The Public Procurement Authority (PPA) has granted approval for the appointment of a transaction advisor to facilitate the sale of the Saglemi Housing project to a private sector entity.

This move came after a directive from Cabinet to the Minister of Works and Housing to explore the possibility of disposing of the project.

The objective is to sell the project to a private sector entity at its current value, with the responsibility of completing the housing units and selling them to the public without any further cost to the government.

To oversee and manage all the necessary engagements for the project's completion, the Ministry of Works and Housing has formed a technical working group comprising representatives from various state and independent professional institutions.

The Saglemi Housing project, originally planned to provide mortgage arrangements for 5,000 housing units to be sold to employees through the Ghana Home Loans Company, faced variations during execution, resulting in only 1,506 housing units being completed.

President Nana Addo Dankwa Akufo-Addo emphasized the importance of transparency and ensuring value for money in executing the Cabinet's directive.

Valuable lessons learned from the Saglemi project have influenced the approach and execution of the new housing initiative.

Acknowledging the delays and setbacks in the Saglemi Project, President Akufo-Addo revealed that issues regarding its scope of work and expenditure are under investigation by the criminal investigations division of the Ghana Police Service.

To prevent further deterioration, the Ministry of Works and Housing has been actively engaging with Cabinet, the Minister of Finance, and the Office of the Attorney General.

An additional $56 million will be required for completing offsite infrastructure works such as water, electricity, and storm drains to mitigate flooding. Moreover, $68 million is needed for finalizing the buildings and essential on-site infrastructure, including a waste holding bay, sewage treatment plant, and the development of socio-economic and civic infrastructure like a basic school, a clinic, and shops.

The sale of the Saglemi Housing project to a private developer is expected to enable its completion and successful integration into the Revised National Affordable Housing Programme.