MULTI-CONCEPT LIMITED: HELPING TO REDUCE GHANA’S HOUSING DEFICIT

The Chief Executive Officer of Multi-Concept limited, Mr. Teodoro Martinez Montero, Real Estate Company says government effort to reduce the housing deficit will be a mirage if it fails to provide loans with low interest for individuals to purchase a home. The 79 year old Spanish citizen who has over 54 years of experience on field construction development stressed that providing essential subsidies for public and private individuals housing needs would help them to provide their own homes. Mr. Teodoro Martinez Montero tells Property Express that there are no affordable houses in the country. He explained that the term ‘affordable housing’ depends on the location, production and finishing of the house. Mr. Montero introduced the concept of private sector estate development in the 1970s to compliment government housing estates with the launching of the REDCO concept in joint venture with Bank for Housing and Construction. According to him, Multi-Concept Limited (MCL) has been established to construct residential communities with built-in social amenities such as commercial, recreational, educational, clinic / health and essential security services including the provision of regulated and substantially free maintenance of environmental and common facilities associated with the residential units. Currently, Multi-Concept limited is working on the “Legonman Multi-Concept Courts” Estate Project, which comprises 6 Courts is situated at approximately 0.5km from the Northern boundary of the land of University of Ghana, Legon, Accra. With each block having a standby generator, lift, continuous independent water supply system, and centralized sanitation management, the prices for the initial 120 two-bedroom apartments are in the range of $60,000.00 and $75,000.00. Mr. Teodoro Martinez Montero said company’s housing developments are targeted at middle to upper middle and higher end priced apartments and a few exclusively deluxe bungalows. He disclosed that the “Legonman Multi-Concept Courts” Estate Project will be completed by September this year. Touching on the challenges in the Real Estate Industry, the Madridista cited land litigation and improper documentation as the major challenges that drive potential developers off the industry. Mr. Teodoro Martinez Montero advised Ghanaians to start saving now to own a house in the long term. He said if they continue to look up to the government they might feel disappointed therefore they should start saving for tomorrow. Mr. Montero has owned and managed several companies in Spain and Ghana. Starting as an assistant manager in his father´s metallurgical factory in Spain, he later served as the Managing Director of EDISOL Sl, the Chief Executive Officer of OBRATECSA (Spain), and the Managing Director of TECNICAS DE MULTICONSTRUCCION, SA in Spain. He also established and managed in Ghana a pineapple plantation, the Coin Farms since 1981. The Coin Farm was renamed Horizon Farms and expanded; it got the Ghana National Farmers Award in 2001. He has also been the CEO of Coordination and Development on Engineering & Architectural Projects in Ghana since 1992. Story: Samuel Mantey, Property Express Email: sammyoo3@yahoo.com Twitter: SamuelMantey