The Technical Working Group tasked to oversee the completion of the Saglemi Housing Project has been given five weeks to issue the international expression of interest to pave way for private sector participation.
Minister of Works and Housing, Kojo Oppong Nkrumah, who issued the directive, said, the move would enable the Ministry to commence the processes to engage a private partner to complete the project.
Addressing the media yesterday during a tour of the facility, he noted that, the involvement of the private sector was a strategic decision to complete the project without additional cost to government.
Accompanied by other officials of the Ministry, the Minister further toured the 3016 No Affordable Housing Units at Kpone, near Tema, National Home Ownership Fund, National Affordable Housing Project at Pokuase, Security Services Housing Project, Phase III, Tesano, Construction of 64No and 48No Housing Projects at Lartebiokorshie.
Citing a technical assessment report by the Ghana Institution of Surveyors, he said, US$100 million would be required to complete the project.
"Per the assessment, we need US$100 million to complete this project. We currently do not have the resources to commit to it. We have a tight fiscal space.
This is why Cabinet has approved for us to engage a private developer or group that can bring on board the funds and expertise to complete the project," Mr Oppong Nkrumah stated.
Currently, 1,506 housing units of the project, he said, were at various stages of completion.
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He further directed the officials to put in place security measures to forestall theft of construction materials and site equipment.
The Minister noted that, the government had prioritised the completion to support efforts to reduce the country's housing deficit of 1.8 million.
At Kpone, Mr Oppong Nkrumah assured the developers, TDC Company Limited, of continuous support towards the development of more affordable housing projects.
He stated that, owing to the company's experience in the housing sector, it would be considered for participation in the development of the National Affordable Housing Scheme project at Pokuase.
He challenged the company to re-look into its construction financing, which in some cases, had contributed to high prices of housing units usually meant to be affordable.
"The aim of affordable housing is to ensure that all citizens can have the opportunity to own their own home. The barriers that have impeded this is how development project have been financed.
"Let's work together to identify innovative financing arrangements that do not impact negatively on pricing," he added.
