Government has finally found a new developer to complete the 1,506 housing units of the Saglemi Housing Project that has been on for over a decade.
Quarm-LMI Consortium has been selected as the preferred investor, following the conclusion of rigorous negotiations and the receipt of a report on negotiations from a government team comprising representatives of the Ministry of Works and Housing, Office of the Attorney General and Ministry of Justice, Ministry of Finance, and Deloitte with technical evaluation support from the Ghana Institute of Surveyors
A statement issued by the Ministry of Works and Housing said “Bids from, Quarm-LMI Consortium and Broll Ghana had been shortlisted from an initial five (5) for negotiations.”
According to the statement, Broll Ghana Limited, is a joint venture between Social Security and National Insurance Trust (SSNIT), SIC Insurance PLC, and Broll Property Group (BPG), South Africa’s leading multi-disciplinary property services company.
It added that Quarm-LMI Holdings is a consortium consisting of LMI, with interests in industrial park development and real estate, And QUARM with expertise in logistics, Utilities and Finance.
The statement explained that the developer will now be formally procured to complete the 1,506 Saglemi housing units, which will then be sold to the public, with a focus on salaried employees and workers’ unions.
“For the avoidance of doubt the Ministry reiterates that the Saglemi project has not been sold to the private developer. The developer has been selected to finance and complete the project,” the statement said.
It added that, “Both the government and the developer will recover their investments when the project is completed.”
The Ministry, according to the statement, will provide further updates as the project progresses
This development marks a significant milestone in the project’s history, which has been plagued by controversy and delays since its inception by the government of the National Democratic Congress (NDC) in 2012.
Initially envisioned to deliver 5,000 affordable housing units, the project was scaled down to 1,506 units before being abandoned due to legal issues.
The partially built structures suffered from vandalism and theft, adding to the project’s woes.
Commenting on the development, the Minister for Works and Housing, Mr. Kojo Oppong Nkrumah, expressed confidence in the project’s revival.
“This marks a major step forward in reviving the Saglemi Housing Project. We are confident that the completion of the project will serve the people and help address Ghana’s housing deficit”.
