M a r k e t N e w s

Qatar seeks to construct major project in East Africa

Posted on : Tuesday, 2nd February 2016

Diversified Qatari real estate firm Ezdan Holding Group has announced its interest to enter the Ethiopian market with a proposed  mega tourist project in Ethiopia. The proposed 150,000m² resort construction project will features a high-quality technical specifications in terms of facilities and services which will contribute in raising the quality of real estate products available in the Ethiopian market.

Speaking during a meeting with Ethiopian prime minister Hailemariam Desalegan in the capital Doha, Chairman of Ezdan Holding Group Sheikh Dr Khalid bin Thani bin Abdullah Al Thani said the Group will intensify its investment plans in Ethiopia in the coming days. He added that  Ezdan, in cooperation with the municipality of Addis Ababa, will identify an appropriate location for the proposed resort.
On his part, Ethiopian Prime Minister hailed the strong relations between Qatar and Ethiopia at all levels. The meeting was attended by Ethiopian senior officials and Ethiopia’s Ambassador to Doha, Misganu Arga. The Qatari delegation included Qatar’s Ambassador to Ethiopia,Abdulaziz bin Sultan Al-Rumaihi, Ezdan Holding Group CEO, Ali Al Obaidli, SAK Holding Group CEO Hesham Al Sahtari, Ezdan Holding Group Board Member Ali Al Hashmi, Medicare Group CEO Khalid Al Emadi, Arab Engineering Bureau CEO Ibrahim Jaidah, Ezdan Holding Group’s Chairman Office General ManagervNusratAli Farooqi, and Ezdan Holding Group’s Director of Corporate Research & Analysis Mahmud Awada.
Growing at slightly over 10% economically, Ethiopia has emerged as one of the best investment destination for major global firms. The country has in recent times attracted funds from global financial institutions like the European Union and the World Bank to boost its roads in rural areas. Ethiopia is also constructing a major hydropower dam which upon completion will be the largest of its kind in Africa.
Recently, Ethiopia announced that it was planning to construct a multi-million dollar stadium in the capital Addis Ababa. Last year, it launched the construction of a major expressway aimed at easing traffic in the capital. Ethiopia believes that these and other projects will position the country as a major investment hub in the horn of Africa.

Source : constructionreviewonline.com
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