Gift Real Estate kicks off contemporary, smart residential and commercial apartment villages in the heart of Addis Ababa

Gift Real Estate, with a track record of more than two decades of building contemporary residential villas, is currently preparing to colorfully inaugurate the high-rise modern residential and commercial apartment buildings at Feres Bet in the environs of CMC.

Based on its rich experience, Gift Real Estate has signed an agreement with the Addis Ababa City Administration to build 12000 houses: the first of its kind that brings real estate and government within the frame work of public-private partnership housing development program(PPP).

The launching ceremony for the construction of the first phase of residential and commercial houses of the PPP is to be held officially on Saturday the 27th of April, 2024, in the presence of senior government officials, and other invited guests.

The construction of the first phase of the Gift Real Estate’s Legehar residential and commercial village project is to be completed within three years.

It will include close to 4000 residential houses, shops, schools and other social and community facilities that will be built with the support of the state-of-the-arts technology.

The first phase residential and commercial apartments will have 17 blocks of 14 to 22 floors in height with the necessary facilities and amenities.  

Gift Real Estate, together with its sister companies and international and national partners, will provide design, technology and finance for an additional 8,000 houses and commercial centers that will be built in the second phase, once the first phase of the construction is completed. Preparation is in progress to this end.

The project is intended to address the housing shortage in the city by availing modern residential and commercial facilities. It also creates job opportunities for many citizens.

This is a residential area to be built in the heart of our city. It will be a contemporary Gift Real Estate village with a vibrant metropolitan atmosphere.

Leave a Comment

Your email address will not be published. Required fields are marked *