Stanbic And GREDA Launch Housing Fair

Stanbic bank Ghana has partnered Ghana Real Estate Developers Association [GREDA] to launch the first Stanbic-GREDA Housing Fair. The fair is scheduled to take place on December 6 and 7, 2014 at the Polo Court in Accra. Members of GREDA, auto dealers and consumer finance companies will participate in the fair. Speaking at the press launch in Accra, the Head-Personal and Business Banking of Stanbic, Nana Benneh explained the reason behind their partnership with GREDA. According to him, the fair is not specifically about housing but rather to enlighten the public on vital knowledge of housing. �The sector is an area with potential growth. We are offering consumers the various options that allow them to finance their dream homes. This fair is not only about housing. It also gives the opportunity for consumers to have access to the requisite knowledge on all things housing,� he said. However, housing and vehicle assets market have witnessed significant demand over the last few months especially by the middle class group. This was necessitated largely by the increase in disposal income of the middle class and huge demand for new homes, notable in the capital, Accra. Around half of Ghana population residents now live in urban areas with suburban sprawl taking over settlement near major cities. To deal with challenges, UN Habits estimates that, 5.7 million new rooms will be required by 2020. But Nana Benneh believed that, the Stanbic-GREDA fair is an opportunity to abreast the public on property acquisition.