Quarm-LMI Consortium has been selected as the preferred developer to complete the Saglemi Housing Project.
This followed the conclusion of negotiations led by a government team that included representatives from the Ministry of Works and Housing, the Office of the Attorney General & Ministry of Justice, the Ministry of Finance, and Deloitte, with technical support from the Ghana Institute of Surveyors.
The consortium made up of LMI Holdings, which specializes in industrial park development and real estate, and Quarm, with expertise in logistics, utilities, and finance, was chosen after a rigorous process.
A statement from the Ministry of Works and Housing disclosed that initially, five bidders were considered, but Quarm-LMI and Broll Ghana emerged as the final two shortlisted companies.
Broll Ghana is a joint venture involving the Social Security and National Insurance Trust (SSNIT), SIC Insurance PLC, and South Africa’s Broll Property Group.
The selected developer will be responsible for completing 1,506 housing units at Saglemi, which will be sold to the general public, particularly targeting salaried employees and workers’ unions.
The Ministry of Works and Housing clarified that the Saglemi project has not been sold to the private developer.
Instead, Quarm-LMI has been chosen to finance and complete the development, with both the government and the developer set to recoup their investments upon the project’s completion.
Speaking on the development, Minister for Works and Housing, Kojo Oppong Nkrumah, expressed optimism, stating, “This marks a major step forward in reviving the Saglemi Housing Project.”
“We are confident that the completion of the project will serve the people and help address Ghana’s housing deficit.”
The Ministry has pledged to provide further updates as the project advances.