ADDIS ABABA — The Ethiopian government has reiterated its dedication to enhancing the nation’s housing sector by fostering partnerships with private companies. This commitment was highlighted during the inauguration of a new housing project by Gift Real Estate in Addis Ababa, which serves as a model for successful government-private sector collaboration.
According to Ethiopian News Agency, who spoke at the event alongside Deputy Mayor of Addis Ababa, Jantirar Abay, and executives from Gift Real Estate, this partnership underscores the government’s strategy to integrate sustainable practices into urban development. The minister praised the comprehensive development approach that balances growth with sustainability, emphasizing the essential role of public-private partnerships in achieving these goals.
The ceremony marked the opening of Gift Real Estate’s latest project, a 54,000-square-meter modern village in the Lemi Kura area, which represents the company’s third major initiative following successful developments in Yeka and CMC. Minister Chaltu expressed confidence in the continuous enhancement of collaborative efforts to solve the housing shortage facing many Ethiopians.
In her address, Chaltu extended a call to both domestic and international investors to engage more deeply in the Ethiopian housing market, promising increased government support for the construction sector. She highlighted the dual strategy of boosting local production capabilities and adopting modern technologies to mitigate the rising costs of construction materials, aiming to ensure the sustainable growth of the sector.
Gift Real Estate’s CEO, Gebreyesus Igata, also spoke, detailing the company’s 30-year history in the industry and its commitment to building community-centric developments. The new village, featuring a variety of housing options including apartments, villas, and townhouses, along with shops and services, exemplifies Gift Real Estate’s approach to creating environments that blend modern amenities with traditional Ethiopian social values.
The event showcased the vibrant designs and innovative architecture of the new village, symbolizing a collective effort towards a prosperous and sustainable urban future in Ethiopia.