The government is nearing the completion of its search for a partner to revitalize the stalled Saglemi Housing Project.
After a rigorous evaluation process, transaction advisors Deloitte Ghana have identified two preferred bidders who will now enter final negotiations.
Initially, over ten firms expressed interest in collaborating with the government to finish the project. This number was eventually narrowed down to five, and their bids were submitted in July 2024. Following a comprehensive review, the Ministry of Works and Housing has shortlisted two contenders.
The ministry will now engage in negotiations with these two firms to determine the most favorable terms for completing the project.
Minister of Works and Housing Kojo Oppong Nkrumah has emphasized the government’s commitment to a thorough and transparent process.
Background:
The Saglemi Housing Project, originally envisioned to provide 5,000 affordable housing units, has faced significant delays and cost overruns. In April 2024, the government issued a call for private investors to submit proposals for completing the project.
Five entities responded to the call: Afro Arab Properties Limited, Quarm-LMI Consortium, Dredge Masters-Titanium, Broll Ghana Limited, and Masiltin Group.
Their bids were opened in July, and the Technical Working Group on the Saglemi Housing Project’s completion has been reviewing them.
According to recent estimates, completing the project is expected to cost over $100 million. The government is hopeful that a successful partnership with one of the shortlisted bidders will finally bring this long-awaited project to fruition.
