UCC gets $500m PPP hostel deal
The University of Cape Coast (UCC) is to benefit from a US$500 million private-sector investment to construct 28 hostel blocks with capacity to accommodate up to 28,000 students under a Public-Private Partnership (PPP) arrangement. The project, being undertaken by GSC Property Investment, is expected to be completed within five years at no direct cost to … The post UCC gets $500m PPP hostel deal…
The University of Cape Coast (UCC) will receive a $500 million private investment to build 28 hostel blocks, capable of housing up to 28,000 students, through a Public-Private Partnership (PPP) arrangement. The project, led by GSC Property Investment, is projected to be finished within five years, without any direct expenses to the government. Following the completion, the facilities will be handed over to UCC.
Education Minister Haruna Iddrisu announced the project during a press conference in Accra, describing it as a response to the severe accommodation shortage at UCC and a way to lessen the financial strain on students relying on private accommodations. The complex will also feature a commercial center, catering facility, entertainment and cinema venue, student activity center, parking areas, and ancillary infrastructure.
UCC's Vice-Chancellor, Prof. Denis Worlanyo Aheto, hailed the project as a significant milestone for the institution, which has been grappling with accommodation issues. He indicated that the project has the full support of the university's Governing Council and aligns with the government's PPP policy. Prof. Aheto expressed optimism that, with state backing, the university would complete the requisite procedures and kick off the project by January 2027.
He emphasized that the interim period would be devoted to conducting feasibility studies and fulfilling regulatory requirements, including obtaining approval from the Ministry of Finance.
GSC Property Investment's Managing Director, Dr. Steven Xiao, expressed confidence in the company's capacity to deliver the hostel project within the stipulated timeframe. The company has been engaged with UCC's team for approximately a year, resulting in substantial progress towards the project. Dr. Xiao highlighted the discussions as fruitful and noted that both parties are making significant advancements.
While the project is still in its early stages, Dr. Xiao pledged the company's commitment to constructing the hostel facilities for UCC.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
