Addis Ababa, May 20, 2021 (FBC) –The Addis Ababa city administration has signed a memorandum of understanding (MoU) with Wadi Al Sider Commercial Investment Liability Limited for the construction of condominium houses.
According to the MoU, the Wadi Al Sider will build 30,000 cost-effective houses in Akaki sub-city in the first round with support from UAE, according to the Addis Ababa City Press Secretary Office.
The agreement was signed by Deputy Mayor of Addis Ababa city, Adanech Abiebie and representatives of the company via a video conference, the office added.
Adanech on the occasion said the city administration has been implementing various housing-schemes to address the housing problems in the city.
She said the city administration planned to build more than one million cost-effective houses over the coming five years in joint venture with local and foreign firms.
The administration built more than 300,000 condominium houses in the past 16 years. The construction of additional 139,000 houses is also underway in the city, she added.