Ezdan forays into Ethiopia with first mega project
Qatar’s Ezdan Holding Group makes its first foray in Ethiopia with the planned construction of a major hotel and entertainment complex in the capital Addis Ababa
Qatar’s real estate conglomerate, the Ezdan Holding Group, has announced a major investment in Ethiopia with the launch of its first, mega, multi-purpose construction project in the Ethiopian capital Addis Ababa.
The project, spread over 60,000sqm of prime land, and located in the heart of Addis Ababa, will house a five-star hotel in addition to other key facilities including a convention centre, a tower of hotel apartments and offices and a shopping complex comprising a range of retail outlets, modern restaurants and cafes. The value of the investment was not disclosed.
The memorandum of understanding (MoU) was signed by the leaders of the two delegations. The Qatari delegation was led by the chairman of Ezdan Holding Group, Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani and included the vice chairman, Sheikh Abdullah bin Thani Al Thani, and Group CEO, Ali Mohamed Al Obaidli.
The Ethiopian side was led by Deribaa Kuma, the mayor of Addis Ababa; Mesganu Arga Moach, the Ambassador of Ethiopia to Qatar, accompanied by a number of senior Ethiopian officials and dignitaries, The Peninsula has reported.
The Emir of Qatar, HH Sheikh Tamim bin Hamad Al Thani, recently made an official visit to Ethiopia to strengthen bilateral relations in various fields, including enhanced cooperation in the fields of trade and economy.
"The project aims to support economic growth in Ethiopia and in the real estate sector. Ezdan Holding Group’s first investment experience in Ethiopia will significantly boost the tourism sector,” commented Dr. Sheikh Khalid bin Thani.