SuCasa Properties, a leading real estate company in Ghana, has unveiled the second phase of its O’Grantson Communities located in East Legon Hills, Accra. The No. 2 O’Grantson Communities, consisting of 55 housing units, is the second of four luxurious housing projects being developed by SuCasa Properties and its partners to reduce Ghana’s housing deficit.
The first phase of the project was unveiled in February 2023. The No. 3 O’Grantson Communities, which will include 816 units, malls, and cinemas, and the No. 4 O’Grantson Communities located at Ayi Mensah, are scheduled for completion next year to provide affordable housing for Ghanaians.
Government Support for Affordable Housing
During the unveiling event, the Minister for Works and Housing, Kojo Oppong Nkrumah, announced that the government has put together a Public-Private Partnership (PPP) Framework with an incentives package to support private sector developers. This framework aims to help deliver affordable housing units to Ghanaians and is awaiting parliamentary approval. The primary objective is to address the existing 1.8 million housing deficit in the country.
“In this Public-Private Partnership Framework, the government is going to make land banks available to private developers. We will seek parliamentary approval for tax waivers on imported machines and materials for large-scale construction projects,” Minister Nkrumah stated. He also mentioned efforts to work with banks to ensure affordable construction finance through the National Home Ownership Fund, making properties more affordable upon completion.
Addressing Housing Challenges
The Minister expressed concerns over the high prices of accommodation due to challenges such as land acquisition, high cost of building materials, taxes, and lack of affordable construction finance. “Everybody talks about affordable housing, but if we leave you to do all of this, the affordable housing unit will not be affordable. It is essential that the government collaborates with the private sector to close this 1.8 million gap,” he said.
SuCasa’s Commitment
Michael O’Grantson-Agyapong, CEO of SuCasa Properties, reiterated the company’s commitment to making a significant impact in the industry. He emphasized the importance of affordable housing in Ghana and SuCasa’s determination to complete their third and fourth O’Grantson Communities to help reduce the housing deficit.
“We will continue to focus all of our energies on making an impact, not just in the shortest possible time but immediately. Affordable and accessible housing is a big problem for all of Ghana, but we promise that we are a bigger solution,” he stated.
Collaboration with Government
Member of Parliament for Adenta Constituency, Abu Ramadan, highlighted the private sector’s role in reducing Ghana’s housing deficit and the need for government intervention. “I believe that the private sector has a role to play in reducing this housing deficit. If the government partners with them effectively and provides amenities like roads, electricity, and water, it will help reduce the deficit,” he said.
The unveiling ceremony featured cultural performances and choral music. Attendees included Director of Diaspora Affairs, Office of the President, Kwasi Awuah Ababio; Chairman of the Board of SuCasa Properties, Francis Ato Brown; and Chairman of the Board of Directors of the ERMCRI Group, Kweku Koranteng O’Grantson Agyapong.
