Business News of Thursday, 8 January 2015
The Tema Development Corporation (TDC) has commence the construction of eight blocks of eight storey flats under its in-filling project at Tema Community one site three.
The two and three bedrooms apartment’s flats, when completed would provide 128 units of apartments.
The first phase of the project consisting of four out of the eight blocks and two commercial blocks is estimated at GH¢17.5 million and expected to be completed within 18 months.
Mr Joe Abbey, Managing Director of TDC, said the premise of the redevelopment project was to optimize the use of land between the old flats constructed some decades ago.
Mr Abbey said a two-storey commercial facility with a community meeting hall and library would be constructed under the project.
He added that all other utility services would be expanded to accommodate the anticipated increase in population adding that there would be dedicated electricity transformer for the area and water pumps to ensure that water reaches the eighth floor.
He gave the assurance that even though it was attractive to do outright sale, TDC was committed to building a solid rental portfolio in housing and would therefore ensure that at least some blocks were reserved for rental purposes under very strict conditions for purposes of maintenance.
The MD indicated that the corporation’s redevelopment effort was of prime importance and would manifest their intentions for the renewal of the Metropolis using the in-filling project as a showcase of the turnaround TDC intends to bring to the communities.
Mr Abbey said China State Hualong, the contractors for the project, have given every indication of their commitment to complete the project on schedule and asked for the corporation of residents.
Alhaji Collins Dauda, Minister of Water Resources, Works and Housing, said there was the need for an aggressive redevelopment exercise in the country due to the increase in population and high rate of housing deficit.
Alhaji Dauda noted that lands were being underutilized and called for the construction of more high-rise buildings.
He indicated that the TDC in-filling project was in tune with objectives of the Housing Policy to promote housing schemes that maximizes land utilization and accelerate home improvement which included upgrading and transformation of the existing housing stock.
He bemoaned the lack of maintenance culture amongst Ghanaians and encouraged the TDC to set up a strong facilities’ management office and come up with strict compliance arrangements to ensure the longevity of the blocks.