Ezdan plans multi-purpose project in Addis Ababa
18 May 2017 - 0:07
Ezdan Holding Group has signed a Memorandum of Understanding (MoU) with a high-level Ethiopian delegation to launch a multi-purpose real estate project in Addis Ababa, capital of Ethiopia.
The project, which will be located in a vital area in the heart of Addis Ababa spreading over 60,000sqm of land, includes a five-star hotel in addition to other vital facilities, such as a convention centre, a tower of hotel apartments and offices, a variety of retail outlets, modern restaurants and cafes.
The MoU was signed following a series of visits and meetings between Chairman of Ezdan Holding Group Sheikh Dr Khalid bin Thani bin Abdullah Al Thani and the Prime Minister of Ethiopia and other representatives.
The meeting with the Ethiopian delegation was also attended by Ezdan Vice-Chairman Sheikh Abdullah bin Thani Al Thani, and Group CEO Ali Mohamed Al Obaidli.
The Ethiopian side was led by Mayor of Addis Ababa, Deribaa Kuma. The Ethiopian delegation included Minister of Communications Affairs Dr Negeri Lencho, Ambassador of Ethiopia to Doha, Mesganu Arga Moach, and Director of Middle East Affairs Directorate General, Ministry of Foreign Affairs of Ethiopia, Suleiman Dedefo, accompanied by a number of senior Ethiopian officials and dignitaries.
Emir H H Sheikh Tamim bin Hamad Al Thani recently made an official visit to Ethiopia to strengthen bilateral relations in various fields, including enhancing cooperation in the fields of trade and economy.
The visit tackled means of encouraging the private sector in both countries. The Emir emphasised on the need to create jobs for young people by launching a loan portfolio to finance small and medium enterprises.
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.
Cooperation between the two countries is growing steadily, and analysts suggest 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.
On the occasion Sheikh Khalid, 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.”
He 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 realise this joint cooperation.”