Ministers of Works and Housing and Finance Tour Housing Projects in Tema

The Hon. Ministers of Works and Housing, Samuel Atta Akyea and Finance, Ken Ofori Atta, have toured the Affordable Housing project sites at Tema, Communities 25 and 26 to assess the status of the projects.

The housing projects, which are being undertaken by the TDC Development Company Limited and Adom City Estates, are under the National Mortgage Scheme (NMS) and the affordable housing Real Estate Investments Trusts (REIT’s) rent-to-own schemes, seek to reduce the country’s housing deficit.

Addressing the media, Hon. Samuel Atta Akyea said, affordable housing is a “divine undertaking” and described housing issues as very sensitive because people need homes to rest, so that they can go to work and contribute to productivity.

He said, although funding of housing projects is a major problem since there are equally important projects competing within the same funding space, Government is committed to increase the housing stock and bridge the national housing deficit.

On his part, Hon. Ken Ofori Atta, said the rent-to-own scheme is aimed at providing more decent homes for Ghanaians with the starting price of the houses fixed at GH₵140,000.00 for a standard two bedroom flat and GH₵90,000.00 for one bedroom flat respectively.

The President of the Ghana Real Estate Developers Association, disclosed that, the Association would sign an agreement with the Government to deliver 20,000 affordable housing units every year for the next 20 years.

Leave a Comment

Your email address will not be published. Required fields are marked *