Otumfuo Osei Tutu II, Asantehene
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13th July, 2010
Otumfuo Asks Chiefs To Use Land As Equity
Otumfuo Osei Tutu II, Asantehene, has urged chiefs to partner estate developers by releasing lands for housing projects that will reduce the housing deficit facing the country.
He said “you can release large tracts of land for such projects by using them as your equity to the deal.
This is contained in a press statement from the Manhyia Palace following a visit to the Palace by some members Mckeown Investment Company, a real estate company.
Officials of the company called on the Ashantehene to brief him on the company’s investment policy in terms of estate development.
The Asantehene commended the company, a local company for going into estate development indicating the need for government to assist it financially.
He advised chiefs not to sell lands indiscrimatory, while pocketing the monies without accounting to the people.
Otumfuo Osei Tutu pointed out that a number of chieftaincy disputes out of the sale of stool lands and warned that he would not tolerate any chief in Ashanti who fail to account for stool lands sold when he appears before him.
He said in some cases because there are no documents covering the sale of lands, some chiefs indulge in the double sale of plots which he said is criminal and the offenders could be prosecuted.
The Asantehene advised chiefs to get qualified surveyors to do proper demarcation of plots so that they will not be tempted to sell a plot of land to two or three persons at the same time.
Otumfuo Osei Tutu said; “let us know, as traditional rulers, that we cannot manufacture lands as any stool land sold now is gone forever.
Those who suffer out of this transaction are our children yet unborn because they come to meet no land to build or farm to produce food”.
Mr Clement Wilkinson, CEO of Mckeown Estate Developers, explained that they acquire lands and service the plots by providing roads, streets, electricity, police station and schools for community and sell to those who can buy.
He said “you can release large tracts of land for such projects by using them as your equity to the deal.
This is contained in a press statement from the Manhyia Palace following a visit to the Palace by some members Mckeown Investment Company, a real estate company.
Officials of the company called on the Ashantehene to brief him on the company’s investment policy in terms of estate development.
The Asantehene commended the company, a local company for going into estate development indicating the need for government to assist it financially.
He advised chiefs not to sell lands indiscrimatory, while pocketing the monies without accounting to the people.
Otumfuo Osei Tutu pointed out that a number of chieftaincy disputes out of the sale of stool lands and warned that he would not tolerate any chief in Ashanti who fail to account for stool lands sold when he appears before him.
He said in some cases because there are no documents covering the sale of lands, some chiefs indulge in the double sale of plots which he said is criminal and the offenders could be prosecuted.
The Asantehene advised chiefs to get qualified surveyors to do proper demarcation of plots so that they will not be tempted to sell a plot of land to two or three persons at the same time.
Otumfuo Osei Tutu said; “let us know, as traditional rulers, that we cannot manufacture lands as any stool land sold now is gone forever.
Those who suffer out of this transaction are our children yet unborn because they come to meet no land to build or farm to produce food”.
Mr Clement Wilkinson, CEO of Mckeown Estate Developers, explained that they acquire lands and service the plots by providing roads, streets, electricity, police station and schools for community and sell to those who can buy.
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