Saglemi Too Expensive: Akufo-Addo Defends Move To Wash Hands Off Troubled Housing Project

• President Akufo-Addo has said the government cannot afford to hold on to the controversial Saglemi housing project
• He said the government needs to spend $46 million to complete infrastructure work on the project
• The president said the government has already spent $198 million on the project, which remains unused

President Akufo-Addo has reiterated the government's decision to hand over the Saglemi housing project to a private investor.

Speaking in Accra, Akufo-Addo said the project was too expensive to continue.

He said the government could not raise the needed $46 million to complete infrastructure work on the project

“Further, $68million is required to complete the buildings and other essential on-site infrastructure works like the waste holding bay, sewage treatment plants and the development of socioeconomic and civic infrastructure such as basic school, clinic and shops,” the president added.

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Akufo-Addo disclosed that $198 million has already been spent on the project, which remains abandoned.

Works on the Saglemi Housing Project began in 2016 under the Mahama administration.

Ghana had secured a $200 million credit facility from Credit Suisse International for the construction of affordable housing units by Construtora OAS Limited.

It is currently the subject of a criminal investigation and prosecution of some former government officials.

Opposition to possible sale of project

YEN.com.gh reported that the tenants union of Ghana raised concerns about the sale of the Saglemi housing project to a private firm.

The group said allowing a private developer to take control of the project would lead to an astronomical increase in the cost of houses.

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At the time, the group issued a 60-day ultimatum to the government to reverse that decision.

Support of sale from GREDA

The planned sale of the Saglemi Housing Project did get the support of the Ghana Real Estates Developers Association.

The association said the move by the government would end years of neglect.

The GREDA executive secretary, Samuel Amegayibor, said the move by the government showed commitment to put the 1,500 housing unit to good use after many years of seeming neglect.

Source: YEN.com.gh