The Minister for Works and Housing, Francis Asenso-Boakye, has commissioned the Legacy Court, a newly built housing project of the State Housing Company Limited in Accra.
Speaking at the event held yesterday, September, 5, 2023, the Minister recounted the discouraging beginning of State Housing, saying the story was one that has to be applauded by all.
Taking attendees through the rough beginning, he said State Housing was created as a state parastatal many years ago under the government of late Dr. Kwame Nkrumah to provide much affordable houses for Ghanaians, but went through several difficulties over the years to a point where it lacked developments, even as a developer.
“They are developers, but they were not able to even develop a new residential unit,” he bemoaned.
According to him, until the assumption of President Akuffo Addo, State Housing was nearly moribund to the point where it was not able to effectively operate as expected, until there was a change of management by President Akufo-Addo, led by Kwabena Ampofo Appiah, who was then working in the United State.
With his directives and support from the hardworking staff, together with management and board members, the Minister gladly expressed that the deteriorating story of State Housing has changed for the better.
The Member of Parliament further added that “State Housing Company (SHC) Limited is now back on its feet in full responsibility of providing affordable housing for the good people of Ghana just as it should.”
He revealed that in the history of State Housing, it was at one point privatized and made a limited liability company and not under public convention. This, he said, meant the company had to use their own funds for its developmental projects without any assistance from the state.
Even as a limited liability Company, State Housing is still state owned, as a result profitable work must still go on for the state to benefit, for the sustainability of the business.
As a Ministry, it falls in their responsibility to formulate policies and developing programs with the aim in providing quality and affordable housing for the Ghanaians populace.
This can go a long way in affecting the subsidy pricing of their units, as compared to the prevailing market price.
“A unit like these being sold or developed by a typical private developer will have a way higher pricing than this, which is very high above the average Ghanaian. “The Minister said.
For this reason, Francis Asenso-Boakye revealed that, the Ministry has come up with a new program that seeks to support private developers with some subsidy, to help cut down their high housings rate for the working Ghanaian, civil servants, public servants, traders, teachers, and bankers etc. to also have the opportunity to own their own homes.
The government, in its share is proving free incumbent lands and horizontal infrastructure, being it water, electricity, sewage, roads, drainage etc. which will constitute a larger part of the housing project and also invite the private sector developers to come in through for an effective contribution to create more affordable homes for Ghanaians.
These infrastructure and lands, he said constitute a big part in the housing construction cost, so government absorbing that cost and inviting the private sector to come will contribute the cost of construction for about forty percent.
The first project under the government revised affordable housing project is the Pokuase Project, which is supposed to have a very subsidised reduced rate for many Ghanaians to afford.
The private sector when involved will not only be part of the development, but also in the marketing and the sale of the units. The Minister said.
He then encouraged all Ghanaian workers to show interest in patronizing the units by visiting the offices of the five developers who are State Housing Company Limited, Devtraco, Rehoboth, Frank Pauls Ventures and Addoha Group Limited for all sales.
The Managing Director of State Housing Company Limited, Mr. Kwabena Ampofo Appiah in his address explained that the project is the seventh development that has been commissioned under the leadership of the Akuffo Addo government.
The rest he said are, Mallow Court, Club Court, Urban Premier Court and Seasons Court, all in the Greater Accra Region, Bumangama Estate in the Western North Region, the Sunyani Estate in the Bono Region.
Mr. Kwabena Ampofo added that other housing projects will be commissioned in Accra, Cape Coast, Takoradi, and Kumasi by end of the year.
He said Legacy Court has been incorporated with a lot of technologies especially with the constructed American Enzyme road, treated with a bio degradable enzyme that can last for up to twenty years, something that in first of its kind in the country.
He thanked the President, Nana Addo Dankwa Akufo-Addo, the Minister for Works and Housing, Francis Asenso-Boakye, the Board of Directors, Management team for all the dedication and contribution towards the growth of State Housing Company Limited over the past years.
