Property Express News 15 08 25

The State Housing Company (SHC) has inaugurated a nine-unit apartment block at Adentan in the Greater Accra Region as part of efforts to provide affordable housing for the public.
The block, known as the Seasons Court Annex, comprises three-bedroom and two-bedroom apartment units and adds to numerous housing projects by the SHC across the country. Each unit is valued at around GH¢1 million.

Speaking at the inauguration, SHC Managing Director John S. Bawah described the project as a testament to the government’s commitment to completing all existing housing projects to help reduce the housing deficit.

He revealed that the project commenced 12 years ago but encountered delays before the current administration decided to complete it, ensuring returns on investments already made.
“All expenditure made with taxpayers' money should bring back value to the taxpayers. If we abandon projects along the way, we are just losing money that necessarily doesn’t belong to State Housing, but to the people of Ghana,” he said.

Mr. Bawah emphasized that, in line with President John Mahama’s vision, the SHC aims to prioritise completing abandoned projects across the country.

SHC is also looking to embark on larger-scale housing projects to significantly reduce the national housing deficit and provide decent accommodation for more Ghanaians.

Mr. Bawah disclosed that the company is working on reactivating the Pokuase Affordable Housing project, initially started by the previous administration. The project plans to deliver 8,000 housing units through a public-private partnership, with the State Housing component expected to provide between 1,600 and 3,200 units.

“A contractor to assist with pre-financing has already been secured, and we are finalizing technical aspects with the Ministry of Works and Housing to reactivate the project,” he explained. Ralph Roland, Board Chairman of the SHC, said the inauguration reflects the government’s commitment to using innovative approaches to address the national housing deficit.

“It also aligns with the Government of Ghana’s broader reset agenda for the well-being of the people of the country,” he added.

A new book, Building for the Future: Positioning Ghana’s Construction Industry for Sustainable Growth, co-edited by Emeritus Professor George Ofori and Dr. Joseph K. Ofori-Kuragu, calls for urgent reforms to address systemic failures in Ghana’s construction sector. Drawing on insights from academics, practitioners, and government officials, the book highlights chronic issues such as political interference in contracts, delayed contractor payments, corruption, limited financing, and skill shortages, which contribute to stalled projects, building collapses, and the country’s growing housing deficit.

Consumer advocate Adomako Kusi Appiah praised its solutions-focused approach, recommending prioritizing local contractors through training, improved access to capital, and greater participation in public projects. The book also advocates for green technology, streamlined regulations, and stronger data governance, emphasizing tripartite collaboration between government, industry, and academia to drive sustainable practices and ethical standards.

Published by University Press, Kumasi, the book will officially launch on July 29, 2025, at the British Council Auditorium in Accra, attracting policymakers, engineers, and developers seeking to align Ghana’s construction growth with transparency and resilience goals ahead of the 2028 elections.

China is grappling with a worsening housing crisis, marked by a record surplus of unsold real estate. As of June, completed but unsold residential space surged 6.5% to 408 million square meters, with another 441 million square meters still under construction. 

In response, Beijing is reportedly considering ending a 15-year restriction to allow major state-owned enterprises (SOEs) to re-enter the property sector. These SOEs, such as China Resources and China Mobile, wield over 90 trillion yuan in assets, far outmatching the financial capabilities of local governments. 

However, they are unlikely to be exposed to significant property risk due to their strategic importance. Despite the central bank setting up a 300 billion yuan facility to help alleviate the crisis, uptake has been minimal—only 6% has been used—implying most of the inventory is financially unappealing.

 Reintegrating powerful SOEs signals Beijing's recognition that stronger intervention is needed, but it may still fall short of resolving the housing glut.