Real Estate Agency Council Office to be opened by April – Kojo Oppong Nkrumah

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The Real Estate Agency Council’s (REAC) board and management have been tasked by Minister of Works and Housing Kojo Oppong Nkrumah to see to it that the agency’s offices open by April of this year.

The Agency has not yet allowed the general public to visit its headquarters since it was established by law in 2020. Minister Oppong Nkrumah stressed the need to expeditiously have REAC fully functioning in order to efficiently control transactions in the real estate business during his first working visit on Monday, February 26, 2024.

“The contractor has informed me that he plans to complete the work in slightly more than two months, but I have given him a deadline of the end of April since we need to get the Agency up and running so that they canassist our people in order to reduce the challenges that they have when conducting real estate transactions,” he stated.

The Real Estate Agency Council (REAC) was established in 2020 when the Real Estate Agency Act, 2020 (Act 1047) was enacted by Parliament. It was the responsibility of this organisation to oversee the industry and guarantee equity and openness in real estate dealings. Nevertheless, the Agency has been delayed in carrying out its responsibilities even after the law necessary for its complete establishment and operation was passed. The CEO works from the Ministry of Works and Housing rather than the REAC’s headquarters, therefore even though the Council has been sworn in, its operations are still inactive.

Minister of Works and Housing, Kojo Oppong Nkrumah guaranteed that preparations are in place to obtain funds for the offices’ eventual staffing and furnishings.

Source: Daily Graphic

 

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