Huda Real Estate, a subsidiary company of MIDROC Investment Group, has unveiled a 50 billion Birr real estate development project in Addis Abeba in Mechare Meda near Sar Bet.
The massive real estate development project includes the construction of Queens Supermarket, apartments, shopping mall, hotel, villas, and pedestrian ways, among others.
The village dubbed “Mohammedia Village” will be constructed on over 250,000 square meters of land and the construction project is expected to be completed within 5 to 7 years.
Adanech Abiebie, Mayor of Addis Abeba joined Jemal Ahmed, CEO of MIDROC Investment Group, Dereje Assefa, Managing Director of Zias Architecture and Engineering PLC and other project partners to lay a corner stone at Mecharie Meda.
Adanech said that the government cannot ensure national development without the participation of the private sector. She also raised the importance of public-private partnership (PPP) to expedite development goals.
She also pledged to back the project until final stage.
Zias Architecture and Engineering PLC’s Managing Director also pledged to finalize the project within the project time-frame.
Jemal on his part expressed that the government has provided a significant backing to launch the project within a short period.
MIDROC Investment Group is the largest business entity in Ethiopia operating as part of the global MIDROC International owned by the internationally acclaimed entrepreneur Sheikh Mohammed Hussein Ali Al-Amoudi. MIDROC- Mohammed International Development Research and Organization Companies, engaged in multifaceted business ventures, are operating in Africa, Europe, the Middle East and the United States of America, according to company’s website.