- Aims to boost Ethiopia’s urban living, local production
ADDIS ABABA–The Federal Housing Corporation (FHC) inaugurated newly constructed, modern housing complexes yesterday in Kokebe Tsibah and Misrak Atekaly areas, combining residential and commercial spaces to meet contemporary urban demands.
The KokebeTsibah complex, a 2B+G+10-story building, offers two to four-bedroom units along with dedicated commercial spaces. Near Misrak Polytechnic College, the MisrakAtekaly complex includes two blocks with similar layouts, providing one to four-bedroom units up to 218 square meters and additional commercial spaces.
FHC also launched a new Construction Materials Manufacturing Center in Akaki Kality, Gelan area, designed to reduce Ethiopia’s dependence on imported building materials. Built in less than a year using self-financed funds totaling one billion Birr, the center will produce blocks, tiles, concrete, and terrazzo for the local market.
“This center will enable the construction sector to access high-quality, locally produced materials, easing foreign currency costs and stabilizing the market,” said FHC CEO Reshad Kemal at the inauguration.
The construction materials plant, operating at an 8-hour daily capacity, is projected to generate over two billion Birr annually through sales. Additionally, FHC inaugurated two residential buildings, each with 13 floors, constructed by Mescon Construction, offering units from one to four bedrooms.
Head of the Office of the Prime Minister and Chair of FHC’s Management Board Alemtsehay Paulos highlighted FHC’s role in expanding development projects at 15 sites and contributing significantly to Ethiopia’s economic growth. “This initiative not only meets housing needs but also strengthens the country’s construction industry, transforming resources into profitable and productive assets,” she noted.
High-ranking officials, including Finance State Minister Eyob Tekalign (PhD), attended the inauguration alongside FHC executives, underscoring the project’s importance for Ethiopia’s housing and construction sectors.
The Federal Housing Corporation (FHC) is a government agency in Ethiopia responsible for the development, management, and leasing of urban housing and commercial properties. Established to address the growing demand for housing and support urbanization goals, the corporation oversees large-scale housing projects and commercial complexes, primarily in Addis Ababa.
BY MISGANAW ASNAKE
The Ethiopian Herald November 3/2024
