Cement Price Hike Is Killing Our Business…Estate Developers Cry Out

CEMENTProspective home owners and property developers, have complained bitterly about the hardship they presently face, as a result of the recent rise in the cost of cement nationwide. Reports monitored by The New Crusading GUIDE revealed that, a 50kg bag of cement, now sells between GH ¢38 and GH ¢40 as against the GH ¢24 and GH ¢30 which it was sold for recently.

GHACEM recently announced an upward adjustment in the prices of its cement products. The increase, according to GHACEM, was as a result of the continuous depreciation of the cedi against the major international currencies, as well as high demurrage charges at the country’s ports. Also, reports have it that, the increase in the price of the product, must have stemmed from the high demand for it, coupled with the inability of manufacturers to meet up with the demand.

However, as this severely affects the construction industry, dealers in cement have continued to take advantage of the increasing demand for the product to hike the price of cement.

Godfred Osei, a real estate developer and Chief Executive of Lizngod Group of companies in an interview told this reporter that the commercial competition characterized by the increase of prices of the product is rather is affecting the consumer.

“Cement price instability has made building of house very difficult and challenging for the ordinary Ghanaian. More often than not, people have to leave their buildings uncompleted for so many years due to their inability to come to terms with the drastic increase in the price of cement or simply have to opt for makeshift buildings and wooden structures, while some constructors are forced to build poor quality houses to beat down construction cost” he said

According to him the housing deficit in Ghana stands at approximately 1.7 million units, at the current figure 170, 000 units would have to be built annually for the next ten years to cover the current deficit.

Although he said his company located at Kasoa CP junction has embarked on a massive construction project to help offset this deficit he was quick to add that the price of building material especially cement was a major challenge to them.

He urged government to do well to put measures in place to stabilize prices of building materials to help deal with the country’s high housing deficit.

On land acquisition Mr. Osei who said his company has plots scattered all over the country on sale asked potential Land buyers to look for the title of lands before buying. This he noted would minimize the incidence of double registration of lands in the country.

He also cautioned the public to be careful when dealing with people who call themselves estate developers and sell lands to individuals.

He said his company barely a year old has acquired lands in Kasoa, Millenium City, Nsawawm, Tuba, Broadcasting and other places, adding that” we can assure you of a litigation free land because we do our proper checks and deal with the right people”

Disclaimer: Comments by third parties do not in any way reflect the views of Raw Gist. We, however, reserve the right to edit and/or delete any comment. [ Terms & Conditions ]

Leave a Reply

(Your email address will not be published)