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The State Housing Corporation and the Tema Development Corporation are finalizing agreements with the government to complete the Affordable Housing Projects started by the President Kufour led NPP Government at Kpone and Borteyman. The Minister for Water Resources Works and Housing, Enoch Teye Mensah disclosed this at the launch of the 60th Anniversary celebration of the Tema Development Corporation, TDC at Tema, Ghana. He said baring any challenges a number of the housing units which are at various levels of completion should be completed by the end of the year to lessen the housing deficit in the country. The Ministry of Water Resources, Works and Housing has been assessing the controversial Affordable Housing project and has realized that the projects have been awarded to 388 individuals who have abandoned the projects for various reasons. “It was difficult trying to get some of the contractors to complete the project, hence the decision to allow the two state real estate Corporations to take over the completion of the houses” he said. The project has been dogged with a lot of "politrick and contractual issues" and has been abandoned over the three and half years that the NDC government assumes the reigns of the country. Whiles the government attempts to address the housing deficit millions of citizens continue to live in disheartening structures.
 

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Surprisingly optimistic!
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OREL Ghana to provide affordable housing

Offoyeh Real Estate Limited (OREL Ghana), a major player in the Ghanaian real estate market, has moved to mitigate the housing deficit in the country by providing affordable housing to the middle class.

The company in statement signed by its Managing Director, Richard Mantho, said starting from US$30,000 individuals could own houses tailored to meet the pockets of in employees in urban areas under "flexible payment terms.”

The statement said the initiative, “is as a result of the emerging trend of young business professionals and young employees finding accommodation a big problem in the business centre in Accra, the reason being that all multinationals companies and local companies are located in this hub and the competition of finding an affordable house is very high in demand.”

It added that, “due to the influx of high earn luxurious accommodation in the urban area which young individuals find too expensive. OREL Ghana is here to change this structure of high accommodation in the urban areas and make it more attractive for young business professionals and young employees.”

It said the accommodation will be designed in the style of one bedroom apartment and two bedrooms apartment to cater for singles and young families and “payment terms will be on a 20% deposit and other payments spread within a number of years which will be administered by a mortgage company and a financial institution.”

OREL Ghana has therefore acquired acres of land at Achimota, Teasano and other prime locations in the capital for the housing project which will range from US$30,000 to US$70,000 - furnished and unfurnished apartments.

Some clients of OREL Ghana include La Beach Towers, Sloane Houses, Osborne Towers (Lagos), The Octagon, Blackwell and Koshy Kourt.
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=263582

Good move- it's sorely need, particularly the fact it is an apartment.
 
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