SSNIT To Invest In Profitable Ventures - Odoom - HOUSING

In the area of housing,  the Switchback Road Development project will be jointly undertaken with other  real estate developers. This according to the DG is being done  through a joint venture agreement with Messrs Life Forms and Trassaco Estates Development Company Limited.

The proposed site of 16.88 acres is expected to accommodate a mixture of high class residential and commercial design and urban landscape in a self-contained neighbourhood with retail centers, community facilities and transportation links.

About 500 units of high class residential apartments of various sizes, 50,000 square meters of office space and 250-room three start hotel and retail shops with complimentary facilities would be built.

The  Dunkona Housing Project will now be undertaken after a protracted court case involving encroachments on the land.

The land has now been allocated to various developers for the  development of social facilities such as churches and schools.

The Trust has also entered into a joint-venture with a South African company, Delico Investment to develop 26,800 square meter shopping mall along the main Winneba Road.

There is also another project at Klagon called Meridian Garden and Eagles Place. A  two to three bedroom apartment is expected to be developed.

Dr Odoom made it clear that the Trust would no longer do social housing because of the heavy cost involved and the drain on the Trust.

He said the investments are meant to enhance the partial income replacement of pensioners whose annual absolute growth is more than 7,000.