestimated since 56 per cent of Africans live in slums. The real estate and housing finance industry, as part of its mandate, is expected to upgrade informal settlements to uplift the living standards of Africans.
However, the housing and real estate sector in Africa is faced with various challenges including financing, availability of serviced land for residential and commercial real estate, municipal capacity and affordable housing.
The AREHFA is expected to bring investors in the Real Estate and Housing sector from Asia and Europe to explore opportunities and network with local industry players. It will also serve as encouragement and open up the region to more investment.
This will, to some extent, ensure that marginalised populations are afforded housing finance products in order to change their own lives.
The official awards ceremony will take place on March 30, 2012. While there will be an advisory board for the Awards, industry players will nominate and vote for the recipient in the different awards categories.
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