Saglemi Housing Project bad investment -Akufo-Addo justifies new housing project

President Nana Addo Dankwa Akufo-Addo on Tuesday, August 1, 2023, cut sod for the construction of 8,000 units of affordable houses in Pokuase, Accra.

The project, part of the National Affordable Housing Project has been spearheaded by the President himself, will be executed with the support of the private sector.

Speaking at the sod-cutting ceremony, President Akufo-Addo justified the need for the commencement of a new affordable housing project despite the fact that the Saglemi Affordable Housing Project in Accra remains uncompleted, and is wasting away.

He explained that the Saglemi Housing Project does not appear economically viable for Government to invest any further in it. Therefore the project will be sold to the private sector, which will then complete it and serve the public with it.

“Based on these assessments and having taken into account the project location and viability, Cabinet directed the resourceful Minister for Works and Housing, Hon Francis Asenso-Boakye, Member of Parliament for Bantama, to ‘explore the possibility of disposing of the Saglemi Housing Project covering 1,506 housing units at the current value to a private sector entity to complete and sell the housing units to the public and no further cost to the government,” he announced.

He noted with the new project, the necessary due diligence has been done to avoid the challenges of the Saglemi Housing Project that has caused it to stall, adding that plans are already far advanced to enable the construction of the project to commence soonest since the Public Procurement Authority (PPA) has already settled on a transaction advisor for the project.

“Indeed the lessons learnt from the Saglemi Housing Project have been invaluable in shaping the approach and execution of this new affordable housing initiative,” he stressed.

Meanwhile, the Minority in Parliament have criticised the President for cutting sod on a project that is yet to be approved by Parliament when he knows the project must receive parliamentary approval before the commencement of work.