The Saglemi Housing Units are expected to be handed over to a private developer for redevelopment within the next 14 days as the government nears the final stages of negotiations.
This development was announced by the Minister for Works and Housing, Kojo Oppong-Nkrumah, during a press briefing in Accra on Monday, September 30, 2024.
This progress follows President Akufo-Addo’s approval of a framework for negotiations with successful bidders, in response to a request made by Minister Oppong Nkrumah last month.
Initially conceived to deliver 5,000 affordable housing units, the Saglemi Housing Project had approximately $200 million in government financing. However, by the time the project was halted, only 1,506 units had been partially completed, and the development was deemed uninhabitable due to a lack of essential infrastructure such as water, electricity, and sanitation.
A valuation by the Ghana Institute of Surveyors later determined that an additional $100 million would be required to complete the unfinished units, a sum the government was unable to provide.
“Cabinet has directed the Ministry of Works and Housing to explore the possibility of selling the partially completed Saglemi Housing Project to a private sector entity to complete and sell the units without further government investment, and negotiations will be finalized within the next 14 days,” the minister stated.
He further explained that under the approved framework, the current value of work done at Saglemi will be treated as government equity in the project, while the completion cost will be treated as the equity of the selected private partner in a Special Purpose Vehicle (SPV) to be created for the project’s completion.
Proceeds from the sale of the completed units will then be shared between the government and the private partner based on their respective stakes in the SPV.
The minister revealed that five firms had submitted bids for the project, with two shortlisted for final negotiations: Quarm-LMI Consortium and Broll Ghana Ltd.
Mr. Oppong Nkrumah’s remarks come at a time when Ghana faces a housing deficit of 1.8 million units, a marked improvement from 2.8 million in 2010.
He underscored the need for innovative solutions to ensure that all citizens can access decent and affordable housing.
“Housing is not just a necessity but a fundamental right,” he emphasized. “A secure, decent, and affordable home is essential to one’s well-being, providing a sense of security, dignity, and opportunities for growth and development.”
In addition to the Saglemi project, the minister also touched on other stalled housing initiatives, including the Koforidua Affordable Housing Project, which has been handed over to the State Housing Company Limited for expedited construction.
“This project aims to expedite construction while maintaining high standards of quality and efficiency,” he concluded.






