ADDIS ABABA- Addis Ababa city administrat signed memorandum of understanding with Wadi Al Sider Commercial Investment Liability Ltd company to construct 30, 000 cost-effective houses at 68.4hectares of lands in Akaki sub-city in the first round.
As to the information obtained from the Press secretary office of the city administration Deputy Mayor of the city Adenech Abeibei signed the agreement with the company through the support of UAE government via video conference.
On the event Adenech said that city administration has been setting and implementing different alternative strategies to solve the housing problem of the residents. As to her, participating the foreign investors to construct cost-effective condominium houses within a short period of time is one alternative among the set alternatives.
Concurrently the city administration planned to construct one million houses in the coming five years to solve the housing problem of mass number of the residents. She underscored that city administration has been working to participate another two international construction and housing companies on housing project.
She stressed that the coming of these international companies is helpful to afford financial service, technological transition and provide experiences. She noted that city administration constructed and transferred 300 thousand houses in the past 16 years and it has been undertaking the construction of 139 thousand houses.
BY TAMERU REGASA