Years into the construction of the National Cathedral, a realty company, Waterstone Realty Limited, has threatened to sue the government for its failure to compensate it after its office complex was forcibly demolished to make way for the project.
The officials of the company, whose patience seems to have completely run out, have indicated that they would be seeking US$67 million in compensation from the government for its disappointment in fulfilling its side of an agreement.
Speaking to Metro TV, Habibu Abdul Hafiz, the Lands and Estate Officer of Waterstone Realty, said that their issues started as far back as 2017 when their building was forcibly pulled down to make way for the construction of the national edifice.
He explained that although the government gave them another land, they are yet to gain access to it because it is currently being occupied by another company.
“Somewhere in 2020, the government allocated land to us at Ridge. We accepted the allocation and we paid all the administrative costs, but from that time up to now, we have not had access to the land which was allocated to us. We realized that there was an occupant on that land – it was occupied by a different company.
“We went to the Ministry of Works and Housing, telling them that we have not had access to the land because there was someone occupying the land and we (sic) the Ministry of Lands and Natural Resources, the Lands Commission, and then the Secretary of the National Cathedral… so, as we speak now, we are trying to discuss with our lawyers and then move to the next point which will be the legal recourse,” he explained.
Habibu Abdul Hafiz added that his company is now seeking $67 million from the government, putting into consideration the time that has elapsed, the economic challenges, and the increase in value of their building today.
“As of 2018, in fact, 2017, when the building was valued, it was said to be $4.7 million. Taking into consideration all the economic factors and what has happened over the five or four-year period, we should be looking at $67 million
He also stated that all their attempts to get the government to fulfill its promise to compensate them have proven futile.
It would be recalled that the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, first blew an alarm about the plans by Waterstone Realty to take on the government on this subject matter.
In his quest to expose the Nana Addo Dankwa Akufo-Addo-led government over some unconstitutional breaches regarding the building of the National Cathedral, he stated in June 2022 that they owed Waterstone Realty Ltd a compensation of $6.5million.
“Waterstone Realty Ltd had their high-rise commercial luxury apartments razed aground. Valuations indicate that they are entitled to some $6.5million in compensation. At today’s exchange rate, that is a staggering GH¢1.6million. Just imagine what GH¢51.6 million plus all the other demolishing compensation packages could do in this ailing economy,” he stated.
