NMC Real Estate, a relatively new player in the housing development industry in Ethiopia, has started a construction project to build 600 houses.

The project, located in front of Tulu Dimtu, Aqaqi-Qaliti Sub City, will have a total area of 35,000 square meters and will include 30 G plus 2 villas and 14 apartments with 12 stories. The estimated cost of the project is Birr 8.5 billion, and it is expected to be completed within two years with the help of Chinese contractor Huahong Construction.

During a recent press conference, NMC Real Estate representatives stated that the company plans to have similar projects in other cities in the country.

The Ethiopian government has projected the construction of about 4.4 million houses in 10 years, with the private sector handling around 80% of the stake.

Source: Capital Ethiopia