A Memorandum of Understanding (MoU) for the construction of 20,000 housing units every year for the next 2 decades between the Ghana Real Estate Developers Association (GREDA) and government has been signed.
This is according to Executive Secretary of GREDA, Samuel Amegayibor, who noted that the Association’s commercial contract with government had reached an advanced stage.
Speaking to the media, Mr Amegayibor expressed optimism that President Akufo-Addo will prioritize housing projects in his second term.
“Late last year, we got a response that our concerns had been minuted to the sector minister and so we were engaged at the ministry and we began discussions. And I’m happy to say that, that discussion led to the signing a commercial contract. And we hope that His Excellency President Akufo-Addo will in his new term, as early as possible offer us a ground on which to build the houses,” he stated.
“So we are not going to go back to the old processes of going back and forth. We have gotten to a point where a commercial contract has been signed and we can build on that,” he noted.
GREDA is expected to begin its construction of 20,000 housing units per annum this year.
President Nana Addo Dankwa Akufo-Addo in May 2019 challenged GREDA to provide at least 20,000 housing units per annum to help reduce the growing housing deficit which is estimated to be about two million housing units.
This, according to reports, took place in a meeting between GREDA and the president at the Flagstaff House, where the association asked the president for incentives to facilitate the construction of 5,000 affordable housing units, but to which President Akufo-Addo said nothing short of 20,000 units per annum will be accepted.
