Business News of Tuesday, 3 March 2015
Minister of Water Resource, Works and Housing, Alhaji Collins Dauda, has commended contractors of the Saglemi Housing Project in Prampram for meeting key deadlines of the project.
During an inspection of the 1,502-housing project, Mr. Dauda said with the current pace of work, the first phase of the project should be completed by March 2016.
According to him, it would be possible for the houses to be inhabited after the first phase.
On November, 6, 2013, President John Mahama cut the sod for the commencement of the Saglemi Housing Project — described as the most ambitious housing project in Ghana since Independence.
The model for the project involves the reinvestment of returns from the sale of the houses into further construction of new houses, creating a self-liquidating effect.
Mr. Collins Dauda’s Ministry is confident that over the next six years, an additional 9,000 houses would be built to form part of a township complete with recreational, industrial, commercial and other social facilities.
According to the Minister, the marketing strategy for the project is still under development, however, he was hopeful it would soon be completed and communicated to the Ministry of Water Resources Works and Housing in due course.
“The target is to make sure the houses are available to all Ghanaians”, Alhaji Dauda said.
In the past 15 months, significant progress has been achieved in the area of earthworks, infrastructure, drainage, roads and other areas.
These milestones have been achieved by integrating modern elements of technology and utilizing specific casting methods and Insulated Concrete Forms Technology (ICF).
Additional technologies will be factored in over the next phases, including hybrid energy solutions with an emphasis on solar power.
The project is being constructed by Brazilian construction Firm, Construtora OAS Ghana Ltd, with funding provided by the Emerging Markets Group within the Fixed Income Department at Credit Suisse in London.