Quarm-LMI Selected By Government To Complete Seglemi Housing Project

The Government of Ghana is set to redevelop the abandoned Saglemi Housing Project, with Quarm-LMI emerging as the preferred developer. After months of negotiation by a team appointed by the government and comprising the Ministry of Works and Housing, Ministry of Finance, Office of the Attorney General, Ministry of Justice, and Deloitte, with crucial technical evaluations provided by the Ghana Institute of Surveyors, the Government of Ghana intends to take over the stalled Saglemi Housing Project and has selected Quarm-LMI as the preferred developer.

The government invested $200 million in the Saglemi Housing Project to accommodate 5,000 low-cost housing units, which was only partially executed with 1,506 units when it was brought to an abrupt stop due to the unavailability of vital infrastructure like water, electricity, and sanitation. The incomplete units were uninhabitable, and it was decided that completing them would take some additional $100 million, which the government did not have.

Under the new deal, the government's current investment shall be classified as equity and when the project is completed it will have both the state and Quarm-LMI recover their respective investments through an SPV, designed to duly monitor the project completion without bias, with consequent accountability. 

Upon completion, the Saglemi Housing Project will help reduce Ghana's alarming housing deficit standing at 1.8 million. What this redevelopment means is not just an improvement in the housing landscape of the country but also, and very importantly, a provision for people in Ghana of affordable housing.

It is thus a welcome commitment by the government to revive this project and start ensuring those long-standing challenges within the housing sector are addressed to create real value for the people through public investments.