More than 2000 visited the ET Real Estate and Home Expo, an annual gathering of major local and international home developers in Addis Ababa.
The event is a one-stop destination for housing, furnishing, and finishing products and services by bringing the developers operating in the country under one roof.
This year, its organizer 251 Communications and Marketing Plc held the sixth edition of the real estate exhibition at SkyLight Hotel on Saturday and Sunday.
The company’s COO Blen Mekonen said the event “is orchestrated in response to the escalating demand for homeownership, stemming from the nation’s continuous economic advancement.”
Ethiopia needs to build at least 7 million new housing units in the next ten years to meet the growing housing demand, especially in cities, per a recent estimate.
Addressing the demand requires increased involvement from the private sector, according to Deputy CEO of Federal Housing Corporation (EHC) Mikiyas Gizachew.
“The housing sector stands as a key priority for the government’s focus,” Mikiyas said at the expo opened days after authorities began searching for qualified private developers to build 79,800 housing units through public-private partnerships.
“As Ethiopia progresses in the development of homes, initiatives ET Real Estate and Home Expo hold immense potential in bolstering the involvement of the private sector within this domain,” he added.
The organizer says more than 2000 people visited the expo and explored the offerings of over 35 exhibitors, seeking “dream home or expert advice on the purchasing process.”
The event showcased a range of real estate properties, services, developers, and financial institutions to potential home seekers while offering a networking opportunity for major actors in the sector.
“This exclusive home expo serves as the primary platform uniting major real estate developers, the business community, and individuals seeking alternative pathways to homeownership,” Blen said.
“It also emphasizes the pivotal role the private sector could undertake in bridging the gap between demand and supply.”