STX FINALLY PROVIDES COST PER UNIT

 

They have also added a 9% contingency fee at $117 million. This puts the total construction cost at $1.3 billion.

What this suggests is that Government has now reduced the controversial insurance premium from $254 million to $200 million. It also means that the construction cost has been inflated to keep the financing cost still at $1.5 billion.

In his press conference on Tuesday, July 27, the Works & Housing Minister put the average cost per unit at $15,000, which puts the total cost at $450 million, a contrast to what STX is supplying to Parliament.

For the 15,240 single bedroom apartments, unit cost will be $12,510.

For the 9,356 two bedroom apartments, cost per unit is $32,000.

The 5,217 3 bedroom flats will set Government back at $43,000 per unit.

There are also 122 3-bedroom bungalows. Each will cost $65,000.

Finally, for the 65 four-bedroom bungalows, each will cost $73,000.

At his press conference, Mr Alban Bagbin in justifying why Government presented the loan agreement without any technical details, he said, "If you don't approve the loan, how can you get the drawings? If you don't approve the loan there will be no supplier's credit."

He advised those opposing the deal to not use "emotions but reason."

Meanwhile, GREDA on Monday August 2 issued a press statement that they have presented their  proposal to Government. Details of it are that they can put up 30,000 units for the security agencies in a record 2 years at $730 million. This they say should come out of an off-take offer of 40% for Government out of a 300,000 housing project they want to build in 10 years.

This 300,000 housing units with all amenities and infrastructure as per the STX deal will cost some $7 billion - $3 billion less than the smaller 200,000 units the Koreans say they will build at $10 billion.

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what???? concerned ghanaian (196.201.37.xxx) 2010-07-28 06:40:12 what are the single unit houses for? hostels or recruits? Reply 1 0

kojo owusu (41.218.247.xxx) 2010-07-28 14:18:36 I listened to Gabby talking about this deal. Is great to deliberate on issues and ensure the people of ghana get a good deal. he talked about a South korean city project. I believe he meant the Songdo IBD. The cost is $40billion and its over an area of just 1500 acre. The price per unit there is $500,000 apartments. Lets compare apples with It s made up o Reply 0 0

Sejong City Gabby (41.190.90.xxx) 2010-08-01 10:52:47 I was referring to the controversial Sejong City project, 95 miles south of Seoul which carries a price tag of 16 trillion won ($13.7 billion). It is estimated to house 500,000 people create 250,000 jobs, to be linked to the rest of the country by 9 highways. It has led to the resignation of Korea's prime minister. Reply 0 0

STX Deal Vuguse A. Thomas (41.218.199.xxx) 2010-07-28 16:16:08 we the 'kukurudites' will always hold our leaders in high esteem so long as they continue to make us proud, both in parliament and the Institute.Garbi&co. keep the good work Reply 0 0

idoit govt. ndc govt. is bad. (41.218.245.xxx) 2010-07-30 11:16:57 they going to loss next two years. Reply 0 0

ndc govt. is bad. (41.218.245.xxx) 2010-07-30 11:18:56 Reply 0 0

ndc govt. is bad. (41.218.245.xxx) 2010-07-30 11:21:09 Reply 0 0

Infrastructure? Kojo (92.7.126.xxx) 2010-07-30 23:56:54 Myjoyonline.com: Minority replies Bagbin; Says STX is unreasonably expensive: "From the above article the minority leader mentioned that …also government will have to provide infrastructure – roads, electricity, water, shops, whatever." However, from the your articles "STX FINALLY PROVIDES COST It seems to include nnniUNIT" it seems to include infrastructure. I am not sure who is reporting the truth. In time like this peopel can sometimes do not pay attention to details. I will be supprised and baffled in intrastructure was not part of the contract. Its past the time that we should consider beyound 21st century developemnt. Developing a new residential estate without drainage, roads, water, electricity, schools, commercial trading center will be more diabolical than the insurance on the loan that has been the biggest debate. Drains: We all know that bad draiange system is one of the main contributing factors to mosquito breeding. Is the govt developing this estate ... Reply 0 0

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