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Govt selects Quarm-LMI to complete Seglemi Housing Project

The government has appointed Quarm-LMI as the preferred developer to revive and complete the stalled Saglemi Housing Project. This decision comes after a thorough negotiation process involving the Ministry of Finance, the Office of the Attorney General, the Ministry of Justice, Deloitte, and technical support from the Ghana Institute of Surveyors.

The redevelopment will be executed through a Special Purpose Vehicle (SPV), with the government’s existing investment in the project being considered as equity. This arrangement ensures that both the government and the developer will recover their investments once the project is finalized.

Initially, the Saglemi Housing Project was intended to provide 5,000 affordable housing units, funded with approximately $200 million from the government. However, construction was halted with only 1,506 units partially completed, lacking necessary infrastructure like water, electricity, and sanitation, making them uninhabitable. A valuation estimated that an additional $100 million is needed to complete the unfinished units, funding the government has been unable to secure.

The completion of this project is expected to alleviate Ghana’s housing deficit, currently at 1.8 million, significantly enhancing the country’s housing sector.

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