{"id":235176,"date":"2024-10-19T13:14:47","date_gmt":"2024-10-19T13:14:47","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/19\/govt-selects-quarm-lmi-to-complete-seglemi-housing-project\/"},"modified":"2024-10-19T13:14:47","modified_gmt":"2024-10-19T13:14:47","slug":"govt-selects-quarm-lmi-to-complete-seglemi-housing-project","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/19\/govt-selects-quarm-lmi-to-complete-seglemi-housing-project\/","title":{"rendered":"Govt selects Quarm-LMI to complete Seglemi Housing Project"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The government has selected Quarm-LMI as the preferred developer to complete the long-stalled Saglemi Housing Project.<\/p>\n<p>According to a press release from the Ministry of Works and Housing dated Friday, October 18, 2024, this decision follows an extensive negotiation process led by a government team that included representatives from the Ministry of Finance, the Office of the Attorney General and the Ministry of Justice, and Deloitte, with technical evaluation support from the Ghana Institute of Surveyors.<\/p>\n<p>It said the redevelopment will be structured through a Special Purpose Vehicle (SPV), with the government\u2019s current investment in the project being treated as equity.<\/p>\n<p>This ensures that the government and the developer will recover their investments once the project is completed.<\/p>\n<p>\u201cAs part of the redevelopment, the government and the developer will both recover their investments when the project is completed,\u201d the statement added.<\/p>\n<p>Originally designed to deliver 5,000 affordable housing units, the Saglemi Housing Project received approximately $200 million in government financing.<\/p>\n<p>However, by the time the project was halted, only 1,506 units had been partially completed, with the development deemed uninhabitable due to the absence of essential infrastructure such as water, electricity, and sanitation.<\/p>\n<p>A subsequent valuation conducted by the Ghana Institute of Surveyors estimated that an additional $100 million would be required to complete the 1,506 unfinished units; financing which the government could not provide.<\/p>\n<p>The completion of the Saglemi Housing Project is anticipated to significantly impact Ghana\u2019s housing landscape, helping reduce the country\u2019s housing deficit, which stands at 1.8 million.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The government has selected Quarm-LMI as the preferred developer to complete the long-stalled Saglemi Housing Project. According to a press release from the Ministry of Works and Housing dated Friday, October 18, 2024, this decision follows an extensive negotiation process led by a government team that included representatives from the Ministry of Finance, the Office [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":161249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-235176","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt selects Quarm-LMI to complete Seglemi Housing Project - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/19\/govt-selects-quarm-lmi-to-complete-seglemi-housing-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt selects Quarm-LMI to complete Seglemi Housing Project - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The government has selected Quarm-LMI as the preferred developer to complete the long-stalled Saglemi Housing Project. 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