The communications director of the National Disaster Management and a member of the New Patriotic Party (NPP), George Ayesi, has justified why government has priced the Pokuase housing project in dollars.
According to him, the prices instills confidence in investors due to the stability of the currency, which contrasts with the uncertainties surrounding the local cedi.
President Akufo-Addo has launched a visionary project aimed at addressing the country’s significant housing deficit of approximately 2 million units.
The project entails the construction of 8,000 housing units to meet this pressing need.
To ensure transparency and attract investment, the government has disclosed the pricing of the houses in US dollars.
The pricing is as follows:
Studio apartment: $13,800
One bedroom: $20,700
Two bedroom: $34,500
Three bedroom: $42,550
The government believes that pricing the houses in dollars will attract more investors, fostering collaboration and financial support for this ambitious project, as the dollar is a globally accepted and stable currency.
Despite the government’s enthusiasm for the Pokuase housing project, criticism has arisen from the public regarding its decision not to prioritize the completion of the Saglemi Housing project, which was initiated during the previous John Mahama administration.
The Pokuase project will be carried out in two phases. The first phase will see the construction of 4,000 housing units, with completion expected within 18 months. The second phase, consisting of the remaining 4,000 units, is also projected to be completed within the same timeframe.
For the successful execution of the project, the government has partnered with five reputable Real Estate developers, namely Rehoboth Properties, State Housing Company Limited, Devtraco Group Limited, FrankPauls Ventures Company Limited, and Douja Promotion Addoha Groupe Limited.
These collaborative efforts will contribute to the realization of the 8,000 housing units and provide much-needed shelter for the people of Ghana.