Phastor to build 120 affordable housing units

Business News of Tuesday, 7 January 2014

Source: Graphic Business

Phastor Limited, a leading concrete products and roofing sheets manufacturer in the country, is to construct 120 affordable houses at Oyibi in Accra by the first quarter of this year.

The two to three-bedroom houses, which will be built on a serviced plot with water and electricity on site, will be targeted at the lower to middle income earners in the country.

The Managing Director of the company, Mr John Stephen Sam, who disclosed this to the Graphic Business, said we intend to rely on the quality but affordable building materials we produce to beat the cost of housing construction down drastically.

We will be cheaper than competition because we are already producing building materials and roofing sheets and, therefore, we will use what we produce to build the houses at cheaper costs, he said.

According to him, the company has been at the forefront of producing concrete and roofing products for many real estate developers in the country. He noted that this time, we also want to venture into that area to see how best we can contribute our quota to improving the housing stock in the country at affordable rates.

Housing deficit

Rough estimates of the countrys housing deficit stands at about 1.5 million units.

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Phastor to build 120 affordable housing units