Broll Ltd and Quarm LMI have been shortlisted for final negotiations as the government concludes efforts to resume work on the Saglemi housing project.
This decision follows weeks of rigorous evaluation and due diligence by transaction advisors Deloitte Ghana, who have confirmed that either firm could be selected to complete the project after negotiations conclude.
The move brings renewed optimism for a project that has faced significant delays.
Initially, at least 10 firms showed interest in partnering with the government to finish the incomplete housing project, with five submitting bids by the July 2024 deadline.
The Ministry of Works and Housing is set to choose the firm with the most advantageous negotiating terms as the process wraps up.
Housing Minister Kojo Oppong Nkrumah emphasized the government’s commitment to a thorough and careful transaction, underscoring their focus on rectifying the situation.
The Saglemi Housing Project, initially contracted for $200 million to build 5,000 affordable housing units, has struggled with significant setbacks.
By January 2017, only 1,506 units were completed or near completion, despite $197 million already disbursed to contractors.
