UAE Businesses Keen to Invest in Real Estate, Tourism Sectors

ADDIS ABEBA – Members of UAE’s Dubai chamber of commerce are keen to invest in tourism and real-estate sectors in Ethiopia, said top official of the chamber.

UAE-based developer Eagle Hills has already made its first foray into the Ethiopian real estate market with the launch of La Gare, the downtown of Addis Ababa.

The project is expected to offer more than 4,000 residences.

Omar Abdulaziz Khan, Director of Dubai Chamber’s International Office, said more UAE businesses are keen to invest in real estate and “tourism in the country which is beautiful to visit”.

The director said this during a two-day Ethiopia-Dubai Diaspora Business Forum held at the Sheraton Addis starting from Tuesday.

The organizers said the forum is a platform to strengthen UAE’s businesses with their counterparts in Ethiopia and Africa.

The forum, held under ‘Building Bridge to Prosperity’ theme, brought business communities from both countries together with the intention of business networking and promoting business opportunities.

The role of businesses in strengthening economic ties of countries is significant, Misganu Arega, state minister of trade and industry of Ethiopia, told the forum.

He added his country believes that “such a role can be enhanced through the strong participation and collaboration of the Chambers of Commerce of the two countries”.

“Dubai as the ‘global business hub’ and Ethiopia as the ‘gateway to Africa”, we can build bridges of prosperity and scale up the economic relationship to the continental level,” Misganu added.

By Mhret G/Kristos

Photo Caption: Abu Dhabi-based developer launch La Gare project, which is anchored by four and five-star hotels supported by retail outlets, offices and residential buildings, in November, 2018.