Real estate developer
Al-Sam Properties, also called Alsam Real Estate, is part of the Al-Sam group founded by Sabir Argaw. It builds high-rise apartments around Mexico Square and Lideta, plus projects in Kazanchis and Bole. Its first large complex has four towers and about 360 apartments. Its office is next to the Chelelek Al-Sam Building at Mexico.
Completed · Lideta, Addis Ababa
Four-tower apartment complex by Al-Sam Properties in Lideta near Mexico. The company lists 360 apartments of 178 to 288 sqm and 10,000 sqm of commercial space.
Planned · Mexico, Addis Ababa
The current Al-Sam Properties apartment project at Mexico. The company lists it as upcoming.
Completed · Kazanchis, Addis Ababa
Two apartment towers by Sacur Real Estate, a sister company of Al-Sam, on Marshal Tito Road in Kazanchis. They have 111 flats and three penthouses, per Addis Fortune.
Bole, Addis Ababa
Apartment project by Al-Sam Properties in Bole.
Al-Sam Properties, also known as Alsam Real Estate, builds high-rise apartment complexes in central Addis Ababa. It is part of the Al-Sam group. The group started as an importer of consumer goods before it moved into property. Its office is next to the Chelelek Al-Sam Building at Mexico.
Sabir Argaw founded Al-Sam Plc. Addis Fortune reported that the company first became known for importing consumer brands such as BIC pens and Colgate. The property company says it has worked since 1998. It started its large housing projects in 2015. Together, its buildings around Mexico form what the company calls the Al-Sam Village.
Addis Fortune also reported that the mayor laid the foundation stone for a 30 storey Al-Sam apartment tower near Mexico Square. We could not confirm whether this is the same building as Apartment #2.
Al-Sam does not publish prices on its website. The site mentions a payment schedule and a brochure, but they are not public. Call +251 970 373 737 or +251 926 858 585, or email sales@alsamproperties.et.
Al-Sam units are large. Ask for the total price, the price per square meter and the payment stages. Ask whether a bank can finance your purchase. Addis Fortune reported that Awash Bank and Dashen Bank financed the two completed complexes. Read our mortgage guide before you agree to a loan.
Addis Fortune covered the inauguration of Al-Sam Apartment #1 and the Sacur towers. At that event, Mayor Adanech Abiebie praised Al-Sam for finishing projects on time and not holding unused land. We found no reports of court cases. The company page warns buyers not to pay cash to unofficial agents. Pay only through the company's bank accounts and get a receipt.
The office is next to the Chelelek Al-Sam Building at Mexico, Addis Ababa.
Al-Sam lists Al-Sam Apartment #1 in Lideta, Al-Sam Apartment #2 at Mexico, Saccur Apartments in Kazanchis, Lina Apartments in Bole and the Chelelek Al-Sam building.
At Al-Sam Apartment #1, the company lists units of 178 to 288 sqm.
Call +251 970 373 737 or +251 926 858 585, or email sales@alsamproperties.et.
Profile last reviewed October 18, 2026.