Hassenias Real Estate is going to deliver 40 of its planned 550 residential quarters to its customers in the coming few months. The real estate firm is also planning to launch the second phase of the project which will cost the company all together 1.2 billion birr and lays on 80,000 square meters plot.
The company which is owned and operated by 16 family members will deliver the 40 houses that are built around Alemgenna Town in the outskirts of the city 10 km South of Addis Ababa.
The ground plus one and villa houses took three years to construct and lay on an area between 215 to 240 square meters. The site when fully completed will enjoy a 10,000 square meter green area, gymnasium and swimming pool, children playing area, elementary school and sporting facilities.
“We are the pioneers to construct houses in this area and we are very proud in contributing to the development of the area” Mohammed Hassen, Marketing Manager of the company told Capital.
He added that the price of the houses targets the middle and higher income people.
The real estate project creates job opportunity for 200 people of which 80 of them are permanent workers.
“We are working hard to deliver the next 50 houses which are expected to be completed within the coming two years” he added.
In the past majority of the real estate buyer are the Diaspora ones but now local people have the courage to buy the houses, of course many things must be done to advertise widely the importance of real estate for the local people.