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Pokuase affordable housing project will deliver value for money, says Asenso-Boakye

Akufo-Addo on Tuesday cut sod for the commencement of the 8,000 housing units under the government’s affordable housing initiative dubbed: “My Home My Peace”

The government’s new affordable housing project in Pokuase has been carefully thought through to give value for money, the Minister for Works and Housing, Francis Asenso-Boakye, has said.

President Akufo-Addo on Tuesday cut sod for the commencement of the 8,000 housing units under the government’s affordable housing initiative dubbed: “My Home My Peace.”

The project, which is on 203 acres of land will come with provision for safe and eco-friendly spaces for children to play and grow, recreational facilities, such as football fields, tennis courts, swimming pools, as well as commercial spaces.

This is different

“This is different because, before the Ministry of Finance committed to financing this, they made sure that thorough feasibility was done, which is a requirement for this private public partnership arrangement,” the minister said on the Asaase Breakfast Show on Wednesday (2 August).

“Even this year alone they have budgeted a good amount for this project,” Asenso-Boakye said.

“Credible sector players like Devtraco, State Housing Company are partaking in the project. This Pokuase project is right after the interchange – a strategic location. So, there is no way that they will not want to invest there to recoup their investment,” he told show host Benjamin Offei-Addo.

“So, obviously, when you look at the parameters, this is far better, well planned and we are not doing it to denigrate the past projects. Of course, we have had the benefit of hindsight to look at what they did to improve upon it.”

Listen to Francis Asenso-Boakye in the attached audio clip below: 

Revised national affordable housing programme

The government of Ghana through the Ministry of Works and Housing initiated a revised National Affordable Housing Programme dubbed: ‘My Home My Peace’, which adopts a programmatic approach to tackle the affordability gap and improve access to housing for Ghanaians.

In this revised version, Government will subsidize the housing units with land and infrastructure, which is to absorb a critical component of the construction cost. The private sector will complement these efforts by raising funds to build the apartments on a cost-recovery basis.

The initial project under this revised programme entails the construction of 8,000 housing units on a 203-acre land in Pokuase/Amasaman in the Greater Accra Region, and 6,000 housing units on a 200-acre land in Dedesua in the Ashanti Region.

Thorough feasibility studies, including assessments of environmental, social, property, and traffic impacts, as well as housing stress and financial analysis, have been conducted.

Drawing from past experience, this revised strategy acknowledges the financial constraints faced by many citizens and strives to make housing more accessible for all, ensuring the success of the programme.

 

Reporting by Fred Dzakpata in Accra

 

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