According to him, the government alone could not address the housing deficit which currently stands at 1.8 million, and called on the private sector to help address the deficit.
Inaugurating the No. 1 O’Grantson Communities at the East Legon Hills in Accra on Friday, Mr Boakye called on both local and international investors to take advantage of the housing deficit in the country and invest in the sector.
The 17-Unit three and four-bedroom housing apartments is to be constructed by Sucasa Properties Limited, a real estate company.
It formed part of a four- phase project which is expected to deliver 2000 housing units by the end of 2023.
As part of the programme, the Minister visited the second phase of the No. 2 O’Grantson Communities which is a 55 housing unit apartments currently under construction, and cut the sod for the third phase which compromises 800 units.
Mr Boakye said the government was reviewing existing and enacting new legislations to promote the housing industry.
The Minister commended Sucasa Properties Limited for the role it was playing to address the housing deficit and charging his properties in the local currency.
“It is gratifying to note that Sucasa has taken into consideration a comprehensive planning concept that provides for a self-sustainable community that provides relevant social amenities, including a police post, healthcare facilities, shopping and recreational centres,” Mr Boakye stated.
He said such projects provided an opportunity for Ghanaians to access housing that meets international standards, and entreated all private sector developers looking for opportunities to invest in housing projects in Ghana to study the Sucasa Properties Limited’s model and invest accordingly.
He pledged that the government would continue to initiate policies to help the housing industry to flourish and thrive.
The Chief Executive Officer (CEO) of Sucasa Properties, Michael Kwabena Owusu O’Grantson, said the objective of the O’Grantson project was to build communities to address the housing deficit and add on to the housing infrastructure of the country.
He said the company would soon start the fourth phase of O’Grantson Community at Ayi Mensah which would involve 80 housing units.
He said Sucasa Properties Limited had come into the Ghanaian Real Estate industry to stay, saying, “We are here to stay forever”.
Mr O’Grantson called for collaboration to help address the housing challenges facing the country.
“With collaboration, there is nothing we cannot achieve,” he said.
The Executive Director of the Ghana Real Estate Developers Association, Samuel Amegayibor, in a fraternal message, said the real estate had not been spared of the effect of the COVID-19 pandemic and commended for the construction of the new housing apartments.
