Sydney Ofei-Sah (left) presenting the MoU to an official of the Turkish
A Memorandum of Understanding (MoU) has been signed to signify the commencement of a project to build 100,000 housing units in Ghana.
The deal, which was reached between Sidre EPCM Yatirim Turism A.S, a Turkish company and HS Kodana Company Limited, a construction company, has the support of the Government of Ghana.
Over the next four years, the 100,000 units are to be built at Ojobi, near Kasoa in the Central Region.
The Turkish company is to kick-start the project this year with about 5,000 units.
The project is in line with President Akufo-Addo’s plan to provide affordable housing for the low and middle-income earners in Ghana.
Speaking at the signing ceremony on Tuesday in Accra, Deputy Minister of Housing, Freda Prempeh, said Ghana needs at least 100,000 housing units each year to address its housing deficit, which is in the range of two million.
HS Kodana Company is to construct a minimum of 100,000 housing units across the 16 regions of Ghana, according to the Director of Communications at HS Kodana, Sydney Kofi Ofei-Sah.
He said the Ministry of Works and Housing was in consultation with the Ministry of Finance to issue the two parties with the requisite guarantee of international consequence via a bank or any financial institution agreeable to all stakeholders relating to each year’s delivery of housing units in the country.
By Melvin Tarlue