Construction to Start on “One of the Most Ambitious Affordable Housing Projects in the World”
Vice-President says project will “enable working Ghanaians…to purchase a home”.
- First 6,500 of 200,000 affordable and sustainable homes to be built in Ghana’s capital Accra.
- Part of UNOPS Social Impact Investing Initiative which will deliver more than 800,000 affordable homes in five countries.
- Site in Amasaman, near Accra, to include school, medical centre, shops and sports facilities
- High-quality homes to be produced by local factories and constructed with energy efficient solar rooftops
- Project aims to reduce Ghana’s current housing deficit of two million units
- Similar projects will soon begin in Kenya, India, Pakistan, and the Caribbean.
The development of 6,500 homes has begun in Amasaman, near Accra, in the first part of ambitious projects by the government of Ghana, UNOPS and Sustainable Housing Solutions (SHS) Holdings, to build 200,000 affordable and sustainable homes.
The ground-breaking ceremony on 28 August was attended by over 500 of the country’s senior officials and project partners.
It marks the first step in UNOPS Social Impact Investing Initiative (S3I), which fosters innovative financing for the Sustainable Development Goals (SDGs). Similar projects will soon start which will deliver more than 800,000 affordable homes across Kenya, Ghana, India, Pakistan and the Caribbean – making it one of the most ambitious affordable housing projects in the world.
The project in Ghana will support the local economy and help reduce the country’s current housing deficit of two million units. All production and construction will be carried out by local employees, thus creating several thousand new jobs.
SHS has established a local factory to make building materials needed for the homes, which will be constructed with energy efficient materials, including solar panels.
Vice-President of the Republic of Ghana, Mahamudu Bawumia, said:
“Home ownership within a growing working class is one of the most fundamentally integral parts of a developing economy…We as a government know that the lasting solution to the housing deficit cannot be achieved without forming crucial partnerships with the private sector.
“In line with this, our Government has partnered with UNOPS and Sustainable Housing Solutions to deliver an affordable housing model which will include not only the homes to be built, but the related mortgage system to enable working Ghanaians within the country’s working class be able to finally afford to purchase a home that comes with all the amenities a decent home should contain.
“We look forward to the benefits this project will bring to the good people of Ghana.”
UNOPS Executive Director Grete Faremo said:
“We are proud to support the government of Ghana in their effort. This project goes beyond affordable housing. It will improve thousands of lives. It provides thousands of local jobs and supports a sustainable economy. It demonstrates clearly what UNOPS’ Social Impact Investing Initiative sets out to achieve: supporting national development agendas through helping attract financing from the private sector. This is one of the most ambitious affordable housing projects in the world and we look forward to its success.”
Dr. Allen Zimbler, Chairman of SHS Holdings said:
“Sustainable Housing Solutions is delighted to be partnering with UNOPS in building large scale affordable housing for everyone. SHS, through its highly efficacious low-cost construction methodology Bau Panel, can provide rapid construction of extremely disaster resistant and robust buildings of all kinds, bringing to bear solar energy, clean water and sanitation solutions, as well as anti-malarial coatings.
“Our goal is to provide high-quality affordability. In Ghana we are committed to large-scale training and education, creating local jobs for thousands which will boost the local economy and make use of local materials and services wherever possible.”
UNOPS mission is to help people build better lives and countries achieve peace and sustainable development. We help the United Nations, governments and other partners to manage projects, and deliver sustainable infrastructure and procurement in an efficient way. Read more: www.unops.org
About UNOPS Social Impact Investing Initiative (S3I)
UNOPS S3I seeks to de-risk and structure infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas. Projects selected are subjected to a rigorous and comprehensive due diligence process that will ensure a positive environmental, social and economic impact, with financial returns for private sector investors.
SHS Holdings bring innovative eco-friendly housing, energy, water and health protection techniques and applies them at scale in the developing world. The concept aims to provide a ‘turn-key solution’ to reducing the current shortfall of tens of millions of decent dwellings in the developing world. SHS works with governments, NGOs and the private sector to create safer and more sustainable environments for generations to come. Read more: www.shsholdings.org