Monrovia – The National Housing Authority (NHA) is at the verge of signing real estate development contract with a Burkinabe firm for the construction of over 50,000 housing units, but the contract will not pass through the Legislature.
Report by Lennart Dodoo, [email protected]
A delegation from GELPAZ IMMO-SA, a real estate development firm based in Burkina Faso, is in the country to finalize discussion for the signing of a contract.
At a press conference held Tuesday, 14 August 2018, the Managing Director of the National Housing Authority (NHA), Duanah Siryon, could not give many details on the agreement, emphasizing that the Government at the moment has no contract with the company as discussion is still ongoing.
“The Government of Liberia as not entered into a contract with them yet – we have not signed a contract yet. He just came. They invited us, we went there last month so we invited them to come here so we can discuss further. From this meeting, we could be able to consummate a contract before they leave; so with all the meetings we are having with other stakeholders, one of the agenda is to be able to consummate the agreement before Friday,” Siryon said.
According to Siryon, GELPAZ IMMO-SA as a private investor would not need a legislative ratification to commence their investment in Liberia, arguing that their investment is not a loan or grant to Liberia, rather a private investment.
He said the company is proposing the construction of 50,000 modern, affordable housing units, but could not add monetary value to the units or the entire project.
The NHA Managing Director disclosed that the NHA would provide the land while the company funds the investment.
It is not clear what the company would get in return for the huge investment in Liberia.
But the president of the company speaking through an interpreter said, his company’s investment in Liberia to support President George Manneh Weah’s pro-poor agenda by providing affordable housing units for the poor.
He said the number of housing units to be built would be based on the government’s request and would range from one to three-bedroom units.
He boasted of constructing thousands of units in Ivory Coast.