Modello Properties Limited, a local property development company has partnered with Dagbo Limited Incorporated, a US-based company, to construct housing units across the country within the next ten years.
The $8 -million housing project, which would begin in August this year, would involve the construction of 20,000 housing units in Amasaman, Oyarifa and Prampram in the Greater Accra Region.
The first phase of the project which would deliver 760 housing units – include two units story apartment, four and five luxury bedrooms,and would begin in August this year, and completed within two years.
Announcing the partnership at a news conference in Accra yesterday, the Chief Executive Officer (CEO) of Modello Properties Ghana Limited, Bright Semanu Attah said the project was meant to address the over 1.7 million housing deficit in the country.
“The objective of the project is to provide quality and affordable decent housing for low, middle and huge income earners,” he said, adding that “this will accord hundreds of Ghanaians the opportunity to own and live in high quality homes they know they can afford for the long term.”
The CEO said the two companies had acquired huge tracts of land in Amasaman, Oyarifa and Prampram for the project, saying under the partnership, the two companies intend to create Modello City Homes in the aforementioned towns of the Greater Accra Region.
“The project will involve the construction of luxury homes (Royal Grace), Prestige standard and two bedroom apartments with amenities such as recreational centre, club house, tennis court and basket ball pitch, shopping mall, health centre, pre-school with 24-hour security,” he said.
In addition, Mr Attah said the Modello City Homes would have ultra modern water and drainage systems to provide reliable potable water supply and prevent flooding in those communities.
The CEO of Modello Properties Ghana Limited indicated that the project would help to transfer American building expertise and technology to Ghana.
Mr Attah explained that the company had developed unique payment system where buyers could pay upfront and occupy the homes or buy the property and live and pay in instalment over a period of 15 years.
He said the housing units had been priced in an affordable way to enable people from all the income bracket to own a house, saying the two bedroom, four and five bedroom luxury homes go for G$70, $180,000 and $150,000 respectively.
After completing the housing units in the Greater Accra, the CEO said the company intend to extend their operations to Ho, Kumasi and Takoradi.
“In the future, Modello Properties Limited and Dagbo Limited Incorporated plans to venture into low cost (affordable) housing to provide housing units for low income earners.”
Mr Dagbo Thomas, the CEO of Dagbo Limited Inc said a partnership deal had been sealed with Civil Engineering Expert Limited and CREDEF Finance Company, to execute the project.
He said the project would help attract capital to the country, create employment and help address the housing deficit in the country.
By Kingsley Asare
