The University of Cape Coast (UCC) has signed a Memorandum of Understanding (MoU) with GSC Property Investment Limited for the development of a 28,000-bed student accommodation facility estimated at US$500 million.
The project will be implemented under a 30-year Build-Operate-Transfer (BOT) arrangement, with 25 hectares of UCC land earmarked for the development.
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The project will include 28 dormitory blocks, commercial and catering centres, an entertainment and cinema centre, student activity facilities, parking spaces and other supporting infrastructure.
Speaking after witnessing the signing, the Minister for Education, Hon. Haruna Iddrisu, said the project would not require direct state funding or a sovereign guarantee.
He, however, noted that the agreement remains subject to the necessary government approvals, including Cabinet and Parliamentary approval, Ministry of Finance processes and a Value for Money assessment.
The Minister also urged UCC to ensure that accommodation fees remain affordable for students, particularly in view of the rising cost of private hostel facilities.
He said the initiative could help address accommodation challenges facing public universities and encouraged other institutions to explore similar public-private partnership arrangements.
