The Gift Real Estate held a launching event where it announced preparations for 4,000 housing units under the public-private partnership program around La Gare in Addis Ababa.
Gift Real Estate CEO, Mr. G/Yesus Igata, and Addis Ababa Housing Development Corporation G/manager, Mr. Shimelis Tamrat, signed the agreement.
According to the agreement, in the first phase of 3 thousand 540 residential houses, 460 multi-purpose houses used for shops, schools and other services will be built.
The houses will be built and completed within three years and handed over to residents.
In his remarks on the launch event, The Gift Real Estate CEO, Mr. G/Yesus Igata, stated that the housing scheme is associated with the primary interest of the people.
Mr. G/Yesus added that the construction will create direct employment opportunities for youths in Addis Ababa.
Gift Real Estate is taking on responsibilities in construction, financing, and operation, thereby alleviating the public sector’s burden, said the CEO.
In future agreements, Gift Real Estate is making preparations to develop up to 8,000 more houses in the coming three years.
