The Guinea Ministry of Housing and Urban Development and American Home builders of West Africa(AHWA),have signed a $207 million convention agreement targeting construction of 4000 homes in the Republic of Guinea.
The current production of housing in Guinea is well below the level required to address the needs of the population. To fill this gap, the Government of Guinea has stated that providing adequate housing to the greatest number of Guineans is one of its top priorities.
Click here to watch weekly episodes of Housing Development Programme on AIT
This new convention agreement builds on the success of AHWA’s two existing developments in Gomboyah and Doumbouyah to create a road map for construction of 4,000 homes in Guinea, from social housing to high-end accommodations.
US Ambassador Dennis Hankins, who just departed Guinea, remarked, “AHWA is developing homes for the middle class in Guinea. I have seen their projects here, which are of high quality. One of the things I love about this project is that the company founders are both former U.S. Peace Corps Volunteers – so they have for many years been ambassadors for Africa in the United States, and they understand how to work in West Africa and bring new investment here. AHWA has created a valuable way to bring more diaspora investment into West Africa by delivering homes built to international standards. We encourage them and wish them lots of success, as this kind of private venture can create jobs and improve economic development in Guinea and the wider region.”
Jonathan Halloran, AHWA CEO, stated, “We have invested a great deal of time and energy negotiating this agreement. We have built an investment program that will serve the needs of the Guinea population while also attracting the international and domestic investment commitments required to achieve our mutual goals.
We are excited to launch this next phase of our work in Guinea, and view our success here as a model for what can be achieved across West Africa when governments make a commitment to addressing the housing deficit in partnership with professional real estate developers.”
Source: prnewswire.com
