The Founder and Chief Executive Officer of the Africa Real Estate Festival (AREF), Desmond Kwesi Oteng, has stated that the era of outsourcing Africa’s real estate narrative is over.
Addressing over 1,500 delegates at the inaugural AREF 2026 in Accra on Saturday, April 18, he 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.
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.” “Who builds Africa?” Mr Oteng challenged the audience, signaling an end to “narrative outsourcing.”
He applauded the leadership of the Ministry of Works & Housing, noting that the most powerful signal a government can send to the global market is not just incentives, but “certainty.”
The event was organised by AREF in collaboration with Nilex Properties, Goldkey Properties, the Ministry of Works & Housing and the Real Estate Agency Council (REAC).
The Minister for Works, Housing and Water Resources, Hon. Kenneth Gilbert Adjei, took the stage and declared that Africa’s next housing and urban development must deliver affordability, liveability and resilience, adding that innovation must never come at the cost of identity.
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.
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 decentralising 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.
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 move to eliminate 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 emphasised.
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Industry giant, Goldkey Properties, was recognised 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 into its second day tomorrow, 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.
