Chief of Staff hands over new headquarters to REAC

The Chief of Staff, Akosua Frema Osei-Opare has handed over the newly constructed headquarters building to the Real Estate Agency Council (REAC).

At a brief handing-over event on Tuesday, April 30, 2024, at REAC’s new office premises in Accra, Madam Osei-Opare said the new office space marks the government’s efforts to regulate and standardize the real estate sector in Ghana.

“The establishment of the Real Estate Agency Council and subsequently the provision of office space represents a crucial step forward in our efforts to regulate and standardize the real estate market.

She emphasized the vital significance of the real estate industry in driving economic growth and improving living standards for Ghanaians acknowledging the challenges stemming from the lack of regulation and professional standards in the sector.

She referenced the passage of the Real Estate Agency Act 2020 (Act 1047) and the establishment of REAC as crucial steps towards ensuring transparency, accountability, and professionalism in the industry.

She outlined the government’s digitization agenda and its initiatives aimed at streamlining processes within the real estate sector highlighting plans to implement a cloud-based licensing and regulation system, which would expedite licensing processes and promote efficiency in the industry.

Parliament in 2020 passed the Real Estate Agency Act, 2020 (Act 1047), creating the Real Estate Agency Council (REAC)