President Nana Addo Dankwa Akufo-Addo has pledged government’s support for the housing sector, urging private entities to come on board to reduce the country’s growing housing deficit.
Speaking at the ground-breaking ceremony for commencement of the first phase of the affordable housing project at Appolonia City, located in the Kpone Katamanso Constituency, the President called the project laudable as it is line with government’s vision of addressing housing challenges in the country.
“The government, I believe, is the natural cheer-leader for the private sector, and we shall do all we can to provide an enabling environment for the private sector to flourish in Ghana. I promise the private partners of this project that Ghana will be a great place to do business under my watch.
“The project is in line with government’s vision of using an appropriate mix of public policy and private-public investment to deliver quality, affordable social housing, and private housing solutions that meet the needs and financial capacity of the ordinary Ghanaian. It is a laudable initiative, and I want to encourage others to emulate it,” he said.
With a housing deficit of over 1.7 million housing units, the Appolonia City project is one of several initiatives designed to ensure the construction of an efficient, cost-effective, and sustainable housing sector.
President Akufo-Addo also urged the project partners, including Ghana Home Loans, the mortgage providers, to adhere to the rules and regulations of the sector in order to ensure sanity and smooth implementation of the initiative.
The United States Ambassador to Ghana, Robert Jackson, commended the partners of the project, adding that the government’s support for such an initiative, goes to affirm its commitment to ending the housing crisis in the country.
He also applauded the President for tackling land title and property issues, which form a critical part of improving the real estate sector.
The first phase of the of the project will see Appolonia City, Accra’s new city development, in partnership with the country’s leading mortgage provider, build 100 units on a six-acre land, which is due for completion within 18 months.
The project will entail high-quality infrastructure, including tarred roads, ICT networking and integrated safety and security systems, as well as social infrastructure, such as schools, clinics, open green space and shops.
While Appolonia City is responsible for building the homes, Ghana Home Loans will focus on selling to its clients backed by a mortgage plan. The project will see multiple Ghanaian and foreign contractors engaged at various stages.
Appolonia City is a 2,325-acre (941-hectare) mixed-use and mixed-income urban development located just 20km from the centre of Accra. The project includes a variety of social infrastructure underpinned by world-class construction and estate management services.
Residential sales with a range of financing options are available by purchasing a plot to build your own house in Nova Ridge or an existing home at the Oxford development. Appolonia Business Park offers 70 acres (30 hectares) of modern commercial areas. The park is designed to accommodate a range of uses including manufacturing, processing, storage, logistics and service companies.