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 undertaken under a 30-year Build-Operate-Transfer (BOT) arrangement, with 25 hectares of UCC land allocated for the development.
The planned facility will comprise 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 ceremony, Education Minister Haruna Iddrisu said the project would be implemented without direct state funding or a sovereign guarantee.
He, however, stressed that the agreement is subject to the necessary government approvals.
These include Cabinet and Parliamentary approval, the required processes at the Ministry of Finance and a Value for Money assessment.
Mr Iddrisu said the project forms part of efforts to address the persistent accommodation challenges facing public universities, particularly as demand for student housing continues to increase.
He also urged UCC and the project partners to ensure that accommodation fees remain affordable for students.
The Minister expressed concern about the rising cost of private hostel facilities and said affordability must remain a key consideration in the implementation of the project.
He further encouraged other public universities to explore similar public-private partnership arrangements to expand student accommodation without placing a direct financial burden on the state.
The UCC project is expected to provide significant additional accommodation capacity for students while also creating commercial and recreational facilities within the university community.
Under the BOT arrangement, the private partner will develop and operate the facility for the agreed concession period before the project is transferred to the university.
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