Ethiopia: Ezdan Signed MoU with Ethiopian Officials

EzdanFollowing a series of visits and meetings between Chairman of Ezdan Holding Group HE Dr. Khalid Bin Thani Bin Abdullah Al Thani and HE the Prime Minister of Ethiopia and other representatives, Ezdan Holding Group has signed a Memorandum of Understanding (MoU) with a high-level Ethiopian delegation at its headquarters in Ezdan Towers in Doha, yesterday morning.

The meeting came in the framework of accelerating business to launch a multi-purpose real estate project in Addis Ababa, capital of Ethiopia. The meeting was attended by Chairman of Ezdan Holding Group H.E. Dr. Khalid Bin Thani Bin Abdullah Al Thani, Ezdan Vice Chairman H.E. Sheikh Abdullah bin Thani Al Thani, and Group CEO Mr. Ali Mohamed Al Obaidli. Led by Mayor of Addis Ababa HE Deribaa Kuma, The Ethiopian delegation included Minister of Communications Affairs Dr. Negeri Lencho, Ambassador of Federal Democratic Republic of Ethiopia to Doha HE Mesganu Arga Moach, and Director of Middle East Affairs Directorate General, Ministry of Foreign Affairs of the FDR Ethiopia Mr. Suleiman Dedefo, accompanied by a number of senior Ethiopian officials and dignitaries. An official visit to strengthen bilateral relations in various fields His Highness Sheikh Tamim bin Hamad Al-Thani, the Emir of Qatar, has recently visited Ethiopia, where bilateral talks were held on enhancing cooperation in the fields of trade and economy.

The visit tackled means of encouraging the private sector in both countries. HH The Emir emphasized on the need to create jobs for young people by launching a loan portfolio to finance small and medium enterprises.

HH The Emir's visit to Ethiopia was a very important step in strengthening the bilateral relations between Doha and Addis Ababa. It paved the way for new and strong prospects for bilateral cooperation between Qatar and Ethiopia in the political, economic and investment fields, among others.

The talks also stressed on the ways to push forward agreements between the two countries. It is worth to mention that cooperation between the two countries is growing steadily, as analysts expected that investments will surge in the coming period especially that the Ethiopian market is huge and very promising in various fields.

Ethiopia is an important investment destination in Africa, where there are many major investment opportunities. Flourishing relationships The project, which is located in a vital area in the heart of Addis Ababa spreading over 60,000 sqm of land, includes a five-star hotel in addition to other vital facilities such as a convention center, a tower of hotel apartments and offices, a variety of retail outlets, modern restaurants and cafes.

For his part, H.E. Dr. Khalid Bin Thani Al-Thani, said: "The project aims to support the economic growth movement in Addis Ababa, which is expected to be very active during the coming period, particularly in real estate sector. We are optimistic that our first investment experience in Ethiopia will be a significant success, through which we seek to consolidate bilateral economic relations and cooperation with the Ethiopian counterpart. In addition, we are keen to make use of Ezdan Holding Group long experience to boost the tourism sector. “ H.E. added:”We have prepared a thorough study of the project in terms of its economic feasibility, location and uses. We expect this project to be completed as soon as possible in light of the swift response from the Ethiopian side in facilitating the procedures and overcoming challenges that may face the implementation of the project. What is expressively commended is the exceptional flexibility we have witnessed in order to realize this joint cooperation.”

Source: Ezdan Press Release

Exchange Rates

Selling Buying
USD US 23.6297  23.1664 
EUR EU 27.2616  26.7271 
GBP UK 30.8037  30.1997 
CAD CA 18.7523  18.3846 
AED UAE 6.433  6.3069