By Iddi Yire, GNA
Accra, Jan 28, GNA – Mr Kenneth Gilbert Adjei, the Minister of Works, Housing and Water Resources, has reiterated the Government’s commitment to complete the stalled affordable housing projects across the country.
He said Ghana continues to grapple with a substantial housing deficit, currently estimated at over 1.8 million units, adding that this gap was further exacerbated by widespread affordability challenges, which prevent a large portion of the population particularly low- and middle-income earners from accessing safe, secure, and dignified housing.
Mr Adjei said this in his remarks when he took his turn at the Government’s Accountability Series Press held at the Presidency in Accra.
He noted that rapid urbanization har intensified the situation.
He said with more than half of the country’s population now residing in urban areas and projections indicating that this could rise to over 72 per cent by 2050 the demand for housing in metropolitan centres such as Accra, Kumasi, and Takoradi has grown exponentially.
The Minister said unfortunately, the supply of housing had not kept pace with this demand, resulting in overcrowding, soaring property prices, and the expansion of informal settlements.
Mr Adjei said this scenario underscores the urgent need for coordinated, forward-looking interventions that simultaneously address housing supply and affordability, while promoting sustainable urban planning to match Ghana’s evolving demographic realities.
The Minister said the TDC Ghana Ltd had continued work on 800 housing units under the Kpone Affordable Housing Project at Tema Community 26.
Adding that these units were at various stages of completion and progressing steadily.
He said having regard to the quest to position TDC Ghana Ltd as a key player in Ghana’s housing industry, President John Dramani Mahama cut sod last year for the construction of the Oxygen City Housing Project in the Volta Region.
Mr Adjei said this landmark initiative seeks to address Ghana’s housing deficit through the development of 800 modern two- and three-bedroom apartments under.
He said this project was the first by TDC Ghana Ltd outside the Tema Acquisition Area.
Mr Adjei said the 1,860-acre Oxygen City Housing Project was envisioned as a well-planned, serviced, and economically integrated community, featuring essential amenities such as a school, hospital, shopping mall, gym, and recreational center.
“The project has commenced and is scheduled for completion in June 2027.
Additionally, the Ministry has intensified engagement with the selected developer for the completion of the Saglemi Affordable Housing Project,” he said.
“Following the completion of the developer selection process led by Deloitte Ghana, the Transaction Advisors, the Heads of Terms have been duly signed by both parties, and the Shareholders’ Agreement has been drafted and mutually agreed upon.”
Mr Adjei said the document was currently with the Attorney-General for review and finalisation.
Adding that meanwhile, the Joint Venture (JV) arrangement has been concluded among all parties and was expected to be formally executed in the coming weeks.
Similarly, the State Housing Company Limited has continued work on key projects, including the Surge Homes development at Amrahia and the SHC Gardens project.
He said both projects are targeted for completion by the end of 2025, with progress currently at 68 per cent and 70 per cent, respectively.
GNA.
Kenneth Odeng Adade