Capital Ethiopia Newspaper

Flintstone inaugurate its maiden real estate project

Flintstone homes handed over 527 homes on Saturday June 30, 2012. The real estate company provided its clients with homes it has built in its site dubbed Twin Crossing located around Yerer. The site features 40 Villas, 60 town houses and 450 condominiums.
The site also features a sub urban environment complete with woods and meadows, while at the same time flanked by a four-lane highway and several private housing developments.
“By shaping the urban developmental program, many houses have been built alleviating the shortage of housing,” said Hialemeskel Tefera, State Minister of Urban Development and Construction.
“170,000 houses have been submitted to home owners in Addis Ababa and regional cities; 60,000 houses are under construction in Addis Ababa and will soon be submitted to owners,” added the state minister.  
Ethiopia’s urban population stands around 11 million people. This represents only 16 percent of the total population of the country which is currently estimated to be around 85 million. With an average population growth rate of around three percent, the country needs 600,000 additional houses in the coming decade alone according to information obtained from Addis Ababa City Housing Development Agency. This implies an additional housing demand of 60,000 units per year.
Flintstone homes is a real estate company founded in 2008 by Flintstone Engineering, a construction firm founded in 1991.