All of the incredible activity levels in the residential real estate market in Addis have resulted in a city that is far different than it was just 15 years ago. Forget about neighborhoods, entire sub-cities seem to have cropped up out of nowhere and for all the talk from individual homebuyers about how long it takes to get a home built, construction of both commercial and residential developments seems to be proceeding at lightening speed. In the western part of the city is where you will see the most construction and if you haven’t been there in a while, be prepared for a shock. Certainly, you might expect to see the normal construction that usually follows the completion of a main road such as the one going to Ayat which in some parts is already lined with multi-story office buildings, retail operations and the like. But stop by the new roundabout just past CMC for a quick look around and you will immediately be hit with the realization that a mini-city has sprung up in this area that was once considered ‘too far from the city’ to be a viable community. On the right is Meri Luki, a new sefer adjacent to the brand new road going from the CMC roundabout to Bole Kotobe. The scale of developments in this area is truly awe inspiring but it is only one of the major changes you are likely to see in town including a redrawing of some of the traditionally top neighborhoods in the city as well as some fabulous houses that can hold their own against most anything else anywhere in the world.
New Developments
In many cases, newer developments tend to be concentrated around particular areas perhaps in part due to lease allocation practices of the relevant authorities although infrastructure development (i.e. water and power lines) could also be a big factor. For example, although Ayat Sefer is known more for the specific development it is named for, there are actually several other developments that are sprouting up behind it including one from ASER Real Estate and another from Ambassador. Legetafo first saw a development by Ropac but has since been joined by CCD (Country Club Development) and appears set to see a lot more fairly soon from a myriad of others. On the other side of town (southwest Addis) in the areas known as Ayer Tena and Alem Gena are yet more developments including Kara Kore, ENYI and Obadi Estate. But as far as sheer size and shock value is concerned, none surpass the area around CMC in front of which are developments by Sunshine, Berta, Gift and others and behind which are even more construction sites of custom homes and condominiums.
Sunshine's main Meri Luki development. Well planned development that looks set to deliver homes to buyers in pristine condition both inside and outside of their compounds. Note the lack of telephone or electricity poles - all such infrastructure has been buried underground inside purpose made conduits.
The development that started it all. 8 zones and counting, over two thousand homes built and now well into the construction of several apartment/condo buildings right around the main circle at the center of Ayat
A new development just behind/above Ayat Sefer but they have already delivered one completed home to a very satisfied buyer (in just about a year according to them
Another new development adjacent to Aser (just behind/above Ayat) which is just starting out. Same ownership group as Ambassador Garments and the new Bole Ambassador Hotel next to the Millennium Hall
CCD (and nearby Ropac) are located well northeast of Ayat in Legetafo. Definitely upscale homes but with price tags to match.
Newer development in the Alem Gena area of town. Good looking homes with perhaps some of the more upscale bathroom finishings seen along with CCD. They do some level of pre-building so delivery timeframes may be improved. Ownership group's holdings include ENYI construction (just won contract to redo Bole Rd), ENYI Rose Farm and 3F amongst other things.
New development on the hill opposite from ENYI also in the Alem Gena area.
