Headlines for Property Express News
The Government of Ghana nearing final stages of its efforts to resume work on the Saglemi Housing Project.
National Homeownership Fund (NHF) is advancing efforts to provide affordable housing in Ghana, with 129 unts.
Britain’s housing market recovered momentum in September
The Government of Ghana is nearing the final stages of its efforts to resume work on the Saglemi Housing Project, with two preferred bidders shortlisted for negotiations.
Deloitte Ghana, serving as the government’s transaction advisor, conducted an evaluation and due diligence process that started with interest from at least 10 firms.
Five of those firms submitted formal bids by the July 2024 deadline. After the negotiations, the Ministry of Works and Housing will select the firm offering the most favorable terms to complete the project.
Housing Minister Kojo Oppong Nkrumah has emphasized that the government remains focused and meticulous throughout the process.
The Saglemi Housing Project, originally launched with a $200 million contract to deliver 5,000 affordable housing units, saw only 1,506 units completed or at various stages by January 2017.
This was despite contractors already receiving $197 million. The government’s objective now is to revive and complete this crucial project.
During an August 2024 site visit, Works and Housing Minister Kojo Oppong Nkrumah praised the rapid progress and quality of the construction, which began in April 2024.
He highlighted the collaboration between the NHF, the Tema Development Corporation, and the Ministry of Works and Housing.
The NHF aims to reduce Ghana’s housing deficit by offering affordable mortgage options, with a call to extend these efforts to district-level housing projects.
Britain’s housing market recovered momentum in September, as the Bank of England’s first interest rate cut in more than three years and greater political certainty after July 4’s election boosted activity, property website Rightmove said on Monday.
Rightmove said average asking prices for homes increased by 0.8% after a sharp 1.5% drop in August.
September’s rise was double the average for the time of year in the series and the biggest for the month since 2016.
Source : Joycelyn Marigold -Property Express News
