$678,481,000,000

This development is the first in a series of long-term affordable/social housing projects designed to build 1m+ new housing units over the coming 15 to 20 years. The current situation in Ghana is that private real estate developers have complemented government efforts to provide housing, albeit, focusing on HNW Ghanaians. Though public bodies and private developers have been providing units there is still a gap in supply with an annual requirement estimated to be in excess of 91,000 units. The analysis becomes more severe when houses that will dilapidate are also considered. This implies that the housing requirement by 2025 will be more than the projected 2.2 million units as there will be the need to replace old structures. The political environment in Ghana is peaceful and stable in comparison to other West African countries, and across the entire continent. With the country entering two decades of multiparty democracy, outlook remains positive with upcoming elections expected to be peaceful. The CIA Factbook states: ‘In recent years, Ghana has taken an active role in promoting regional stability and is highly integrated in international affairs.’ Ghana has witnessed increasing GDP growth over recent years. Growth in 2024 is expected at 2.8 %. However, growth will gradually rebound to its long-term potential of approximately 5% by 2026 as prevailing conditions stabilize. By 2026, the authorities expect to generate a primary surplus of 1.6 % of GDP, a fiscal adjustment exceeding 4 percentage points of GDP between 2023 to 2026. The project principal is a privately owned company with offices in USA and Ghana, among other satellite offices in Oman and China. It has the exclusive contract with the Ghanian government to execute the housing program. The image shows elevations from social housing projects recently completed by the project principals.