Addis Ababa, Ethiopia (16 March 2023)
The Addis Ababa city administration has signed an agreement with developers to build 100,000 houses in a bid to address the housing shortage in the city. The 70/30 housing development program is a partnership between the government and the private sector. The mayor stated that various housing development options have been implemented to match the housing demand and supply. The program aims to establish a legal framework and institutional arrangements by discussing with investors to ensure success.
Out of 150 proposals, 68 developers were selected based on clear criteria set by the committees from the government and the private sector. The city administration provides free land for home development, and the mayor announced that the base infrastructure will also be completed. 350 hectares of land are ready for construction.
Developers signed in the first round have requested to develop more than 1,000 houses on average, and it is expected that they will complete the construction within 2 years. The partnership between the government and private sector is expected to provide affordable housing options for the people of Addis Ababa.
Source: Addis Maleda
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