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Construction and development of real estate in Addis Ababa is flourishing on the back of infrastructure expenditure on road network improvements. High-rise, mixed-use buildings across the city have been delivered along main arterial routes. Besides the notable growth and significantly improved business environment, Addis Ababa continues to be a relatively closed market to non-Ethiopians. Foreign entities are only allowed to develop and construct property with heightened activity from Chinese firms in this space.
The real estate sector can play a pivotal role in the success and future growth of the city, but that will require the country's policies to be more accommodating for foreign real estate investment and ownership.
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13 June 2016