Developer announces completion of Saglemi Housing Project within 400 days

The Managing Director of Quarm-LMI Consortium, Kofi Adabor Ofori-Amanfo, has disclosed that his outfit is looking forward to completing the Saglemi Housing Project within 400 days.

This timeline includes the completion of the abandoned 1,506 housing units that have been sitting on the site for the past seven years.

While paying a courtesy call on the Ningo Traditional Council, he noted that preparatory works, including site clearance and debris removal, were ongoing.

He assured them that the housing project would be habitable for occupants as social amenities and a centralized sewage system would be constructed.

“We have already received the right of entry and broken ground. Preparatory work is ongoing, including site clearance and debris removal. Our goal is to deliver the project within 400 days,” Mr. Ofori-Amanfo said.

He added, “We are bringing in light, water, and a centralized sewage system to make the area habitable. Structural integrity tests are being conducted on the existing units to ensure quality and safety.”

Originally designed to deliver 5,000 affordable housing units, the Saglemi Housing Project received approximately $200 million in government financing.

However, by the time the project was halted, only 1,506 units had been partially completed, with the development deemed uninhabitable due to the absence of essential infrastructure such as water, electricity, and sanitation.

A subsequent valuation conducted by the Ghana Institute of Surveyors estimated that an additional $100 million would be required to complete the 1,506 unfinished units, financing which the government could not provide.

Following this, Cabinet approved sourcing private-sector financing and technical expertise to complete the project. A Request for Proposals (RFP) was issued in April this year to achieve this objective.

To ensure a fair and transparent process, the government engaged Deloitte Ghana as the Transaction Advisor to evaluate bids submitted by Afro-Arab Properties Ltd, Quarm-LMI Consortium, Dredge Masters-Titanium, Broll Ghana Ltd, and Masiltin Group on July 8, 2024.

On Friday, October 18, 2024, the government selected Quarm-LMI as the preferred developer to complete the long-stalled Saglemi Housing Project.

SA/EK

Watch the latest edition of BizTech below:



Click here to follow the GhanaWeb Business WhatsApp channel