BusinessNews

Ovid Group, Army Fdn Mark Completion of 1.7bln Birr Housing Devt Project

Ovid Group, a Private Real Estate Developer announced the completion of the Army Foundation housing project built with outlay of 1.7 billion birr investment.

Over the weekend, the developer and the Army Foundation celebrated the completion and handover ceremony of the houses laid on a 16-hectare site at Koye Feche.

The group said in a statement on Monday that the project equipped with cutting-edge residential facilities signifies a new era in providing high-quality housing for Ethiopia’s defense community.

The Federal Housing Corporation served as a consultant to the joint development project initiated on September 27, 2023. The construction, which saw an investment of more than 1.76 billion birr, was completed ahead of schedule, culminating in a grand handover ceremony on May 11, 2024.

Seven buildings including four G+7 and three G+9 structures are part of the housing development, involving a total of 248 units with a mix of 120 three-bedroom and 128 four-bedroom apartments.

It also involves internal roads and lush green spaces, designed specifically for residential purposes and emphasizing a high standard of living.

Ovid Group says the housing development highlights its “exceptional capabilities in executing substantial initiatives that elevate urban living standards.”

Yonas Tadesse, Chairman and Group CEO of Ovid Group, said: “Partnering with the Army Foundation enabled us to deliver a housing solution that exemplifies our commitment to excellence and innovation in urban development.”

“We are thrilled to mark the completion of this project, which provides a superior living environment for our nation’s heroes,” he added.