imported 2024-03-17 17:43:07
Slated for completion in 2017, the Empire World development is the largest development in Iraq and represents a $2.3 billion investment in the future of the high-economic growth autonomous Kurdistan region in northern Iraq.
Top Real Estate Companies in Ethiopia
Following the high demand for the housing and the rise of the middle class in Ethiopia, the real estate sector is now flourishing more than ever. During the last decade, more than 200 new real estate developers have emerged. The following real estate players represent the top real estate companies in Ethiopia, among them GIFT Real Estate and Flintstone Engineering, two well-known and well-established real estate companies in the country.
GIFT Real Estate
GIFT Real Estate has been present in the real estate market for a decade and has established itself as one of the most popular real estate developers in the country. GIFT Real Estate is currently working on a project in the east of Addis where the company is building villa houses, townhouses and apartment houses for their clients.
Flintstone Engineering
Flintstone Engineering has been involved in the construction sector in Ethiopia since 1991 and recently joined the real estate sector (Flintstone Homes). Within those five years Flintstone Engineering grew into one of the top real estate developers in Ethiopia.
Ayat Real Estate
Ayat Real Estate is another key real estate developers in Addis Ababa. There is an area in Addis called Ayat following the development of a large number of real estate properties in that specific area.
Habitat Real Estate
Habitat Real Estate was the first one to introduce real estate development in Ethiopia, when it receiving a large plot of land during the socialist regime of Dergue.
“H.E.C Holding has been in business since 1959. When the younger generation took over ten years ago, it was changed into a corporate company, an S.A.L, and we created the holding arm.”
Gebreyesus Igata from GIFT Real Estate claims it is high time for investors to come and take part on the real estate developments in Ethiopia; the demand is there.
70% of the land acquired by GIFT Real Estate in eastern Addis Ababa is already developped.
Sky Gate will be the highest building in Beirut. It has been structurally completed and it will be delivered in the later part of this year. It is going to be the most luxurious building in Lebanon if not in the Middle East.
Gebreyesus Igata, Owner and General Manager of GIFT Real Estate Company
GIFT Real Estate Company was established 9 year ago and is currently developing 160,000 square meters of land in the eastern part of Addis Ababa. The project entails construction of villa houses, townhoses and different apartment houses. While 70% of the are has already been developed, Mr Igata expects to develop the rest within the next three years.
Empire World’s Marriott Hotel will be a unique hotel catering for needs of all visitors of Erbil, including business travelers. Peshraw Majid Agha has a positive outlook for the real estate in Erbil, which is now one of the most important cities in Iraq for businesses. The prices in Erbil are increasing and investments are flowing into the region at a substantial rate. Peshraw Majid Agha also discusses the other divisions of Falcon Group: Falcon Oil & Gas and Falcon Security.
Ethiopia Top Stories
Real estate in Ethiopia growing by 25% | Role of private real estate companies in Ethiopia
The increasing number of emerging middle incomers has increased the demand for real estate development. A 2010 study by the Africa Development Bank shows that Africa’s middle class has increased to 34%, an increase of 27% from the 1980s, and Ethiopia is not considered to be an exception. Given that the government cannot address the need for the increasing demand for real estate on its own, it allowed a number of local private investors to become the major actors in the development of real estate in Ethiopia.
Karim Ibrahim gives his assessment on the real estate sector in Ghana from a foreigner’s point of view and mentions some of his projects. One of them is The Octagon, a business center currently under construction, located in the heart of Accra Central.
