GREDA asks for tax incentives in 2021 budget

by Business Zone

The Ghana Real Estate Developers Association (GREDA) is calling on government to provide real estate developers some tax incentives ahead of the budget presentation on Friday, March 12, 2021.

According to Vice President of the association, Ing. Stephen Debrah-Ablormeti, tax rebate, duty waivers, among other incentives will help estate developers to contribute at least two million housing units to curb Ghana’s housing deficit.

“From the point of developers, we’re just looking for some sort of motivation in terms of some tax rebate for developers, developing affordable housing, duty waivers and things like that, just so that developers will take interest in doing that.”

He emphasized that “because we have over 2,000 property developers in Ghana and all of us build just about 100 units a year per person, we can easily do the math, and that will realize about two million. So, there should be some strong motivation for property developers”.

Figures from the Ghana Statistical Service indicate a deficit of two million housing units at the end of 2020.

But in his State of the Nation Address delivered on Tuesday, [March 9, 2021], President Akufo-Addo said his intention is to place emphasis on resolving the housing deficit in the country.

According to him, tackling the housing issue was long overdue.

Source: businesszoneonline

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