Government is one step closer to resuming work on the long-abandoned Saglemi Housing Project, as two preferred bidders have been shortlisted for final negotiations.
This comes after weeks of careful evaluation and due diligence conducted by transaction advisors, Deloitte Ghana.
Out of the 10 firms that initially expressed interest in completing the project, only five submitted bids by the close of the bidding process in July 2024.
Following a thorough review, two companies have been selected for the final phase of negotiations, where one will be chosen to partner with the government and complete the housing project.
The Ministry of Works and Housing is expected to finalize the selection based on the most favourable negotiating terms.
According to the Minister for Works and Housing, Kojo Oppong Nkrumah, the government is committed to remaining focused and meticulous in this transaction to ensure the successful completion of the project.
Background of the Saglemi Housing Project
The Saglemi Housing Project was initiated with a $200 million contract aimed at constructing 5,000 affordable housing units to alleviate Ghana’s housing deficit.
However, by January 2017, only 1,506 units had been completed or were in various stages of completion, despite $197 million having been paid to contractors.
The project has since been plagued by delays, leaving thousands of units unoccupied and incomplete.
Government’s efforts to restart and complete the project have been met with both anticipation and scrutiny, as the Saglemi project is seen as a critical solution to Ghana’s affordable housing challenges.
The selection of a partner from the two preferred bidders marks a significant milestone in the government’s commitment to seeing the Saglemi Housing Project through to completion, providing much-needed affordable housing to Ghanaians.