Gift Real Estate handed more than 350 houses that are worth over 850 million Birr to their respective buyers. The houses all vary in type and they are built on a 90,229 square meters of land. The houses built are villas, townhouses, apartments and row houses.

It was President Mulatu Teshome that inaugurated the houses. Speaking at the event, the President noted the government had built houses for hundreds of thousands of low and medium income families under housing development program.

Other than this program, the government encourages the establishment of real estate companies which will enable persons with high income to own houses. The houses constructed by Gift Real Estate were parts and parcel of this endeavor, the President noted.

The government would continue to support real estate companies, Mulatu added.

Speaking on his part, Gift’s Managing Director, Gebreyesus Igata, said his company had been undertaking construction of similar houses.

Source: Ethiopian News Agency