Ezdan set to launch Ethiopia realty project in Addis Ababa

Ezdan Holding is all set to launch its maiden multi-purpose real estate project in Addis Ababa, capital of Ethiopia, as part of its efforts to strengthen its foothold in the overseas markets.
“We have prepared a thorough study of the project in terms of its economic feasibility, location and uses. We expect this project to be completed as soon as possible in light of the swift response from the Ethiopian side in facilitating the procedures,” Ezdan Holding Group chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani said.
In this regard, Ezdan Holding yesterday signed a memorandum of understanding (MoU) with a high-level Ethiopian delegation at its headquarters in Ezdan Towers in Doha. The meeting was attended by Ezdan vice chairman Sheikh Abdullah bin Thani al-Thani, and group chief executive Ali Mohamed al-Obaidli, while the Ethiopian delegation included Addis Ababa mayor Deribaa Kuma; Minister of Communications Affairs Dr Negeri Lencho; ambassador of Ethiopia to Qatar Mesganu Arga Moach; and director of Middle East Affairs (directorate general, Ministry of Foreign Affairs of Ethiopia) Suleiman Dedefo.
The proposed 60,000 sqm project includes a five-star hotel, a convention centre, a tower of hotel apartments and offices, variety of retail outlets, modern restaurants and cafes. However, further details regarding the cost of the project and the date of completion were not disclosed.
The project aims to support economic growth in Addis Ababa, which is expected to be very active during the coming period, particularly in the real estate sector, Dr Khalid said, adding the group is optimistic on its first investment in Ethiopia, which would be a “significant” success, through which both the countries could seek to consolidate bilateral economic relations and cooperation.
“We are keen to make use of Ezdan Holding Group’s long experience to boost the tourism sector,” he said about prospects in Ethiopia, which is an important investment destination in Africa.
HH the Emir Sheikh Tamim bin Hamad al-Thani had recently visited Ethiopia, where bilateral talks were held on enhancing cooperation in the fields of trade and economy.
The cooperation between the two countries is growing steadily, as analysts expect that investments would surge in the coming period.