Accra, Aug 3, GNA - Ms Cecilia Abena Dapaah, Minister of State at the Ministry of Water Resources, Works and Housing on Friday described as unacceptable the practice of shoddy works by estate developers, saying the act is a major setback in the real estate industry. She mentioned over reliance of developers on imported building materials for construction and tremendous price increase of cement as other challenges confronting the sector.

Speaking at the launch of Sandpark Estates Project at Weija in Accra, Ms Dapaah reiterated Government's commitment to support estate developers in the drive to provide affordable accommodations to Ghanaians, especially low-income earners.

She said it was in this vein that the Ministry had sourced about 20,000 hectares of land readily available to developers and instituted a number of incentives such as the five-year tax exemption to encourage more investments in the industry.

" We are also into talks with banks in a bid to getting them provide affordable mortgages to Ghanaians. Government has also sourced a 30 million dollar loan from the Overseas Private Investment Corporation (OPIC) to support the establishment of a Housing Finance Company known as Ghana Home Loans", she added.

The Minister said her Ministry and the Ministry of Trade, Industry, Private Sector Development and PSI would also meet with producers and distributors of cement to find out ways to stabilize prices of the commodity.

Ms Dapaah entreated developers to also venture into rural housing and to partner Government to provide more affordable apartments.

" You must not only consider the profits you will make, but see your job as a social service to humanity", she added.

The Minister also commended Sandpark for the initiative and for especially concentrating on developing the western part of the city that was less developed.

Mr. Isaac Kyei Mensah, Chief Executive Officer for Sandpark Properties said the company, jointly owned by a Ghanaian company and Global Reit LLC, from the US, was focusing on providing a home with the lifestyle of community living to higher middle income earners. He said most estate developers had over the years focused on developing the eastern part of Accra, and this had led to further congestions and increasing traffic jams in those areas as majority of people now preferred to reside there.

He said Sandpark was therefore focusing on developing the western part of the city for people who would want to live a quiet life. Mr Kyei Mensah explained that, with 11 acres of land, Sandpark was ready to develop estates to suit individual needs where owners of apartments would have the opportunity to interact with management concerning their security, welfare and other needs to make life more comfortable for them.