A foundation stone has been laid for Amibara properties, a city centre project, which would be developed by Afar investors at a cost of 11 billion birr.
The development will be undertaken on area of 50,000 square meters around Gotera and comprises over 450 residences, commercial centres, hotels, retail outlets and recreation facilities as well as green area and Afar cultural centres.
The project will create permanent and causal job opportunities for more than 10,000 unemployed residents, mostly the youth, it was noted at the groundbreaking ceremony.
Speaking on the occasion, Deputy Mayor of Addis Ababa city, Engineer Takele Uma, said the city administration would join efforts with other investors to address the housing problem in the capital city.
He also pledged that the city administration would provide all the needed support for the project’s success.
Present at the groundbreaking ceremony were also Engineer Aisha Mohammed, Minister of Construction and Urban Development, and other invited guests.
According to the Mayor Office, the city administration will launch soon eight similar projects in partnership with local investors, in addition to the two housing projects by UAE and Chinese companies.