Private estate developer to build 10,000 affordable houses, Saturday, March 31, 2012, Back page

Agu Resources Ghana Limited, a local estate development firm, and Top International Construction, a Chinese construction company, have entered into an agreement to build 10,000 affordable houses in the country.

The first phase of the project, which is a public-private partnership facilitated by the Ministry of Water Resources, Works and Housing, will begin on a 74-acre plot of land at Nsakina and Odumase in the Ga West District of the Greater Accra Region.

Known as ‘Agu Palm Condos’, the project, which will see the construction of 2,650 two- and three-bedroom houses under the first phase, is expected to be completed in two years.

The remaining 7,350 houses, targeted at public and civil servants, will be spread to other parts of the country.

Agu Resources is assuming the financial, technical and operational risk, while the government will make land available and provide other facilitative services.

The Chief Executive Officer of Agu Resources, Mr Ben K. Agumeh, signed the document on behalf of his company, while the Chief Executive of Top International, Mr Duan De Zhi, endorsed the agreement for his company.

Speaking at the ceremony, Mr Agumeh said all the preliminary processes had been completed and that Top International would be working with local contractors in the country.

Attempts by the government to provide 30,000 houses for the security services and 200,000 for the public through the STX Housing Project has hit a snag as a result of boardroom wrangling.

Mr Agumeh noted that the company was aware of the efforts by successive governments to facilitate the provision of affordable housing for Ghanaians, especially low income earners, and pledged to ensure that the project yielded fruits.

The Director of Housing at the Ministry of Water Resources, Works and Housing, Alhaji H. Yakubu, said the venture would reduce Ghana’s housing deficit, which was on the increase every day.

He was of the view that the deficit was as a result of several factors, including land scarcity and the high cost of building materials.

While commending Agu Resources for its persistence, he also urged it to speed up the needed processes to ensure that the project met its deadline.

Mr Zhi, for his part, said the project management would be very efficient and committed to meeting the deadline.

The chiefs of the two communities also pledged their commitment to ensure that the project ran smoothly.