A Korean construction company has sealed a huge contract to build houses with Ghana's government in a new twist on resource trades
Accra is leading the way forward on housing development, bringing
in South Korean company STX Group to build 200,000 housing units
over the next five years at a cost of US$10 billion. With Seoul's
support, South Korean companies are increasingly taking their
contracting prowess abroad, utilising low costs and high technology
in conjunction with face-time with African leaders. While the
real estate deal signed on 8 December could bring a sea change
to housing provision in Africa, the nature of the financing has
some worried....
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