Qatari firm to establish 150,000 sq m luxury resort in Addis Ababa

February 9, 2016

(Ezdan Holding Group)

Prime Minister of the Republic of Ethiopia Hailemariam Desalegn has met (on Jan. 31, 2016) in his office in the capital Addis Ababa Chairman of Ezdan Holding Group Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani, and his accompanying delegation to discuss investment opportunities for Qatari businessmen. The meeting also tackled a project proposed by Ezdan Holding Group to establish a luxury tourist resort on an estimated area of ​​150,000 square meters in a distinct location in the heart of the Ethiopian capital Addis Ababa.

Ethiopian Prime Minister emphasized on the great support that his government intends to provide for the proposed project through paving the way and resolve any obstacles or challenges that may be faced. He hailed, at the same time, the strong relations between the two countries at all levels, particularly at the economic level, noting that  Ethiopia is one of the most important countries on the African continent that enjoy proper investment climate and that have many potentials for positive investment opportunities.

Photo – Ezdan Holding Group Khalid bin Thani and PM Hailemariam Desalegn

For his part, Sheikh Dr Khalid bin Thani bin Abdullah Al Thani praised the warm reception held by the Ethiopian side and the concern shown by the Ethiopian Government officials, led by the Prime Minister to support and promote investment opportunities and open the way for businessmen from different, noting that such projects will enhance the stimulate the Ethiopian economy and contribute to the advancement of Ethiopia at all levels.

Dr. Kahlid explained that Ezdan Holding Group will intensify its efforts in the coming period, in cooperation with the Municipality of Addis Ababa, to choose the appropriate location for the project which is going to be the first Qatari project in the Ethiopian market. The resort project features a high-quality technical specifications in terms of facilities and services which will contribute in raising the quality of real estate products available in the Ethiopian market.

On the Qatari Ethiopian relations, Dr. Khalid stated that he was able, during two visits, to meet with a large number of government officials and leaders of the Republic of Ethiopia, led by the Ethiopian President and the Prime Minister. He said that the Ethiopian side is tremendously keen to encourage and attract Qatari investments especially that the Qatari economy enjoys flexibility and strength, which contributed in promoting Qatari businessmen and supporting them to look for investment opportunities outside the country’s borders. The meeting focused mainly on ways of cooperation and bolstering bilateral relationships and long lasting strategic bonds in various sectors, especially industry, real estate and health.

Ezdan Holding Group Chairman mentioned the support that the business sector receives from the Qatari government under the wise leadership of His Highness Sheikh Tamim Bin Hamad Al-Thani, the Emir of Qatar. He stressed that His Highness’s vision contributed in creating positive opportunities for Qatari investors aiming to establishing new projects of high economic and social returns in various emerging economic systems.

The meeting was attended by Ethiopian senior officials and Ethiopia’s Ambassador to Doha,  Mesganu Arga, while the Qatari delegation included Qatar’s Ambassador to Ethiopia,  Abdulaziz bin Sultan Al-Rumaihi, Ezdan Holding Group CEO, Mr. Ali Al Obaidli, SAK Holding Group CEO, Eng. Hesham Al Sahtari, Ezdan Holding Group Board Member, Mr. Ali Al Hashmi, Medicare Group CEO Khalid Al-Emadi, Arab Engineering Bureau CEO, Eng. Ibrahim Jaidah, Ezdan Holding Group’s Chairman Office General Manager, Mr. Nusrat Ali Farooqi, and Ezdan Holding Group’s Director of Corporate Research & Analysis, Mr. Mahmud Awada.

Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani and his accompanying delegation had also held bilateral talks with Mayor of Addis Ababa, Mr. Diriba Kuma, and discussed steps that will fast-track work on the project, the necessary stages for the allocation of the appropriate location, and to create the appropriate atmosphere to discuss possibilities of other projects proposals.

The Board of Ezdan Holding Group had announced earlier that it has reached a preliminary agreement, during a meeting on Monday January 25th 2016, to study the establishment of a real estate project and seek promising investment opportunities in the Federal Democratic Republic of Ethiopia.

It is worth mentioning that this is not the first visit of Ezdan Holding Group’s Chairman, Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani to Ethiopia. In August 2014, headed a delegation of Qatari businessmen, in his visit to Ethiopia, in which he met with Dr. Mulatu Teshome, President of the Federal Democratic Republic of Ethiopia, at the presidential palace in the capital Addis Ababa.

It is noteworthy that the Federal Democratic Republic of Ethiopia, with a population of more than 100 million people, is one of the most populous African countries after Nigeria. Its surface area exceeds 1.1 million km², and is considered one of the fastest growing non-oil economies in Africa. The Ethiopian economy was able to achieve a distinct economic growth that reached 9.7% in the fiscal year 2012/2013, it even was the twelfth fastest growing economy in the world in 2012, according to international reports.

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Source: HornAffairs.com

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2 Comments
  1. Wolde

    I’m gonna tell you now that this deal is never go through. The people will speak just like how the Oromo people have spoken out against the capital expansion. Let us see but never underestimate the resolve of the Ethiopian people especially in our homeland…history has proven us time and time again.