- Noah Real Estate delivers 750 units
ADDIS ABABA – The government is intensifying efforts to address Addis Ababa’s housing shortage by introducing legal frameworks that promote both public and private investments, Deputy Mayor Jantirar Abay announced during the launch of new residential units by Noah Real Estate.
Jantirar emphasized that the reforms, including recent macroeconomic adjustments, are part of a broader strategy to foster holistic development. Addis Ababa, now open to joint ventures, aims to improve resource utilization, accelerate structural transformation, and tackle development bottlenecks.
“As the third international diplomatic hub and seat of the African Union, Addis Ababa needs rapid growth to meet its governance, employment, and infrastructure demands,” the Deputy Mayor said.
He acknowledged that despite continuous government efforts, demand for housing has outpaced results. To bridge the gap, the city is creating a favorable environment for private companies and public-private ventures to expand housing projects.
Among the key players is Noah Real Estate, which has constructed approximately 10,000 homes over the past decade. On Saturday, the company handed over more than 750 residential apartments with two- and three-bedroom units, along with 32 villas and 45 commercial shops. The properties feature amenities such as a swimming pool, groundwater systems, and sports facilities.
Noah Real Estate’s Founder and CEO, Theodros Zerihun, shared that the company recently delivered 900 additional units and plans to launch construction of over 5,000 new homes next month. “In the last decade, we’ve delivered over 9,800 homes and commercial spaces to more than 25,000 buyers,” Theodros said, reaffirming the company’s commitment to meeting Addis Ababa’s growing housing demands.
The Deputy Mayor praised Noah Real Estate’s efforts, noting that the newly inaugurated apartments and commercial buildings meet the city’s standards and mark a significant step toward alleviating the capital’s housing challenges.
BY YOHANES JEMANEH
THE ETHIOPIAN HERALD SUNDAY EDITION 27 OCTOBER 2024
