President Mahama Revives Saglemi Housing Project as Republic Bank-JoyNews Habitat Fair Drives Private Homeownership Solutions

Yesterday•2 min read•10 sources

President John Mahama has signaled a new era for Ghana’s housing sector, highlighting the revival of the Saglemi Housing Project alongside a surge in private-sector financing initiatives. During a recent site visit, the President expressed confidence in the project’s progress, which is being spearheaded by LMI Holdings. This development coincides with the annual Republic Bank-JoyNews Habitat Fair at Achimota Mall, where hundreds of prospective homeowners are engaging with industry experts to navigate the complexities of property acquisition and construction. These combined efforts represent a unified push to address the country's housing deficit through both government-led infrastructure and private-sector engagement.

Under the new revival plan, LMI Holdings is committed to delivering the first 700 housing units of the Saglemi project by March 2027, with the total number of completed units expected to reach 1,500 by December of that same year. Once a stalled project due to legal and administrative hurdles, Saglemi is now being transformed with modern infrastructure, including high-speed internet and planned railway connections to facilitate easier commuting. President Mahama has urged the public to register early for these units, citing expected high demand, while financial institutions are already crafting specialized mortgage products to support potential buyers.

Complementing these large-scale government efforts, the Republic Bank-JoyNews Habitat Fair has provided a practical platform for citizens under the theme, ‘Dream it. Explore it. Own it.’ Despite intermittent weather, the event at the Achimota Retail Centre has seen a vibrant turnout of investors and builders. Exhibitors ranging from building material suppliers to mortgage providers have offered significant discounts and direct consultations. This fair serves as a critical link between the housing market and the public, empowering individuals with the financial literacy and technical advice needed to transition from dreaming about homes to owning them.

Supporting this ecosystem is the National Homeownership Fund (NHF), which is currently expanding its affordable housing interventions through strategic partnerships. Gizella Tetteh-Agbotui, the Deputy Minister for Works, Housing and Water Resources, emphasized that the NHF is crucial for implementing government policies through innovative financing and district-level projects. Together, the revival of Saglemi, the expansion of the NHF, and the active participation of private banks represent a multifaceted approach to creating sustainable paths to homeownership for the Ghanaian people.

This story touches markets covered on Anansi Intelligence ↗.

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President Mahama Revives Saglemi Housing Project as Republic Bank-JoyNews Habitat Fair Drives Private Homeownership Solutions

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