An awards event to reward innovative excellence in building, general real estate and allied sectors has been instituted.

The Ghana Property Awards Limited (GAPOA), a non governmental organisation (NGO), is the brain behind the awards.

The awards ceremony, which would be held on September 1, 2007, aims to keep track of all innovative developments in the property industry and enhance quality standards as well as promote confidence in the real estate and property industry.

Speaking at a press conference, Mr Ray Ankomah, a member of the Awards Committee, said that with public consultations, GAPOA currently had almost 60 finalists in about 20 award categories.

The briefing was to inform the public and stakeholders of the developments of the awards over the past year. The awards ceremony scheduled to take place last year was postponed to September 1, this year due to the preparations for the Ghana@50 anniversary celebrations.

Mr Ankomah said reviewers had been appointed by experts in each category to audit each finalist and come up with a report.

He said two committees had been set up to work and select the finalists in each category, including the Proactive Capital Group Excellence Award, Reimax Excellence Award, Property Institution Support Award, Property Firm and Company Award, Property Personality Award and Estate Agent of the Year Award.

The awards would be in gold, silver and bronze depending on the performance. The public votes would constitute 55 per cent, selection committee members 25 per cent and planning committee members 20 per cent.

He said since Ghana was a beacon of Africa, this must reflect in her building and real estate industry after 50 years and that the awards would help promote confidence in the real estate and property industry.

Mr Ankomah called on industries to sponsor the event and use it to create a lasting awareness for their businesses. He commended Emefs, African Concrete Products and Zenith Bank for their sponsorship.

Source: GNA