The 5,000 affordable housing project, being constructed by Construtora OAS Ghana Limited, a Brazilian Construction firm, is funded by Emerging Markets Fixed Income Division of the Credit Suisse, London.
Alhaji Collins Dauda, the Minister of Water Resources, Works and Housing, on an inspection tour of the project, said the first phase comprised 1,502 housing units.
“We are currently 55 per cent complete for the first phase of the project,” he said.
He said about 140 housing units were almost completed with the foundations for all the housing units also completed to forestall any unforeseen circumstance in the raining season.
He said as part of the project, the company would provide recreational centres, commercial facilities and security for families, who would occupy the houses.
The Minister said all the drainage systems, road, earth work and other infrastructure works on site had also been completed.
He said the five-year project, being done at the cost of $200 million, had generated employment for about 1,400 Ghanaians with only a few expatriate on board.
Alhaji Dauda said plans were advanced to also initiate a mortgage system for people interested in buying the houses, with other marketing component being developed.
Mr Valdir Acatauassu, the Project Manager, Construtora OAS Ghana Limited, said the projects were being done through integrating modern elements of technology and utilising specific casting methods and insulated concrete forms technology.
He said the system formed part of technology transfer while incorporating aspects of green awareness.
The Project Manager said additional technologies would be factored in over the next phases, including hybrid energy solutions with emphasis on solar power.
“It is anticipated that over the next six years, an additional 9,000 housing units will be built, forming part of a township,” he said.
On November 6, 2013, President John Dramani Mahama cut the sod for the construction of the first phase of the Saglemi Housing Project in Prampram.