With the current housing deficit of about two million units, government through a private sector investment will roll out 5,000 housing unit at Ojobi near Kasoa, as part of the Ghana Affordable Housing project.
This follows the signing of a Memorandum of Understanding (MoU) between HS KODANA Company Limited, a construction company and SIDRE EPCM INVESTMENT TOURISM INC, a Turkish Company.
In all HS Kodana Company Ltd is expected construct a minimum of 100,000 housing units in the next 4 years across all the 16 regions of the country, of which the Ministry in collaboration with all the stakeholders will allocate investors the required project sites for the projects to be undertaken.
Under this arrangement a minimum of 100,000 housing units is expected to be constructed in the next four years across all the 16 regions of the country, of which the Ministry of Works and Housing in collaboration with all the stakeholders will allocate the required project sites for the projects to be undertaken.
Speaking at the signing ceremony, the Deputy Minister for Works and House, Freda Prempeh said, “…with the current housing deficit close to about two million, and if we really want to close this gap we need to be looking at supplying about 100,000 every year.”
In providing security for the private investment, the Ministry of Works and Housing in consultation with the Ministry of Finance will issue guarantee of international consequence via a bank or any financial institution agreeable to all stakeholders relating to each years deliverables of housing units.
Government has indicated to establish a GHc 1 billion mortgage and housing finance to leverage private capital provide affordable houses for the populace.
Under the government’s Affordable Housing Project, 1,030 housing units representing 80 percent has been completed at Asokore-Mampong. Out of the 5,000 Saglemi Housing Units, 4,314 units will be completed in 2019.
By Joshua W. Amlanu