ADDIS ABABA—The 60,000 Housing project will be constructed by the PLC- Ovid Group with 70/30 program agreement here in the metropolis.
The announcement came after Addis Ababa City Administration Mayor Adanech Abiebie launched the construction of the houses yesterday.
Speaking at the groundbreaking ceremony, Mayor Adanech said that the housing project is going to be constructed on 558 hectare land around Kaliti area of the city, other social service infrastructure will be put in place at the vicinity of the houses.
“The construction of 60,000 houses and schools, commercial centers, health facilities, and greenery will create jobs for close to 250,000 citizens. Residents around the area are said to be the primary beneficial out of this opportunity. Thus, the residents need to understand the development and life changing potential of this project and to engage positively in the construction process,” she stated on her X post.
The City Administration will conduct serious follow-up on the project to accomplish all targets as per the schedule, according to her. Over 200,000 residential houses have been inaugurated during the past six years, she indicated.
She also called upon private developers to highly engage in investing as the house demand in the city is unsatisfied. The government allows private developers to fund and invest under 70/30 program.
Developers can supply 70 percent of housing units for sale and the rest 30 percent for government. Ovid Group founder and CEO, Yonas Tadesse, on his part, said that the project will create about 250,000 direct jobs “This project is beyond the ordinary housing schemes…it employs international quality standards. The housing Project will be accomplished in three years long construction phases,” The Ethiopian Herald learnt.
BY STAFF REPORTER
The Ethiopian Herald April 3/2024
