The Minister for Water Resources, Works and Housing, Hon. Albert Abongo, has disclosed in an exclusive interview on Peace Fm�s �Kokrokoo� that the Ministry has agreed and penned down a deal with a South Korean company to put up 200,000 housing units in Ghana over a 5-year period at a cost of about 10 billion dollars.
According to the sector Minister, the 200,000 housing units will be constructed in all the 10 regions specifically in the Regional and some District capitals across the country.
�The construction which is set to commence in April 2010, will see a 40,000 housing unit being built every year at an estimated cost of about 2 billion dollars over a stipulated 5-year period,� he revealed.
However, he pointed out that 45% of the houses will be allocated to satisfy the needs of the security sector and government agencies.
�The Home Finance Company (HFC) and the Private Sector Initiative (PSI) will make provision for all Ghanaians to purchase the houses� Depending on the level of furnishing, prices will be different,� he added.
Speaking in an interview with Kwami Sefa-Kayi from South Korea where the agreement was signed on Wednesday, Hon. Abongo added that the South Korean Company, together with Engineers and Carpenters from Ghana, who will be in charge of executing the job.
PEACEFM is reliably informed that the initiative is a private, public collaboration between a the government of Ghana and the South Korean company, STX Construction Group, who first put forward the proposal. At the request of the Vice President, John Dramani Mahama, they agreed to assist Ghana in the housing sector by providing the 200,000 housing units.
STX Group is a shipping to construction conglomerate.
The housing units will contain; flats, semi-detached and detached houses, and will range from the highest to the lowest classes, including social amenities at very affordable prices.
Currently, there is an urgent need for more housing units, as the housing deficit in the country stands at over 1 million, which is even expected to go up higher in the coming years.
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