The Minister for Works, Housing and Water Resources, Kenneth Gilbert Adjei, has declared that Africa’s next housing and urban development must deliver affordability, livability, and resilience, and that innovation must never come at the cost of identity.
Speaking at the inaugural Africa Real Estate Festival (AREF) 2026 in Accra on Saturday, April 18, he challenged stakeholders to rethink real estate beyond land and buildings.
“Real estate is about the spaces where people live, work, and connect. It influences safety, dignity, productivity, and social cohesion, while also reflecting our cultural identity. In essence, real estate is about place, not just property,” he said.
The two-day event (April 18–19, 2026) brought together state regulators, diaspora investors, and industry titans under the theme “Innovation Meets Identity: Designing Africa’s Next Living Experience.”
It was organized by AREF in collaboration with Nilex Properties, Goldkey Properties, the Ministry of Works & Housing, and the Real Estate Agency Council (REAC).
Hon. Adjei noted that in Ghana, the private sector delivers nearly 90% of housing, according to the Ghana Statistical Service.
“Government alone cannot close the housing gap. We therefore call on the private sector to scale up investment, adopt innovative delivery models, and align with national housing priorities,” he added.
In this regard, he outlined a series of government policies and reforms aimed at transforming the housing sector.
He said the National Affordable Housing Programme was being repositioned to support large-scale, mixed-income housing through public-private partnerships, while the District Housing Programme was decentralizing housing delivery so that every district contributes to reducing the national deficit.
According to him, the Rent Act was under review to improve fairness, strengthen tenant protection, and create a more stable rental market.
In partnership with the Lands Commission, Hon. Adjei continued, the government was advancing land administration reforms to improve land acquisition, strengthen title security, and reduce delays.
He further announced the promotion of local building materials and green construction methods to cut costs, support sustainability, and lower carbon emissions. Additionally, innovative housing finance solutions are being developed with financial institutions to expand access to mortgages and long-term housing finance.
He stressed that the broader legal and institutional framework was being reviewed to reduce bureaucracy, improve transparency, and support industry growth.
Earlier, welcoming participants, the AREF Founder and Chief Executive Officer (CEO), Desmond Kwesi Oteng, argued that for too long, the most important conversations regarding African land and luxury have taken place in boardrooms in London, Dubai, or the United States.
He said the convening of AREF on African soil signaled an end to “narrative outsourcing,” challenging the 1,500 delegates with a provocative question: “Who builds Africa?”
He applauded the Ministry’s leadership, noting that the most powerful signal a government can send is not just incentives, but “certainty.”
The Real Estate Agency Council (REAC) reinforced the call for structural integrity. In a stern address, the Council warned that a transparent market is sustained through professional standards and effective policy.
They reminded practitioners of the absolute ban on cash transactions under the Real Estate Agency Act, 2020 (Act 1027) – a measure aimed at eliminating fraud and money laundering.
The private sector’s response was led by headline sponsor, Nilex Properties. Legal and Corporate Affairs Director, Lawyer Alex Kofi Osei-Owusu, shared the story of the company’s 19‑story ocean‑front development – proof of what African capital and bold architectural vision can achieve.
Notably, Nilex paired technical expertise from Mumbai with a dedicated team of local Ghanaian architects. “We want to work with local architects,” he emphasized.
Industry giant, Goldkey Properties, was recognized as a “captain of industry,” driving a transition toward “Grade‑A” standards and quality living.
The festival also touched on the critical role of the Rent Control Department, arguing that fairness between landlord and tenant builds sustainable communities.
As the first edition of AREF continues, the energy in Accra confirms Desmond Oteng’s closing sentiment: Africa is no longer the “next” market; it is the “now” market. With the Ministry, REAC, Nilex, and Goldkey in alignment, Ghana is positioned as a stable, transparent, and investor‑ready hub for the continent.
