The Minister for Works and Housing, Mr Francis Asenso-Boakye, has expressed satisfaction at the quality of work undertaken by Ghanaian contractors on the 201 housing units in Tema Community 22.
The project is made up of 2- and 3-bedrooms, townhouses and flats under Phase II of the National Homeownership Fund (NHF) project.
The 201 residential apartments under Phase II, having seen Phase 1 (204 housing units) commissioned by President Nana Addo Dankwa Akufo-Addo in 2020, is a joint initiative between the Ministry of Works and Housing and the Ministry of Finance.
The project, constructed by the TDC Development Company Limited, is a gated estate with amenities such as electricity, water, tarred roads, covered drains as well as other essential facilities (schools, hospitals, recreational centres).
The project is aimed at ensuring that low-to-middle-income Ghanaians can afford housing units under the National Mortgage Scheme (NMS) being operated by the National Homeownership Fund in partnership with a consortium of financial institutions.
In his remarks, the Sector Minister said the completion of the first and second phases of the project is a testament to the government’s commitment to providing affordable housing to Ghanaians.
Acknowledging the daunting challenge of access to decent housing units in the country, Mr Asenso-Boakye urged Ghanaians to leverage the National Mortgage Scheme as an ideal way of owning homes in the country.
The Chief Executive Officer (CEO) of the NHF, Mr Delali Zumani, disclosed that Phase II of the project is scheduled to be completed and inaugurated next month, October while construction of Phase III, a 230 housing units (mix of 2- and 3-bedroom units and apartment blocks), is to commence soon.
Mr Zumani stated that the National Mortgage Scheme is currently working with five financial institutions namely, GCB Bank, Stanbic Bank, Republic Bank, Cal Bank and Access Bank, to operate a blended financing concept that provides mortgage rates lower than market rates to prospective homeowners.
Richard Aniagyei, ISD
