Loader Image
Accra Properties Under Re-evaluation to Boost City Development

Accra Properties Under Re-evaluation to Boost City Development

The Accra Metropolitan Assembly (AMA) will proceed to evaluate all properties within its jurisdiction to mobilise resources for the development of the city.

The process, which will be conducted by the Land Valuation Division of the Land Commission, has in its scope the inventory of all properties in Accra and possibly the revision of property rates.

The valuation consists in an estimation of a property’s worth, including the land, buildings, and additional constructions. The last property valuation was completed in 2006.

The CEO of AMA, Mohammed Adjei Sowah, declared that, over the more than ten years period, the skyline of Accra has changed from a single story to multiple story. As a result, it was losing substantial revenue for development.

Sowah has signed a Memorandum of Understanding to this effect, which has also received support from the Ministry of Local Government and Rural Development (MLGRD).

The acting Director of the Land Valuation Division of the Lands Commission, Kwabena A. Gyang, signed the MOU on behalf of the Division.

The AMA appealed to the general public for full cooperation to drive this initiative to completion in order to generate revenue for the city’s development plans.

The Rating and Valuation of the Lands Commission will use digital technology to do accurate and speedy valuations of properties, compared to previous times when the arduous work was done manually.

The necessary information will be captured on mobile devices and sent to a central server. Citizens are encouraged to fully participate in this exercise and provide authorities with a database of property information.

Ghana’s poor real estate inventory is one of the reasons for major property tax non-compliance and non-payment, which significantly affects the government’s domestic revenues.

Recently the country’s government has announced major property tax reforms to improve collection rate among the citizens.

Mobus Properties Ltd. is a privately-held Ghanaian property investment, development, and management company focusing on commercial and residential property development. 

Contact Mobus Property today for more information on the range of properties in our portfolio.

Contact Mobus Property for more information.

For more exciting industry news and updates follow us on LinkedIn.