UCC Signs MoU for US$500 Million Student Accommodation Project

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 is expected to be implemented under a 30-year Build-Operate-Transfer (BOT) arrangement, with 25 hectares of UCC land earmarked for the development. Under the proposed agreement, 28 dormitory blocks will be constructed over a five-year period. 

The development will also include 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 undertaken without direct state funding and without a sovereign guarantee from the government.

“This will be at no cost to the state, and the state will not provide any guarantee as a sovereign.” The minister, however, noted that the agreement is subject to several approvals before implementation can begin. These include clearance from Cabinet and Parliament, processes involving the Ministry of Finance, and a Value for Money assessment.

Mr. Iddrisu also urged the university to ensure that accommodation fees remain within the reach of students, particularly as the cost of private hostel accommodation continues to rise. “I have indicated to Professor Edo to remain within the limits of affordability for students.” The proposed facility is expected to help address the shortage of student accommodation affecting public universities, where demand for residential facilities continues to outstrip available capacity.

Under the BOT arrangement, GSC Property Investment Limited will finance, develop and operate the accommodation facilities for the agreed period. Ownership of the development will subsequently be transferred to UCC at the end of the concession period.

The university is expected to provide relevant data to support feasibility studies and the design process, subject to the completion of the required government approvals. The project forms part of broader efforts to expand student accommodation infrastructure and improve residential facilities for students at UCC and other public universities across the country.