Patrick Bonful
Land banking has emerged as a critical pillar in the country’s urban growth and infrastructure planning, as industry players across real estate, property development and investment were honoured at the 18th Ghana Property Awards in Accra.
The awards ceremony, organised by the PS Group and held at the Accra International Conference Centre, brought together developers, financiers, policymakers and investors to examine how efficient land acquisition and management can accelerate national development.
The event was held under the theme, “Celebrating Excellence in Efficient Land Banking for National Development in Ghana.”
Delivering the keynote address, the Chief Executive Officer of PS Global Limited and Chairman of the Ghana Property Awards, Patrick Bonful, described land banking as a strategic tool for guiding the nation’s urban expansion and infrastructure investments.
He explained that the practice of acquiring and reserving land for future development was becoming indispensable in managing rapid population growth, urban sprawl and the increasing demand for housing and social infrastructure.
“Land banking has become a pivotal instrument for managing urban expansion, facilitating infrastructure projects and ensuring equitable access to land resources. As Ghana continues to urbanise rapidly, the importance of efficient land banking in national development cannot be overstated,” Mr. Bonful said.
He further praised the role of the Lands Commission for advancing reforms aimed at reducing land disputes and improving transaction efficiency through digitisation and modern regulatory frameworks.
According to him, the use of technology in land administration is helping to set new standards in transparency and security, while allowing modern land management practices to coexist with customary land tenure systems.
Mr. Bonful also underscored the collaborative role of key stakeholders, including traditional authorities, local communities, developers, institutional investors and government agencies, in driving successful land banking initiatives across the country.
He noted that such partnerships have supported the identification and acquisition of land for community development projects, affordable housing schemes, agricultural ventures and large-scale infrastructure works, helping to unlock economic value and improve livelihoods.
“The Ghana Property Awards, now in its 18th year, continues to serve as a national platform for recognising excellence, innovation and professionalism within the built environment and property development ecosystem, while shaping policy conversations around sustainable urban growth, development, hospitals, schools, and stadia.
“All of these are essential for improving livelihoods, reducing poverty, and increasing economic prosperity among the citizenry,” Mr. Bonful noted.
Madam Irene Agyenkwa, Director of the Ghana Property Awards, also addressed the audience, emphasising the resilience and adaptability of Ghana’s property sector.
“In a rapidly urbanising Ghana, land is not just a resource; it is the foundation of sustainable development. Strategic land banking ensures that cities expand in an orderly, equitable, and environmentally conscious manner,” she stated.
She added, “In this ecosystem, MMDCEs and local authorities play an essential supporting role. Their collaboration with developers and investors strengthens the property market and contributes to the country’s sustainable urban growth.
“The true measure of success in land banking lies not only in profitability but in its ability to create inclusive communities, protect heritage, and drive long-term prosperity,” she asserted.
In a speech read for him, the Minister of Works and Housing, Kenneth Adiel, highlighted the ministry’s commitment to land banking as a national priority.
“Land-banking is about vision, about ensuring that the next generation inherits cities that are livable, inclusive, and resilient. I urge all stakeholders to embrace this responsibility. Let us bank land not just for profit, but for people,” he said.
The event featured several award categories, recognising the outstanding contributions of developers, investors, and professionals in advancing sustainable development in the country’s property and real estate sector.
The night was punctuated with thrilling music and presentations, celebrating the accomplishments of key industry players and inspiring further innovation and collaboration.
By Stella Botchwey