Accra: The government has taken a significant step to revive the stalled Saglemi Housing project by selecting LMI Holdings, a Ghanaian business group, as the preferred developer to complete the development. According to Ghana Web, this decision followed the end of negotiations and the submission of a report by a government team responsible for evaluating potential developers.
The evaluation team included representatives from the Ministry of Works and Housing, the Office of the Attorney General and Ministry of Justice, the Ministry of Finance, and Deloitte, with technical evaluation support from the Ghana Institution of Surveyors. A statement from the Ministry of Works and Housing noted that bids from the Quarm-LMI Consortium and Broll Ghana Limited were shortlisted from an original pool of five bidders for further negotiations.
Broll Ghana Limited is a joint venture involving the Social Security and National Insurance Trust (SSNIT), SIC Insurance PLC, and the Broll Property Group (BPG), a South African property services company. Meanwhile, the Quarm-LMI Consortium consists of LMI Holdings, with interests in industrial park development and real estate, and Quarm, which specializes in logistics, utilities, and finance.
The chosen developer is expected to formally procure the completion of 1,506 housing units at Saglemi. These units are anticipated to be sold to the public, with salaried workers and workers' unions being the primary target market. The government shared an update on the Jubilee House Facebook page on August 20, 2026, revealing that LMI Holdings has pledged to complete the project.
LMI Holdings has committed to finishing the first 700 housing units under the revived Saglemi Housing Project by March 2027, with the first phase of 1,500 units projected for completion by December 2027. This commitment was underscored during President John Dramani Mahama's inspection of the Saglemi project in the Greater Accra Region on Thursday, August 20, 2026.
LMI Holdings is a diversified Ghanaian business group established in 1991, with interests in construction, industrial park development, real estate, logistics, utilities, and ICT. Led by Kojo Aduhene, who serves as Chairman and CEO, the company has significantly expanded its operations over the years into various sectors of Ghana's economy.
Aduhene, a Bachelor of Science degree holder in Civil Engineering from the University of Leeds, has extensive experience in the construction industry, having worked on major projects in the UK before returning to Ghana. Under his leadership, LMI Holdings has engaged in numerous infrastructure and industrial development projects, including fuel storage facilities, the Aboadze Thermal Plant, and the Asiama Substation.
The company has also played a vital role in the development of the Free Zones Enclave, attracting international companies such as Barry Callebaut and Cargill. LMI Holdings' infrastructure portfolio includes the establishment of the Enclave Power Company and a $70 million project for the Ghana Cocoa Board (COCOBOD). Their expansion into ICT through Datacom and investments in Atlantic Concrete in Takoradi further demonstrate their diversification.
LMI Holdings' involvement in the Saglemi Housing project places the company at the forefront of efforts to revive one of Ghana's long-stalled housing developments, aiming to bring 1,506 completed units to the market.