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Ofori Atta, Atta-Akyea visit affordable housing sites in Tema

Tue, 20 Oct 2020 Source: GNA

The Ministers of Finance and Economic Planning, Ken Ofori-Atta, and Works and Housing Minister, Samuel Atta Akyea have paid a working visit to two affordable housing project sites near Tema.

They were accompanied by officials from some other government officials who together visited the Adom City Estates at Tema Community 25 extension in the Ningo-Prampram District and the Community 26 Affordable housing in the Kpone-Katamanso Municipality

One thousand, five hundred housing units are expected to be delivered at affordable prices to public sector workers at the Adom City Estates which is a private initiative supported by governments and some banks.

Two-hundred and forty-five of the houses are to be provided in phase one of the project, while 320 and 400 would be tackled in phases two and three respectively.

The Community 26, Kpone affordable housing project which was started under former President Kufour’s government and later handed over to the TDC Development Company Limited now has 11 blocks completed with an additional 46 and 93 blocks respectively to be completed by the end of the first quarter of 2021, and 2023.

The project when completed would have 304 studios, 536 ordinary one-bedrooms, 800 special one bedrooms, and 1,376 two bedrooms with social amenities including police post, clinic, school, recreational areas, mini lorry station, shops, and infrastructures at an estimated cost of GH¢315 million.

Mr Ofori-Atta said as part of the government’s plans to revive the affordable housing scheme and to bridge the over two million housing deficit, his outfit established the National Housing and Mortgage Fund (NHMF) to provide capital to banks participating in the sector at two percent to fund such projects.

He indicated that the NHMF which consisted of the National Mortgage Scheme (NMS), and the Affordable Housing Real Estate Investment Trusts (REITs) which is a rent-to-own scheme would enable individuals, especially public sector workers own an affordable house at a mortgage which must not be go beyond 12 percent.

He disclosed that the government is partnering with the Ghana Real Estate Developers Association (GREDA) to provide at least 200 housing units annually, disclosing that even with the COVID-19, a pilot had successfully been completed within nine months at Tema Community 22.

Mr. Atta Akyea, on the other hand, said the government sees affordable housing as divine, and as such it has intended to massively provide that for Ghanaians.

He indicated that at least 40 percent of the two million housing deficit would be bridged in the next four years across the country under the scheme after the successful implementation of the pilot.

Source: GNA

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