The Ghana Real Estate Developers Association (GREDA) has launched a real estate investment trust (REIT) aimed at tackling chronic financing hurdles in the housing sector, particularly the scarcity of accessible mortgage options.
The initiative, announced during GREDA’s annual general meeting in Accra, signals a shift toward self-reliant funding models as developers seek alternatives to traditional bank loans.
Outgoing GREDA President Patrick Ebo Bonful revealed that the REIT will pool resources to acquire properties from members, managing rentals or sales directly to the public. This structure, he argued, will free developers to focus on construction while the trust handles financing and market outreach. “Banks are supportive but can’t single-handedly drive the growth we need. This trust is our solution to unlock capital and scale up housing production,” Bonful said during his farewell address.
The trust’s rollout hinges on regulatory approvals, with GREDA currently securing a license from Ghana’s Securities and Exchange Commission. Bonful confirmed plans to list the REIT on the Ghana Stock Exchange, opening investment opportunities to the public. He also urged the government to scrap a 5% value-added tax (VAT) on estate development and reduce levies on building materials, warning that high costs risk deepening the housing deficit—a crisis he linked to “national security” risks if unaddressed.
“Affordable housing isn’t a luxury—it’s a necessity for millions,” Bonful emphasized, advocating for tax incentives and stronger public-private partnerships (PPPs) to accelerate projects. GREDA has previously collaborated with governments on PPP housing schemes, a strategy new President Dr. James Condua Orleans-Lindsay pledged to expand.
Orleans-Lindsay, elected at the meeting alongside a fresh national executive council, underscored urgent challenges: soaring borrowing rates and protracted land disputes. As Chancellor of Cape Coast Technical University, he vowed to leverage academic and industry ties to modernize GREDA’s operations. “Resolving these bottlenecks isn’t just about buildings—it’s about social stability,” he noted.
The REIT launch coincides with rising demand for creative financing in Ghana’s real estate sector, where an estimated 1.8 million housing units are needed to close the gap. Analysts caution, however, that success will depend on regulatory agility and investor confidence. For GREDA, the trust represents a bold bet—one that could redefine whether Ghana’s housing ambitions outpace its hurdles
