Addis Ababa, January 15, 2017 (FMC) – Addis Ababa City Mayor, Adanech Abebe, has officially inaugurated the construction of 13,752 residential units in the Kasanchis-Ayat Residential Village, a project being executed through a public-private partnership.
The initiative, led by the Addis Ababa City Administration in collaboration with Ayat Real Estate, aims to deliver modern housing equipped with essential infrastructure to enhance residents’ quality of life.
During the launch event, Mayor Adanech emphasized the city’s commitment to addressing the growing housing demands of its citizens. She highlighted the need for flexible legal frameworks to facilitate housing development through various models, including public-private partnerships, cooperatives, private partnerships, and real estate projects.
“The Kasanchis-Ayat Residential Village is a significant step forward in meeting the housing needs of our community,” the mayor stated. She further noted that the 13,752 units being constructed in partnership with Ayat Real Estate are expected to be completed within 18 months. Once finalized, the broader housing initiative in the Kasanchis area is projected to benefit over 100,000 residents.
Ato Abiy Mamo, Deputy Chairman of the Ayat Real Estate Board, provided additional details about the project. He explained that the residential village will not only include housing but also feature commercial spaces, meeting halls, sports facilities, schools, healthcare centers, and other critical infrastructure.
In addition to addressing housing needs, the construction process is expected to create employment opportunities for more than 10,000 individuals, according to the Ethiopian Zoning and Environmental Authority (ENA).
This ambitious project represents a collaborative effort to enhance urban living standards while tackling the housing shortage in Addis Ababa.
