Gov’t creating conducive atmosphere to attract private investment into housing industry

Mr Francis Asenso-Boakye, the Minister of Works and Housing, says the government is creating the enabling environment to attract private investors into the housing industry.

He said this during the commissioning of phase one of the SuCasa O’Grantson No. 1 Community at East Legon Hills, while also cutting sod for the commencement of phases two and three.

Speaking at the ceremony, Mr Asenso-Boakye, who is also the Member of Parliament for the Bantama Constituency in the Ashanti Region, said the private sector had a major role to play in bridging Ghana’s housing deficit.

“The commissioning of this project is a confirmation that the desired environment is being created by the government to attract private sector investments into the housing sector. The government recognises the importance of investing in this industry, as it holds the key to the sustainable development of our dear country.

“Indeed, the industry contributes to our country’s socio-economic development by providing significant employment opportunities for both skilled and unskilled labour.”

“I am particularly happy to learn that the company endeavours to transact business in the Ghana cedi, which has enormous benefits for our local economy and also ensures compliance with regulations of the Bank of Ghana,” he stated.

Mr Asenso-Boakye used the opportunity to enumerate some of the initiatives the NPP government had undertaken to transform the housing industry.

“My Ministry is presently focused, among other things, on the review and enactment of legislation and addressing the institutional gaps to create the appropriate platform for best practices within the industry.

“For this reason, the Ministry of Works and Housing has initiated the process to establish the Ghana Housing Authority, which will have the mandate to regulate, plan, and manage housing developments in Ghana, in collaboration with private sector developers.

Mr Michael O’Grantson-Agyapong, the Chief Executive Officer of SuCasa, said the sole aim of the company was to tackle the housing infrastructure deficit through the provision of affordable housing units for Ghanaians.

“As a business, we are consciously keeping the prices of our houses affordable because we believe affordable housing is a must-have for every Ghanaian.

“The grand vision of SuCasa is to build 2,000 houses by the end of 2023. We expect to complete phase two of the O’Grantson Community Project in March, commission it in April, and complete phase three by the end of the year,” he stated.

The event was attended also by Nii Laryea Afotey- Agbo, Samuel Amegayibor, Senior Management and Staff of SuCasa, among other dignitaries.