The Saglemi negotiation framework is approved by Akufo-Addo.
President Nana Addo Dankwa Akufo-Addo has supported a system for discussions with the effective bidder(s) in the continuous goal of the Saglemi Lodging Task.
Kojo Oppong Nkrumah, the Minister for Works and Housing, requested approval from the President.
Related Posts:
According to sources familiar with the development, the framework will treat the current value of work performed at Saglemi as government equity in the project, and the selected partner’s equity in a Special Purpose Vehicle (SPV) that will be established for the completion of the project will be treated as the completion cost.
Continues from the offer of the houses when at last finished will be divided among the public authority and the confidential accomplice as per their stake in the SPV.
The Salem Housing Project received approximately $200 million in funding from the government. It was initially intended to provide 5,000 units of affordable housing. However, the development was deemed uninhabitable due to the absence of essential infrastructure like water, electricity, and sanitation when the project was stopped, with only 1,506 units partially completed.
The Ghana Institute of Surveyors later conducted a valuation, estimating that an additional $100 million would be required to finish the 1,506 unfinished units; funding that the government was unable to provide.
After that, obtaining private sector financing and technical expertise to finish the project was approved by the Cabinet. In order to accomplish this goal, a Request for Proposals (RFP) was issued in April of this year.
The government appointed Deloitte Ghana as the Transaction Advisor to evaluate the July 8, 2024, bids submitted by Afro-Arab Properties Ltd., Quarm-LMI Consortium, Dredge Masters-Titanium, Broll Ghana Ltd., and Masiltin Group to ensure a fair and open process.
As indicated by the timetable, the Exchange Consultant is supposed to introduce the favoured bidder(s) to the Service of Works and Lodging by mid-September. When given, the public authority will go into talks to lay out terms great for setting up a joint endeavour between the two gatherings.
The SPV shaped through this association will be answerable for building and operationalizing the 1,506 lodging units.
The President’s endorsement of the system makes room for talks to start, the fruition of the assessment, and the accommodation of the favoured bidder(s) by the Exchange Consultant.
