Economy

Gov’t courts private investors’ support in reducing housing deficit 

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Works and Housing Minister Francis Asenso-Boakye says government remains commitment to deepening collaborations with private sector investors in its quest to provide homes that are accessible to Ghanaians.

“Government recognises the importance of investing in this industry, as it holds the key to the sustainable development of our dear country,” he said.

Commissioning SuCasa properties’ O’Grantson No.1 Community at East Legon Hills, the minister said commissioning of this project is a confirmation that the desired environment is being created by government to attract private sector investments into the housing sector.

“Indeed, the industry contributes to our country’s socio-economic development by providing significant employment opportunities for both skilled and non-skilled labour,” he added.

He revealed that the ministry will review and enact a legislation to address the institutional gaps, to create the appropriate platform for best practices within the industry.

In addition, he said his ministry has initiated the process to establish the Ghana Housing Authority, which will have the mandate to regulate, plan and manage housing developments in the country, in collaboration with private-sector developers.

“Additionally, the Rent Act, 1963 (Act 220) (as amended), which was passed by Parliament some 60 years ago and has, therefore, outlived its relevance due to rapid urbanisation, and population growth, among others, and is currently undergoing extensive review to reflect modern trends and dynamics in the housing sector,” he said.

Unveiling of SuCasa Properties

Real estate company SuCasa Properties Limited commissioned phase one of the SuCasa O’Grantson No.1 Community at East Legon Hills.

The Chief Executive Officer of the company, Michael O’Grantson-Agyapong, said his company aim is to tackle the housing infrastructure deficit through the provision of affordable housing units for Ghanaians.

“As a business, we are consciously keeping the prices of our houses affordable because we believe affordable housing is a must-have for every Ghanaian.

“The grand vision of SuCasa is to build 2000 houses by the close of 2023. We expect to complete phase two of the O’Grantson Community project in March and commission it in April and complete phase three by the end of the year,” he said.

The second phase of the project christened No. 2 O’Grantson Communities (55 units) is on schedule to be commissioned in April while the No. 3 O’Grantson Communities (816 units including malls and cinemas) and the No. 4 O’Grantson Communities located at Ayi Mensah would be completed later in the year.

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