President Nana Addo Dankwa Akufo-Addo on Tuesday cut the sod for work to commence on the construction of 2000 affordable housing units at the Appolonia City Housing Project Site at Oyibi near Accra.
The project, which begins with the construction of an initial 100 units, is a joint venture between the Ghana Home Loans and the chiefs, leaders and residents of the Appolonia Community that would lead to the development 2000 homes on a total land size of 160 acres.
Prices for the housing units would start from 45,000 dollars to enable families with median incomes to access quality homes.
President Akufo-Addo, in an address, said government recognised the need for Ghanaians to own their homes, noting that the project was in line with its vision of leveraging on appropriate public policy and private-public investment to deliver quality affordable
social housing for Ghanaians.
With a housing deficit of over 1.7 million units, the President said the Appolonia City Project was one of the several initiatives to be introduced along the housing value chain to achieve a cost effective, efficient and sustainable housing sector.
He said it was heart-warming that the Appolonia Community had a stake in the project, and urged other communities to emulate the initiative.
“It is a model I want to encourage everyone to emulate,” the President urged.
The President assured the private sector that his government would provide the enabling environment for businesses to flourish to drive its vision of rapid infrastructural development.
He further gave the assurance that government would ensure that the project’s challenges are addressed, and called on the project owners to observe strictly the rules and regulations of the sector and of the country.
“We are on the threshold of something remarkable in Ghana and I am pleased that we have those involved in the Appolonia City project as partners in our country’s exciting journey,” he said.
Mr Bright Owusu-Amofah, the Chief Executive Officer of Appolonia City, said the project was setting the agenda for a world-class affordable urban development.
He was upbeat that it would improve the housing deficit in the country, calling on government to expand the Adenta-Dodowa Road to enable easier commuting and transportation of goods and services on that corridor.
The first 100 units of the project is expected to be completed within 18 months.