The Ghanaian government has finally selected Quarm-LMI to complete the long-stalled Saglemi Housing Project. This decision comes after an extensive negotiation process involving various government agencies, the Ministry of Finance, and Deloitte, with technical support from the Ghana Institute of Surveyors.

The project, initially designed to provide 5,000 affordable housing units, had been halted with only 1,506 units partially completed. The development was deemed uninhabitable due to the lack of essential infrastructure like water, electricity, and sanitation. To make matters worse, an additional $100 million was needed to complete the unfinished units, which the government couldn’t provide.

Thankfully, Quarm-LMI’s redevelopment plan will be structured through a Special Purpose Vehicle (SPV), treating the government’s current investment as equity. This means both the government and the developer will recover their investments once the project is completed.

Ghana’s housing deficit stands at 1.8 million, and completing the Saglemi Housing Project will significantly impact the country’s housing landscape. The Ministry of Works and Housing has been working to address this issue, with plans to introduce new policies to reduce the cost of owning decent accommodation by 40%.

With Quarm-LMI on board, the Saglemi Housing Project is finally back on track, bringing hope to many Ghanaians in need of affordable housing.