Proceeds from Saglemi sale will be reinvested into affordable housing project – Minister

Minister of Works and Housing, Francis Asenso-Boakye, has noted that proceeds from the sale of the Saglemi housing project will be reinvested into another affordable housing project.

He made this disclosure at a press briefing held in Accra on Sunday, November 13, 2022.

Speaking on the sale of the Saglemi housing project, he said, discussions were ongoing for a private sector developer to take over government's affordable housing project.

Francis Asenso-Boakye further stated that the developer will be in charge of selling the housing units when completed.

“Proceeds from the sale will come to the state and reinvested into affordable Housing project...To facilitate the process a technical working team has been set up, comprising professionals and experts to oversee and spearhead all engagements required for the completion of the project,” he stated.

The Housing Minister noted that a committee will be commissioned to guide the process and ensure transparency in the bidding process.

The Saglemi housing project which commenced in 2012 under the NDC government aimed at building 5000 housing units.

The project later stalled after an allegation of misappropriation of funds.

According to the Housing Minister, the 1500 units built under NDC were inhabitable and an amount of about US$46 million was needed to provide water, electricity and storm drains.

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