The Minister for Works and Housing, Mr. Samuel Atta Akyea, says Cabinet is expected to approve a final Bill on Condominium properties, to regulate high rise buildings in the country.
He said this on the floor of Parliament, when he was presenting a statement on the Occasion of the World Habitat Day.
The Minister indicated that in view of the increasing demand for the development of high rise buildings and its implications for shared ownership of common areas, and the maximisation of limited space, the Ministry is seeking Cabinet approval before a final Bill on the Condominium properties is drafted by the Attorney General’s Department.
He also said that on Real Estate Agency practice, a draft policy paper is ready for approval by Cabinet. The policy focuses on the establishment of a Real Estate Regulatory Body, to regulate real estate agency practice, commercial transactions in real estate including the sale, purchase, rental and leasing of real estate and related fixed assets and to provide for connected purposes.
The Minister further stated that the government was undertaking a number of policy reforms and initiatives to ensure sustainable development of the construction industry.
He added that the reforms seeks to improve access to land with good title for housing, outline strategies for increased production and usage of local building materials, and establish a National Housing Fund and a National Housing Authority.
