Good news for the Togolese workers. The Government has launched the building of a social housing project. An agreement was signed on Friday, 23rd January between the Togolese government and the Ivorian real estate development company (SIPIM) that will perform the work. A total of 1000 social housing will be built in the framework of this experimental project called “Cité Mokpokpo» (Hope).
Adidogomé, the Northwest suburb of Lomé will host 420 houses and 120 apartments on a surface of 12.5 hectares. The new estate will also have a school and green spaces. For the moment, only State officials (grades A1, A2 and B) will benefit from this project.
The housing will cost between 7 million and 17 million FCFA. According to Republic Of Togo, the acquisition will be done via real property loans over 15 or 20 years with reasonable interest rates. No initial contribution will be requested, said the Minister of economy and finance, Adji Oteth Ayassor. Orabank, Banque Atlantique and BIA are already committed to give financing to individuals.
Original text by: Roger ADZAFO