GREDA seeks sector shake-up to curb housing deficit  

…backs 24-hour economy initiative                                                                             

By Kizito CUDJOE

The country’s mounting housing shortfall, now estimated at more than two million units, is intensifying pressure on government to rethink how the sector is regulated and financed.

Ghana Real Estate Developers Association (GREDA) says the strain created by rapid urban growth demands bold, immediate interventions – especially as the administration rolls out its flagship 24-hour economy programme.

GREDA president Dr. James Orleans-Lindsay said his outfit’s review of the policy shows it could open new opportunities for housing and construction, but only if supported by targetted reforms.

He pointed to a need for simplifying permitting processes, expanding access to land and broadening financing options through tools such as real estate investment trusts.

GREDA also called for stronger infrastructure support and capacity-building initiatives to improve industry standards.

Addressing the 2025 GREDA Awards and Dinner in Accra, Dr. Orleans-Lindsay described the 24-hour economy as “a potential game-changer” for the sector.

With firm government backing, he said, developers can scale up affordable housing delivery through public-private partnerships, strengthen essential services including water and sanitation, spur job creation across the construction chain and promote greener building practices.

“We continue to achieve significant successes, yet much more work remains,” he said. “Collaboratively, we can address persistent challenges such as land titling issues, high construction costs, heavy reliance on imported materials and limited access to affordable finance.”

GREDA, he noted, is ready to partner with government in advancing aspirations of the 24-hour economy policy.

“Working as a team, we can reset the housing industry to make Ghana a benchmark for sustainable development. We envision a country where every citizen has access to decent and affordable housing.”

He also urged developers to rise to the moment: “Let’s innovate, collaborate and deliver quality housing solutions”.

The 2025 GREDA Awards and Dinner was held under the theme ‘Resetting the housing agenda under the 24-hour economy: GREDA-Government collaboration’.

Presidential Advisor on the 24-hour Economy, Dr. Goosie Tanoh, likewise acknowledged that the lack of affordable, decent housing remains one of the country’s most pressing challenges.

He commended GREDA members for withstanding an increasingly difficult business environment marked by inconsistent policies over the years. Their continued collaboration since forming in 1994, he said, reflects resilience and foresight.

Dr. Tanoh warned that the deepening housing crisis is fuelling a wider set of social pressures. Each year, more than 200,000 young people arrive in cities seeking accommodation and work, while others are forced into overcrowded households or dwellings without basic facilities.

This, he stressed, undermines productivity across sectors. “We cannot expand production, run efficient services or support growing industries when workers cannot find decent and affordable homes near their jobs.”

He added that the shortage affects education as well, with inadequate accommodation in secondary and tertiary institutions undermining teaching and learning outcomes.

A sustained, affordable housing boom, he argued, would ease pressure across society and help reverse years of negative trends.

Dr. Tanoh described GREDA as a “perfect partner” in delivering this within the 24-hour economy framework.

“The programme seeks to transform the housing industry through the entrepreneurship of self-organised groups like GREDA, housing cooperatives and professional associations, not solely through public-sector policymaking,” he stated.

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