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Talk Business

A promising joint venture between two real estate companies may see thousands of metropolitans in Addis Ababa get houses of their dreams 

Access Real Estate S.C (ARE) claims the private sector in Ethiopia was “able to construct no more than 12,000 units for the last 40 years.” That is a bad prospect for a country of 80 million-odd, of whom more than three million live in its capital, Addis Ababa. “The result was an acute housing shortage in urban areas,” says ARE, an Ethiopian company established in February 2008 by 652 shareholders.   

Its general manager Guillaume Massiera positions it somewhere “between the Hilton and the Sheraton”; he doesn’t pretend his hotel to be outrageously luxurious; (unlike other branches of the hotel throughout the world, this one misses out on the fun of having a swimming pool); but Mr. Massiera believes since the Radisson Blu Addis Ababa opened its doors on January 9th this year, it is “definitely getting a fair share of the market”; and he says the thing he is most “proud” of in his 11 years with Radisson Blu is the 300 staff members of the hotel in Addis Ababa; and if the World Economic Forum comes to Addis Ababa where there is already an explosion of the hotel industry, then so be it.