21-tower scheme to be Ethiopia’s ‘biggest real estate project’ says Chinese developer
10 June 2015 | By Rod Sweet
A Chinese developer says it will build a 21-tower development that will “change the face” of the Ethiopian capital, Addis Ababa.
The news comes in a period of high growth for Africa’s second most populous country, whose government has just proposed a budget that is 20% higher than last year to fund development.
The scheme will cost $194m (4bn birr), and each of the 21 towers will have more than 20 storeys, Ethiopian News Agency (ENA) reported.
On its website, developer Sinomark Real Estate says the scheme, called Royal Garden, will be the “biggest real estate project in Ethiopia”, and will provide “quality, luxurious and affordable” homes for Ethiopians.
Built with help from Ethiopian firm Saba Engineering, Royal Garden will have swimming pools, sport centres, and a commercial zone, ENA reported.
It will be built at Gotera, a district approximately one kilometre from Bole International Airport, which is undergoing a major expansion, with a new passenger terminal and Africa’s biggest air cargo hub planned.
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