Samuel Amegayibor, the Executive Secretary of the Ghana Real Estate Developers Association (GREDA) has intimidated it’s a good call for private developers to take over the Saglemi Housing project.
The Executive Secretary commented on the fact that private sector taking charge of the Saglemi project will be of a good benefit.
He stated this after government made its intention clear to sell the 1,500 housing units to private developers and sectors due to its inability to fund the project to completion and the lack of funds to invest more resources in fixing it for usage.
According to the Minister for Works and Housing, Francis Asenso Boakye, he revealed at a press session in Accra that, the government is exhausted and handicapped and therefore will not be able to make further commitments to the Saglemi project as its concentration is now on the severe rising economic crises.
On this basis, “we’re allowing for a private sector developer to take up the initiative to build and sell the housing units”, he said.
SORT OUT ALL LEGAL ISSUES
The Executive Secretary of GREDA, Samuel Amegayibor explained that, the project has been entangled with legal issues, hence anyone willing to invest in it or take over the project must be clear on the terms with the government on the legal aspect surrounding the project before taking over totally.
“This [announcement] has clearly shown the intentions of the government to do something with that project. They have committed a lot of funds to it and they don’t want to incur any other cost again and want to dispose of it by selling it to a private investor, I think it is a good call. At least it would bring us to a point for us to transform it into a usable project.”
Samuel Amegayibor
He urged his members and private developers who express interest in the Saglemi Housing project to sort out all legal issues relating to the project before taking charge to avoid future problems especially in relation to documentation and evidence of ownership.
“The most important thing is the legal concern, you have to look at the contractual agreement that existed and how the project was supposed to be executed; who the parties involved are because the current government has taken some past ministers to court on this matter. So you need to really consult on the legal position.”
Mr Amegayibor
Mr Amegayibor, further explained that, “this calls for a whole assessment, apart from the project itself going to be sold, one has to find out the assessment that was made for the project to be cited at that place. This will as well give the developer the confidence in investing much into the housing project since he or she has a reliable record of information and ownership interest about the project”.
The GREDA Executive Secretary however advised government to sell the facility by blocks or flats to individuals interested in purchasing it because it will be difficult for a single individual developer to take over the entire Saglemi Housing project.
