Kojo Oppong Nkrumah
Two preferred bidders have been shortlisted for final negotiations as the government concludes efforts to resume work on the Saglemi Housing Project.
After weeks of evaluation and due diligence, transaction advisors, Deloitte Ghana, have notified the government that either of the two firms may be selected after negotiations to complete the project.
At least 10 firms initially expressed interest in partnering the government to finish the uncompleted project, but five submitted bids as at the close of the bidding process in July 2024.
The Ministry of Works and Housing is expected to select the firm with the most favourable negotiating terms at the conclusion of the process.
Housing Minister, Kojo Oppong Nkrumah says the government will remain focused and meticulous in the transaction.
Background
On April 17, this year, the Ministry of Works and Housing called on private investors who were interested in assisting the government to complete and operationalise the Saglemi Housing Project to submit their proposals between April 17 and July 8, 2024, followed by the opening of bids on July 8 at 5 pm.
The entities that submitted were Afro Arab Properties Limited, Quarm-LMI Consortium, Dredge Masters-Titanium, Broll Ghana Limited and Masiltin Group.
The Technical Working Group on the Saglemi Housing Project’s completion and operationalisation received the bids in the presence of the Minister of Works and Housing, Kojo Oppong Nkrumah, in Accra last Monday.
Addressing stakeholders, the media and representatives of bidding entities among others, the sector minister said based on the last estimate by the Ghana Institute of Surveyors, over $100 million was required to complete the project.
The Saglemi Housing Project was initiated with a $200 million contract to construct 5,000 affordable housing units.
However, by January 2017, only 1,506 units were in various stages of completion, despite $197 million already paid to contractors.
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