play videoAkufo-Addo was joined by British High Commissioner and US Ambassador at the launch of the project
President Nana Akufo-Addo has assured Ghanaians that the struggles they go through in the bid to find decent and comfortable accommodation would soon be a thing of the past.
The president is optimistic that the affordable housing project by Appolonia City and Ghana Home Loans will bring relief to Ghanaians.
According to him, this forms part of government’s
Read full articleagenda to provide affordable housing units across the country with the aim of reducing the housing deficit which is estimated to be around 1.7 million units.
Speaking at the ground-breaking ceremony at Appolonia City on Tuesday November 14, 2017, President Akufo-Addo was hopeful that the construction of the facility will mark a giant step towards easing the housing burden by providing affordable houses for the ordinary Ghanaian.
He stressed his administration’s commitment to ensuring the private sector is ably supported to encourage more of such initiatives.
Disclosing the rationale for his visit to the site, the president emphasised “I am here this morning because the project is in line with government’s vision of using an appropriate mix of public policy and public-private investment to deliver quality, affordable social housing, and private housing solutions that meet the needs and financial capacity of the ordinary Ghanaian”
“Government recognises the dreams of every Ghanaian to own a home and at least to have a decent rental accommodation. With a housing deficit of over 1.7 million units, the Appolonia City project is one of several initiatives that will be introduced along the housing value chain to attain an efficient, effective and sustainable housing sector” he asserted
Akufo-Addo expressed excitement at the prospect of job creation and skills transfer that the 2000 housing unit construction offers to the city of Appolonia noting “with the construction of the first hundred homes beginning this month, I’m happy to note that the Apollonia community is a shareholder within Appolonia city. Constructors of the project are to provide employment and skills training to members of the Apollonia city. It is a laudable initiative, a model I want to encourage others to emulate”.
Addressing the gathering, Founder and CEO of Rendeavour, the holding company of Apolonia City, Stephen Jennings commended the government for initiatives “such as Affordable Housing Project and the Ghana Land, Services and Citizenship Programme. The government’s pace is rapid and commitment to its citizens resolute”.
He also lauded the government adding “in our meetings with all areas of government, we observe an impressive readiness to encourage private sector investment. Ghana today can be held as an example to other countries in Africa”
The Appolonia City enclave is being developed for residential properties, retail and commercial centres such as schools, healthcare, and other social infrastructure. It is expected to contain about 88,000 residents upon completion.
The project is a joint venture with Ghana Home Loans to developing the 2000 affordable homes for ordinary Ghanaians with price starting from $45, 000. The first 100 homes are expected to be completed within the next 18 months.
