Saglemi Housing Revival: Quarm-LMI Consortium Selected to Complete 1,506 Units
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Quarm-LMI Consortium Selected to Complete the Saglemi Housing Project.
The Quarm-LMI Consortium has been chosen as the preferred developer to complete the stalled Saglemi Housing Project. This decision follows the conclusion of negotiations led by a government team, which included representatives from the Ministry of Works and Housing, the Office of the Attorney General and Ministry of Justice, the Ministry of Finance, and Deloitte, with technical support from the Ghana Institute of Surveyors.
According to a statement issued on October 18, 2024, by the Ministry of Works and Housing, two companies Quarm-LMI Consortium and Broll Ghana Limited were shortlisted from an initial pool of five bidders for the final phase of negotiations. After careful consideration, the government selected Quarm-LMI Consortium to spearhead the project’s completion.
Broll Ghana Limited, which was among the final contenders, is a joint venture between the Social Security and National Insurance Trust (SSNIT), SIC Insurance PLC, and Broll Property Group (BPG), a South African property services company renowned for its expertise in real estate management. Meanwhile, Quarm-LMI Consortium brings together two key partners: LMI Holdings, a company known for industrial park development and real estate ventures, and QUARM, which specializes in logistics, utilities, and financial services.
The Ministry emphasized that the project’s completion will involve the construction of 1,506 housing units, which will be made available to the public. The focus will primarily be on salaried employees and workers' unions, creating affordable housing solutions to address the country's housing challenges. Importantly, the Ministry clarified that the Saglemi project has not been sold to the private developer. Rather, the selected consortium will finance and complete the project, ensuring that both the government and the developer recover their investments through the sale of the housing units upon completion.
Kojo Oppong Nkrumah, Minister for Works and Housing, expressed optimism about this new development. He noted that the government’s selection of Quarm-LMI marks a significant step forward in reviving the Saglemi Housing Project, which has experienced delays and challenges since its inception. "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 Minister remarked.
The completion of the Saglemi project is expected to play a critical role in mitigating Ghana’s housing deficit, providing much-needed accommodation for workers across various sectors. With the involvement of a financially capable private developer, the government aims to expedite the project’s delivery while ensuring that affordable housing remains a priority.
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