IDM International, an Israel company has concluded a contract with the State Housing Company (SHC) Limited to deliver 20,000 housing units in Ghana. The contract signing took place on 10th March, 2016 at Tel Aviv in Israel. IDM International is a subsidiary of the Eldad Peri Group, one of the Israel’s Real Estate Construction giant.
According to SHC Managing Director, Dr Samuel Sarpong, the housing project is aimed at reducing the yawning housing deficit in the country. However, SHC Board Chairman, Kobina Fosu, added that the project objective to construct 20,000 homes is entirely to ease the housing problems encountered by Ghanaians.
Present at the signing ceremony was the Technical Advisor to the Minister of State, Private Sector Development, Office of the Israeli President, Haj Abdul Rahman Abukari. The project agreement is one of the joint venture agreements being signed with SHC’s foreign partners to improve the housing situation in Ghana.
He stated that this agreement is one of the joint venture agreements being signed with SHC’s foreign partners to improve the housing situation in Ghana.
Most cities in Ghana, host low-income earners who cannot afford good quality housing. They either rent usually in poor quality overcrowded dwellings or build in illegal settlements, whereby illegal settlements cannot get conventional housing finance and lack the income or formal documentation that housing finance agencies require.
Ghana requires about 5.7 million rooms by 2020 to meet its housing needs in the urban centres. This is an indication that in every minute daily, new rooms must be completed for 10 years.
However, the government of Ghana is on course to reduce the 1.7 million housing units’ deficits, and have earlier commended Shelter Afrique for approving US$44m for the construction of more housing units. According to President Mahama, Ghana needs an average of 150,000 units of housing to meet the housing units of Ghana in the next 20 years.