STX fallout; gov't might consider GREDA if ...
Ghana’s housing deficit may seem very huge but real estate developers feel the problem could be solved locally without the Korea STX housing deal.
As the Korea housing project suffers some setbacks, members of the Ghana Real Estate Developers Association are repositioning themselves to take charge of the country’s housing deficit.
The STX housing deal which was supposed to partly solve the problem of a huge housing deficit confronting the country appears to be in disarray. It started with the dismissal of the Country Director of STX Engineering and Construction Ltd, Bernard Kwabena Asamoah, and now the government of Ghana is being blamed by the Korean partners for a breach of contract.
It is feared that the Korean partners may sue government for breaching the US$10 billion housing deal out of which $1. 5 billion was to have been used to build 30,000 housing units for Ghana’s security agencies.
The deal was approved by parliament last year under very controversial circumstances with the opposition counseling government to consider GREDA who could execute the same task at half the cost of the STX deal.
Even though government is denying responsibility for the delay of the project on claims that it’s been held to ransom by the Korean partners, it is being advised to tread cautiously. There are fears that the STX deal may not see the light of day and if it so happens, government may have no other option than to fall on GREDA.
It is estimated that about eighty percent of Ghanaians live in rooms and not houses. GREDA believes the social housing needs of the country can only be resolved through private–public partnerships.
The STX Korea Housing deal was expected to provide 30,000 housing units for public and security officials, to help reduce the housing deficit in Ghana, but Minister of Works and Housing, Alban Bagbin, has already announced that the government of Ghana may soon pull out from the STX housing deal.
By: e.tv Ghana
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