The Minister for Works and Housing, Hon. Francis Asenso-Boakye (MP) has expressed satisfaction at the quality of work undertaken by Ghanaian contractors on the 201 housing units made up of 2- and 3-bedrooms, townhouses and flats under the Phase 2 of the National Homeownership Fund (NHF) project.
The 201 residential apartments under the phase 2, having seen the phase 1 (204 housing units) commissioned by the President HE Nana Addo Dankwa Akufo-Addo in 2020, is a joint initiative between the Ministry of Works and Housing and the Ministry of Finance.
The project, constructed by the TDC Development Company Limited is a gated estate with provision of infrastructure such as electricity, water, tarred roads, covered drains as well as other essential facilities (schools, hospitals, recreational centres).
The 3-phased housing project is aimed at ensuring that low-to-middle income Ghanaians are able to afford housing units under the National Mortgage Scheme (NMS) being operated by the National Homeownership Fund in partnership with consortium of financial institutions.
Conducting the Minister around the apartments, the Chief Executive Officer (CEO) of the NHF, Mr Delali Zumani disclosed that the Phase 2 of the project is scheduled to be completed and inaugurated next month (October) while construction of the Phase 3, expected to also consist of another 230 housing units (mix of 2- and 3-bedroom units and apartment blocks) is to commence soon.
Mr Zumani stated that the National Mortgage Scheme is currently working with five (5) financial institutions namely GCB Bank, Stanbic Bank, Republic Bank, Cal Bank and Access Bank to operate a blended financing concept that provide mortgage rates lower than market rates to prospective homeowners.
In his remarks, the sector Minister said the completion of the first and second phase of the project is another testament of the success story of government’s commitment to providing affordable housing to Ghanaians.
Acknowledging the daunting challenge in financing access to decent housing units in the country, Asenso-Boakye urged Ghanaians to leverage on the National Mortgage Scheme as ideal way of owning homes in the country.