The United Nations Office for Project Services (UNOPS) and SHS Holdings (SHS) have scaled up their housing project in Ghana to 200,000 housing units from the initial 100,000.
Consequently, a new ground-breaking agreement has been signed between UNOPS, SHS Holdings and the Government of Ghana, through the Ministry of Education, to build 100,000 sustainable homes for university students and teachers.
This is in addition to an earlier agreement signed in September 2018 between SHS Holdings, UNOPS and the Government of Ghana to deliver 100,000 affordable homes.
3,000 New jobs
It is estimated that the two projects will create at least 3,000 new jobs for Ghanaians as all production and construction will be carried out by local employees.
Energy-efficient solar rooftops
SHS Holdings, through its student housing brand, Suite Living, will provide student housing that uses energy-efficient solar rooftops.
All buildings will be treated with a product to help prevent malaria through the eradication of mosquitoes, based on a World Health Organisation (WHO)-approved non-toxic chemical.
Factory site already established in Accra
SHS Holdings has already established a factory site in Accra, where it will apply cutting-edge building technology to produce advanced building materials.
First phase to be ready in 2 years
The project is already underway, and following the selection of appropriate sites, the first phase should be delivered within two years of construction starting.
Mortgage support for teachers
A unique aspect of the agreement is the inclusion of financial assistance for teachers with mortgage support from the Ghana Education Trust Fund.
The project is the latest step in UNOPS Social Impact Investing Initiative (S3i), which aims to de-risk and attract financing from the private sector to national development projects.
SHS and UNOPS, together with their partners, seek to attract additional project finance to deliver at least 200,000 affordable homes across Ghana, thereby reducing the current shortfall of almost two million homes.
It is a game-changer – Dr Bawumia
Vice-President of Ghana, Dr Mahamudu Bawumia described it as a game-changer in the Ghanaian housing market.
Education Minister excited
The Minister of Education of Ghana, Dr Mathew Opoku Prempeh said, “The Ministry of Education and the Government of Ghana are very excited over our inclusion in the UNOPS sustainable housing project and the proposed 100,000 units for teachers and student accommodation.
“We eagerly look forward to the success of this project as it will go a long way when implemented to help alleviate the accommodation challenges our country faces in the sector.”
UNOPS Executive Director hails initiative
Executive Director of UNOPS, Grete Faremo said, “Last year, UNOPS and the Government of Ghana signed an agreement to help change thousands of lives in the country.
“Today, our commitment extends further and focuses on one of the most important sectors in any country – the education sector.
“This landmark project will not only give Ghana’s future generation access to affordable housing, but will also give the people teaching that future generation the opportunity and security to own their own home.”
Chairman of SHS Holdings
Chairman of SHS Holdings, Dr Allen Zimbler said, “We salute the Ministry of Education of the Government of Ghana for its bold and proactive approach to solving the perennial and growing problem of accommodating increasing numbers of students and faculty.
“SHS, through its Suite Living subsidiary, is proud to partner with UNOPS once again in providing innovative, sustainable and high-quality housing while at the same time creating opportunities for employment and skills development.
“This follows the landmark agreement for 100,000 affordable homes signed between UNOPS and the Government of Ghana in September 2018 on the sidelines of the UN General Assembly in New York and witnessed by the President of Ghana, bringing the total to 200,000 affordable housing units to be constructed for the people of Ghana.”
UNOPS’ mission is to help people build better lives and countries achieve peace and sustainable development. It helps the United Nations, governments and other partners to manage projects and deliver sustainable infrastructure and procurement in an efficient way.
About UNOPS Social Impact Investment Initiative (S3i)
UNOPS S3i seeks to de-risk and structure infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas.
Projects selected are subjected to a rigorous and comprehensive due diligence process that will ensure a positive environmental, social and economic impact, with attractive risk-mitigated financial returns for private sector investors.
About Sustainable Housing Solutions (SHS) Holdings
SHS Holdings brings innovative, eco-friendly housing, energy, water and health protection techniques and applies them at scale in the developing world.
SHS works with governments, NGOs and the private sector to create safer and more sustainable environments for generations to come.
With a management team that has many decades of successful relevant industry experience in finance, housing, sustainable development and renewable energy, SHS is capable of delivering multiple worldwide multi-billion-dollar projects.
About Suite Living
Suite Living is a subsidiary of SHS Holdings aiming to provide students with a secure, study-friendly “smart roofs over smart heads” environment, including recreational facilities and relaxing outdoor surroundings, enabling students to gain the best possible experience throughout their studies.
Source: The Finder