KEYIR NEWS:- A 67 billion Br public-private partnership agreement has been signed between the Ministry of Finance and a consortium of housing developers to construct over 4,000 residential units under the Chaka Housing Development Project.
Ink was put to paper on 02 July 2025, marking one of the largest housing-related PPP agreements in recent years. The deal will see the construction of housing units on 24 hectares of land, developed under a 70/30 financing model between the government and private firms. ICE Housing Development Construction Plc, Ovid Real Estate, the state-owned Ethiopian Construction Works Corporation, and a number of other private developers form the core of the consortium.
Officials from the Ministry indicated the partnership reflects a shift in government policy, one that increasingly leans on private sector involvement to bridge the widening urban housing gap.
The initiative forms part of a broader effort to address housing demand in Addis Ababa and other urban centres, where rapid population growth has placed immense pressure on outdated housing stock and infrastructure.
In a parallel development, Ovid Real Estate is also undertaking the construction of 1,823 housing units and a commercial centre under the Chaka Housing Development Project. The company has committed 4.3 billion Birr to the standalone project.
Authorities expect both projects to contribute to employment creation and increased private sector participation in urban development, while easing the capital’s chronic housing deficit.
KEYIR NEWS:- A 67 billion Br public-private partnership agreement has been signed between the Ministry of Finance and a consortium of housing developers to construct over 4,000 residential units under the Chaka Housing Development Project.
Ink was put to paper on 02 July 2025, marking one of the largest housing-related PPP agreements in recent years. The deal will see the construction of housing units on 24 hectares of land, developed under a 70/30 financing model between the government and private firms. ICE Housing Development Construction Plc, Ovid Real Estate, the state-owned Ethiopian Construction Works Corporation, and a number of other private developers form the core of the consortium.
Officials from the Ministry indicated the partnership reflects a shift in government policy, one that increasingly leans on private sector involvement to bridge the widening urban housing gap.
The initiative forms part of a broader effort to address housing demand in Addis Ababa and other urban centres, where rapid population growth has placed immense pressure on outdated housing stock and infrastructure.
In a parallel development, Ovid Real Estate is also undertaking the construction of 1,823 housing units and a commercial centre under the Chaka Housing Development Project. The company has committed 4.3 billion Birr to the standalone project.
Authorities expect both projects to contribute to employment creation and increased private sector participation in urban development, while easing the capital’s chronic housing deficit.