Addis Ababa Approves Largest Private Housing Project to Address Housing Demand

Addis Ababa's City Administration approved a 450 billion birr housing development by Ovid Group through a 70/30 public-private partnership model. The project will construct 60,000 units in Bole Bulbula, with the developer retaining 70 percent of units for commercial sale while transferring 30 percent to the government for low-income residents. The initiative addresses a critical shortage, as the administration has registered over one million applicants but delivered only about 200,000 units in the previous 13 years.