The University of Cape Coast (UCC) is to benefit from a US$500 million private-sector investment to construct 28 hostel blocks with capacity to accommodate up to 28,000 students under a Public-Private Partnership (PPP) arrangement.

The project, being undertaken by GSC Property Investment, is expected to be completed within five years at no direct cost to the state.

The facilities will eventually be transferred to the university after the agreed concession period.

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Addressing the press in Accra yesterday, the Minister of Education, Mr Haruna Iddrisu, said the project formed part of efforts to address the acute accommodation deficit at UCC and reduce the burden on students who depended on private accommodation around the university.

He said the project would also include a commercial centre, catering centre, entertainment and cinema centre, student activity centre, parking facilities and other supporting infrastructure.

Mr Iddrisu said the university would provide the investor with relevant data to support feasibility studies and the design of the project, subject to government approval.

He urged other public universities to explore similar PPP arrangements to expand infrastructure, increase access to higher education and support teaching, innovation and research.

The Minister assured that the government would ensure that accommodation charges under the arrangement remained within the affordability limits of students.

The Vice-Chancellor of UCC, Prof. Denis Worlanyo Aheto, described the project as a major breakthrough for the university, which is facing serious accommodation challenges.

He said the initiative had the strong backing of the university's Governing Council and was in line with the government's policy on PPPs.

Prof. Aheto expressed the hope that, with government support, the university would complete the necessary processes and commence the project by January 2027.

He said the period leading to the end of 2026 would be used to undertake feasibility studies and complete other regulatory requirements, including securing approval from the Ministry of Finance.

Prof. Aheto expressed appreciation to the Minister of Education for supporting the initiative and providing the opportunity for the university to pursue the project.

The Managing Director of GSC Property Investment, Dr Steven Xiao, expressed confidence in the company's ability to deliver the hostel project within the proposed timeframe.

He said the company had been in discussions with the UCC professional team for almost a year, resulting in significant progress towards the project.

Dr Xiao described the engagement as productive and said it had enabled both sides to make good progress.

Although the project was still at its initial stage, he said the company was committed to fulfilling its responsibility to construct the hostel facilities for UCC.