The Appolonia city development will build 100 homes through a partnership with the country’s leading mortgage provider, Ghana Home Loans.
The project will commence in the third quarter of 2017 and is aimed at helping address Ghana’s housing deficit.
Speaking at the launch of the project, the Chief Executive Officer of Appolonia City, Bright Owusu Amofah, said “Ghanaians deserve decent accommodation with well planned infrastructures. Poor infrastructure planning has been one of the factors contributing to the congestion in Accra.”
“However, Appolonia will be setting the Agenda for proper world class infrastructure development,” he said.
The partnership brings together Ghana Home Loans and Rendeavour, the developer of Appolonia City.
Chief Executive Officer of Ghana Home Loans, Dominic Adu, said “Our partnership is to bring a high volume of quality affordable homes to the mortgage market.”
With Ghana’s housing deficit standing at 1.7 million but expected to reach 2.4 million by 2026, the US ambassador to Ghana, Robert P. Jackson, called on more participation from various stakeholders to address the growing deficit.
Deputy Minister for Works and Housing, Freda Prempeh, urged the developers to employ local products in the construction so as to drive down the cost of building and ultimately the cost of houses.
All 100 homes under the Appolonia city project will be due for completion in 18 months. The launch was held at the US embassy in Accra.