KOANS Beat Them All…Decorated With Property Hall Of Fame Award

Protracted land litigation has been a major challenge facing real estate developers in the country. After parting with huge sums of money to families and traditional rulers, the custodians would deliberately engage the developer with protracted litigation in the law court while injunction is placed on the said land. High interest rate on bank loans would continue to pile up frustrating the estate developer. The Chief Executive of KOANS Building Solutions, Mr. Kofi Anokye made the statement to the press shortly after he was decorated with the most prestigious award PROPERTY HALL OF FAME at the 6th Ghana Property award ceremony in Accra. He therefore suggested that, a law be enacted to allow estate companies to go ahead to develop a land under litigation and when a ruling goes against the said company, it should be made to compensate the other party appropriately. He said this would assist to lift the huge burden of interest on loans and the hiccups deliberately orchestrated by some custodians of lands in the country. He also posited that, members of the Ghana Real Estate Developers Association (GREDA) who do not build houses in conformity to the set standards should be punished severely to bring sanity in the real estate business. He condemned citing of houses on waterlogged areas and the use of inferior materials to construct such buildings. KOANS has been in existence for over a decade now and has made strides in the industry. The company has built over two thousand houses for the general public at a very lower rate.