Mr. Francis Asenso-Boakye, the Minister of Works and Housing averred that the government is putting in efforts to make the housing industry attract to private investors. This it is doing by creating an enabling environment.
Speaking during the commissioning of the first phase of the Sucasa O’Grantson No.1 Community at East Legon Hills, Mr. Asenso-Boakye, who is also the Member of Parliament (MP) for the Bantama Constituency in the Ashanti Region, said the private sector had a major role to play in bridging Ghana’s housing deficit.
“The commissioning of this project is a confirmation that the desired environment is being created by the government to attract private sector investments into the housing sector. The government recognises the importance of investing in this industry, as it holds the key to the sustainable development of our dear country.
“Indeed, the industry contributes to our country’s socio-economic development by providing significant employment opportunities for both skilled and unskilled labour.”Mr. Asenso-Boakye
These comments were passed while the Minister was also cutting sod for the commencement of phases two and three of the project.
“I am particularly happy to learn that the company endeavors to transact business in the Ghana cedi, which has enormous benefits for our local economy and also ensures compliance with regulations of the Bank of Ghana.”Mr. Asenso-Boakye
Mr Asenso-Boakye used the opportunity to enumerate some of the initiatives the NPP government had undertaken to transform the housing industry.
“My Ministry is presently focused, among other things, on the review and enactment of legislation and addressing the institutional gaps to create the appropriate platform for best practices within the industry.
“For this reason, the Ministry of Works and Housing has initiated the process to establish the Ghana Housing Authority, which will have the mandate to regulate, plan, and manage housing developments in Ghana, in collaboration with private sector developers.”Mr. Asenso-Boakye
Also at the ceremony, Mr. Michael O’Grantson-Agyapong, the Chief Executive Officer of SuCasa, iterated that the main focus of the company is to tackle the housing infrastructure deficit through the provision of affordable housing units for Ghanaians.
“As a business, we are consciously keeping the prices of our houses affordable because we believe affordable housing is a must-have for every Ghanaian.
“The grand vision of SuCasa is to build 2,000 houses by the end of 2023. We expect to complete phase two of the O’Grantson Community Project in March, commission it in April, and complete phase three by the end of the year.”O’Grantson-Agyapong
Nii Laryea Afotey- Agbo, Samuel Amegayibor, Senior Management and Staff of SuCasa, were among other dignitaries, present at the ceremony.
SuCasa Properties is a leading real estate company in Ghana, that has commissioned the first phase of its O’Grantson Communities located at East Legon Hills in Accra. This is part of the company’s efforts to reduce Ghana’s housing deficit.
Christened No. 1 O’Grantson Communities, the luxury housing settlement is the first of four similar projects that are being constructed by SuCasa and its partners. The No. 1 O’Grantson Communities has 17 modern townhouses comprising three four-bedroom houses and 14 three-bedroom houses. A three-bedroom house at the project retails at GHS560,000 while a four-bedroom house goes for GHS840,000.
SuCasa’s Chief Executive Officer, Michael O’Grantson-Agyapong, while at the commissioning ceremony of the first phase described the No. 1 O’Grantson Communities as a symbol of affordable luxury at its price point.
Mr O’Grantson-Agyapong further disclosed that a total of four similar communities are expected to be completed by his outfit this year as part of efforts to reduce Ghana’s housing deficit.
Additionally, the CEO indicated that the second phase of the project christened No. 2 O’Grantson Communities (55 units) was on schedule to be commissioned in April while the No. 3 O’Grantson Communities (816 units including malls and cinemas) and the No. 4 O’Grantson Communities located at Ayi Mensah would be completed later in the year.
“We have four of the O’Grantson Communities but there are going to be more of them to follow and most of them are going to be much bigger than this.
“A lot of people when they hear the price points expect to see something sub-standard but you come here and you will see what we have. It’s luxury and affordable at the same time and its all quoted in cedis,” he said in an interview.”O’Grantson-Agyapong
In an address, the Executive Secretary of the Ghana Real Estate Developers Association (GREDA), Samuel Amegayibor, commended SuCasa for contributing significantly to the national housing stock and completing the project amid the ongoing national economic challenges.
Mr. Amegayibor further commended the government for passing laws to boost the real estate sector by passing laws such as the Land Act, the Real Estate Agency Act and the revised Anti-Money-laundering act.
However, Mr Amegayibor urged the Minister of Works and Housing, Francis Asenso-Boakye to work towards the passage of the Condominium Bill and the establishment of the National Housing Authority to regulate the practice of real estate developers. The presence of a single regulator would root out charlatans operating in the sector, he added.
The Minister of Works and Housing, Francis Asenso-Boakye said the launch of the project was confirmation that “the desired environment is being created by Government to attract private sector investments into the housing sector”.
Mr. Asenso-Boakye stated that, in order to close the existing housing deficit of 1.8 million housing units and deliver efficient public infrastructure and services to the good people of Ghana, it should be the policy of the government to adopt Public-Private Partnerships (PPPs) as a means of leveraging private sector resources, experiences and expertise to achieve its desired objectives.
“Government recognizes the importance of investing in this industry, as it holds the key to the sustainable development of our dear country. Indeed, the industry contributes to our country’s socio-economic development by providing significant employment opportunities for both skilled and non-skilled workers.”Mr. Asenso-Boakye
The Works and Housing Minister on this grounds urged all private-sector developers to study the SuCasa model which takes into consideration a comprehensive planning concept that provides for a self-sustainable community that provides relevant social amenities, including a police post, healthcare facilities, shopping and recreational centres, amongst others.
“I am particularly happy to learn that the company endeavors to transact business also in the Ghana Cedi, which has enormous benefits for our local economy and also ensures compliance with regulations of the Bank of Ghana”.