SuCasa Properties, a leading real estate company in Ghana, has unveiled the second phase of its O’Grantson Communities located at East Legon Hills in Accra.
The No.2 O’Grantson Communities, consisting 55 housing units, is the second of four luxurious housing settlement project being constructed by SUCASA Properties and their partners as part of efforts to reduce Ghana’s housing deficit.
The company unveiled the first phase in February 2023 prior to this second phase. The No. 3 O’Grantson Communities (816 units including malls and cinemas) and the No. 4 O’Grantson Communities located at Ayi Mensah are scheduled to be completed next year to make housing units affordable for Ghanaians.
Unveiling
Speaking at the event, the Minister for Works and Housing, Kojo Oppong Nkrumah has said that government had put together a Public-Private Partnership (PPP) Framework with an incentives package aimed at supporting private sector developers to enable them deliver affordable housing units to Ghanaians.
He mentioned that the primary objective of the PPP Framework, which is yet to be laid before parliament, is to close the existing 1.8 million housing deficit in the country. “In this Public-Private Partnership Framework, government is going to be making land banks available to private developers; government will go to parliament to ask parliament to give task waivers on imported machines and materials for large scale construction projects,” he said.
“We are also in the process of working with the banks to ensure that we, through the National Home Ownership Fund, can make funding available to the banks so that they can give you affordable construction finance so that by the time you are done with the properties, prices are actually affordable.”
Affordable housing
He expressed worry over the high prices of accommodation due to challenges in acquisition of land, high cost of building materials, high taxes and inexistence affordable construction finance among others faced by private developers.
“Everybody is talking about affordable housing but if we leave you to do all of these, by the time you are done, that affordable housing unit will not be affordable. In fact, as we sit here, let’s ask ourselves how many of our average Ghanaians can buy the properties that are here?
“So what we’ve done is that we have put together what we call a Public Private Partnership Framework with an incentives package aimed at supporting the private sector so that they can deliver on the affordable housing that we are looking for. It is important that government works with the private sector to close this 1.8 million gap,” he said.
Impact
CEO of SuCasa Properties, Michael O’Grantson-Agyapong, said his outfit would continue to make impact in the industry like none other in the shortest possible time.
Mr Agyapong added that affordable housing was a major challenge in Ghana but SuCasa were ready to go the extra mile to complete their third and fourth O’Grantson Communities as part of efforts to reduce Ghana’s housing deficit.
The No. 3 O’Grantson Communities (816 units including malls and cinemas) and the No. 4 O’Grantson Communities located at Ayi Mensah he said were scheduled to be completed next year to make housing units affordable for Ghanaians. “We will continue to focus all of our energies on a good fight on making an impact like non other else and not within the shortest possible time but immediately.”
“Affordable and accessible housing is a big problem for all of Ghana but we promise that we are a bigger solution and the task is not as bigger than our abilities as a company, as a country and as a people,” he said.
Intervention
For his part, Member of Parliament for Adenta Constituency, Abu Ramadan mentioned that the private sector had a role to play in reducing Ghana’s 1.8 million housing deficit however, it would require government intervention to make the dream a reality. “I believe that private sector has a role to play in reducing this housing deficit. I believe that if government partners them very well and government does the amenities like roads, electricity and water so that private sector can come and put up the houses, I am sure it should help in reducing that deficit,” he said.
“I know currently, there is a housing deposit of about 1.8 million but gladly, the CEO said that they are looking at going into affordable housing so they have done number one, this is number two, there is a number three across the street and I am sure God willing, with good health and long life, we will be counting number 50 hopefully, in the unveiling process,” he added.
The unveiling ceremony was interlaced with cultural performances and choral music. In attendance were Director of Diaspora Affairs, Office of the President, Kwasi Awuah Ababio; Chairman of the Board of SuCasa Properties, Francis Ato Brown; and Chairman of the Board of Director of the ERMCRI Group, Kweku Koranteng O’Grantson Agyapong.
