Home Top Story Saglemi Housing: Government Considers Project Sale To Private Investor

Saglemi Housing: Government Considers Project Sale To Private Investor

by Vesta Daily
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Saglemi Housing: Government Considers Project Sale To Private Investor

Francis Asenso Boakye, the minister of works and housing, has stated that the government intends to investigate the possibility of selling the Saglemi Housing project to private investors for completion.

According to him, this is done without cost to the State, and the money from the sale will be put back into the development of more affordable housing.

On Sunday, November 13, he said the decision was made after painstaking consultation, verification, and assessment while speaking at a press conference in Accra.

According to the Bantama lawmaker, the government has chosen to investigate the possibility of selling the Saglemi Housing project, which includes 1506 housing units, to a private sector entity to finish and resell at no additional cost to the state at the current value.

The state will receive the sale proceeds and invest them in a project to build affordable housing.

“A technical working team composed of professionals and experts has been established to facilitate the process. This team will oversee and lead all engagements necessary for the project’s completion.”

Under an Engineering-Procurement-Contracting (EPC) Agreement with Messrs Constructora OAS Ghana Limited, the project was launched in 2012 with the goal of delivering 5000 housing units for a total cost of $200,000,000.

He continued, “By the time the project’s completion date came around, the original contract had been changed three times, and the project scope had been reduced from the initial 5000 housing units to 1506 housing units, even though $195,854969.52, or 98% of the project funds, had been spent.

Vesta Daily
Author: Vesta Daily

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