President Nana Addo Dankwa Akufo-Addo has broken ground for the construction of an ambitious 8,000-unit housing project at Pokuase.
In his address, the President highlighted that this project marks the first time the private sector is partnering with the government for such an undertaking.
The construction will utilise locally produced materials, including burnt bricks, to promote local industries.
The President acknowledged that a significant portion, approximately 65% of Ghana’s population cannot afford to own a house even with government support.
Therefore, this initiative aims to address the housing affordability issue by providing affordable housing options for citizens.
Drawing from past experiences, particularly the Saglemi Housing project, President Akufo-Addo emphasized that thorough feasibility studies were conducted before commencing the Pokuase Housing project to avoid previous pitfalls.
Regarding the Saglemi Housing project, which encountered challenges under the previous government, the current administration is seeking a competent private sector entity to complete the 1,500 stalled housing units.
The government has allocated an additional $114 million on top of the already spent $198 million to finalize the project. The goal is to eventually sell these completed units to the general public.
In addition to the Pokuase and Saglemi projects, the Minister of Works and Housing, Francis Asenso Boakye, announced that a 200-acre land has been generously provided by Asantehene Otumfuo Osei Tutu II in Dedesua, Ashanti Region, for the construction of 6,000 more housing units.
To ensure the success of these Affordable Housing projects, the government has adopted a revised National Affordable Housing program called “My Home My Peace.”
Under this program, the government will subsidize housing units with land and infrastructure, while the private sector will raise funds for construction on a cost-recovery basis.
The Pokuase Housing project is expected to be completed within fourteen months, making it the most extensive single Affordable Housing program ever initiated by the Ghanaian government. The government remains committed to completing all affordable housing projects initiated by previous administrations, and stringent measures are in place to ensure the intended target group benefits from these initiatives.
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