NHA, Burkinabe Investors Discuss 50,000 Housing Units Investment

Mr. Zoungrana (L) and NHA Managing Director Siryon at the August 14, 2018, press conference in Monrovia.

The National Housing Authority (NHA) is in talks with Burkina Faso-based investment group GELPAZ IMMO SA, which is planning to build 50,000 housing units in the country.

A seven-member delegation for the company, led by its Chief Executive Officer (CEO) Alain Z. Zoungrana, arrived in the country Sunday, August 12, 2018, to “finalize agreement” with the Government of Liberia (GoL) through NHA.

“The Burkina Faso Company has made a proposal to assist government in constructing affordable housing units across the country,” NHA Managing Director, Duannah Siryon, told a news conference yesterday.

Mr. Siryon welcomed the company’s proposal, and said a team of officials from the NHA last week visited Burkina Faso, to access the company’s projects and to ensure that the company and its  source of funding is legitimate.

“Our delegation left from Liberia and went to Burkina Faso to do our due diligence to the negotiation. This is how come we saw the houses the company has constructed for the Burkinabe government and other West African countries,” Siryon said.

According to him, if finalized, the project will be decentralized and the housing units will be built in accordance with the Liberian standard presented to its management by the NHA.

CEO Zoungrana, speaking through an interpreter, said if the contract is signed between the company and the Liberian government, his company will work in accordance with the Liberian government’s request to them.

GELPAZ IMMO SA, a limited company, is a real estate and land development company established in 2009. It is involved primarily in the purchase and servicing of urban and rural lands, the construction of housing in Burkina Faso and the management of housing and real estate assets.

According to its website, the company works with technically qualified professionals in the areas of urban planning, architecture, topography and real estate.

“The main promoter of the company is Alain Z. Zoungrana, very active in the field of real estate expertise for more than 20 years. A graduate in real estate expertise from the Institute of Economic and Legal Studies applied to construction and housing (Paris – France), he has a very good knowledge of the problem of the real estate sector,” the company’s website states.


  1. Just want to know, who will own the housing units after they are constructed. Who will own the land? Will these units be for sale to the poor if they can afford them? GELPAZ IMMO-SA will be investing in the housing business, will that not leave us to believe that they will be the sole owner of these units? Will Liberian contractors be hired to do the construction or GELPAZ IMMO-SA will carry out the construction?

    Why couldn’t the NHA secured loans from some of the local banks to invest in the housing business since this is supposed to be their area?
    Ask government-owned entities like the National Social Security & Welfare Corporation, Liberia Petroleum & Refinery Corporation, the National Port Authority and the National Oil Company of Liberia to invest in areas (especially real estate) that will yield some return for their corporations rather than bringing in foreigners that will take away the money from the country. Don’t you think we can do it?

    NHA hire and empower Liberian businesses to do the construction, which in turn can hire Liberians. This will help reduce the unemployment rate in Liberia. This is helping the poor – pro-poor agenda by providing JOBS.

    Just my thought, ’cause I’m tired of living in West Point. Think about it Mr. Siryon.

  2. Now we need others to build low income housing in our own country.

    I remember Ghanaians refused similar project proposal in the early 2000’s by South Korean company to invest billions of US dollars in low income housing.

    Our so-called big people will take the brown envelope and swallow the bait hook,line and sinker.

    Stupid counrty!!!


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