Mr Kojo Oppong Nkrumah, the Minister of Works and Housing, says ongoing state housing projects in Amrahia are 75 percent done.
He said most of the structural and infrastructural work was done, with the project moving towards finishing touches like interior fittings, landscaping, and final inspections.
The Minister was speaking at an inspection of housing projects in Amrahia and Adenta in the Greater Accra Region.
The projects inspected were the Surge Homes project in Amrahia, SHC Gardens and the Legacy Courts, all in Adenta.
The Ministry, he said, was working with private developers to reduce the cost of housing units by up to 30 percent through synergies with other sectors, such as roads, energy, and water.
Mr Nkrumah said incentives were being offered to master developers to further reduce costs and make housing more affordable, while also providing mortgage financing options.
He said currently, the Ministry had concluded engagements with the Association of Bankers, and was moving forward to engage the Central Bank, the Chief Justice and the Finance Ministry on what they could do to make it easier for the banks to underwrite more mortgages.
“The pensions funds as well have expressed their interest so that the combination of those interventions on the demand side also now helps the bank to get long-term cheaper funding to give more mortgages to people.
“So, in this case, people who want to buy can also spread the cost over 15 to 20, or even 25 years and then purchase, we are pleased with what we are seeing now on the project. We want you to succeed so that we can roll it out fully,” he added.
The Minister said the Ministry would finalise the master planned community framework and incentives package with the Finance Ministry for approval.
Mr Nkrumah said the Ministry was committed to resuming works on all stalled projects, adding that they would do all things possible to execute them.
Members of the Ghana Journalists Association would have discounts, Mr Nkrumah said, and admonished members to apply when the facilities were ready for use.
Dr Kwabena Ampofo Appiah, Managing Director, SHC, said the Amrahia projects comprised 200 homes, recreational areas, and shops, and on a 40-acre land that the SHC acquired from some families.
After the completion of the Amrahia project, the Managing Director said there would be 200 units, comprising two bedrooms, three bedrooms and four bedrooms with some variations.
He said they were hoping that by the end of the year, they would be able to have completed works for that project as well, adding that the Ministry of Roads and Highways had also supported them by constructing the roads for the project.
Dr Appiah noted that once work was done, they would move to another project site within the Greater Accra Region.
He said across the country, SHC was developing similar projects in Cape Coast, Takoradi, Sefwi Wiawso, in the Central Region, Tamale, Bolgatanga and Ho.
The SHC, he said, was optimistic to complete similar estate projects in Koforidua in the Eastern Region as well as projects inherited from former President John Agyekum Kufuor.
