The Ethiopian Construction Works Corporation revealed that it was prepared to engage in the real estate sector in addition to its housing development program.

The Corporation is currently carrying out Addis Ababa City Administration’s housing renovation program and has also entered an agreement with the Administration for the construction of 10,000 houses which, according to the Corporation, will be completed within 2 years.

According to Yonas Ayalew, CEO of the corporation, practices that invite fast and cost-effective technologies which enhance private sector partnerships should be implemented in order to offset the gap between the demand and supply of housing.

The Corporation has a factory that produces prefabricated building materials and continues the expansion of the manufacturing industry for these materials as it plans to enter the country’s housing development program on a large scale, it was learnt.

The CEO also stated that agreements were being concluded with foreign companies to apply new construction technologies and manufacture locally.

Source: Fana BC