As is of the real estate market in

Ethiopia
 Preamble
It is an honor to work with Ashtho real estate in various capacities. We really ones again
appreciate the professional approach you are following to do business. We will do our at
most to contribute towards the growth and professional development of your organization.

The study here under provides the as is or current over all condition and over view of the
real estate market in Ethiopia.
 BACKGROUND
A vibrant real estate sector is crucial to economic development. Similarly, transparent and
cost-effective land use policies offer a hospitable environment for foreign direct investment
as well as local projects.

Cognizant of the increasing key role of the real estate sector in Ethiopia’s economic
progress in recent years, the Government has accorded due emphasis for the promotion
and development of the sector. As a result, a remarkable growth has been achieved over
the decade in the establishment of standard real estate buildings (apartment, villas, and
commercial buildings) by private investors in the capital as well in major urban centers of
the country. Consequently, the available stock of existing standard housing units in the
capital has sharply increased, with the mounting impetus and support from the
government through various incentives.

The strong and ever increasing demand of house has increased the demand for housing
much more than it has been. The increment in population, rural urban migration, coming of
the Diaspora community to Ethiopia, looking housing as an investment and related factors
have increased the demand for house in Ethiopia to increase every time. The existing
government and private construction companies cannot meet the demand of house that is
growing highly.

The study here under provides detail inputs as to the as is condition and demand of the real
estate market in Ethiopia.
 MARKET PROSPECT

Real Estate Sector in Addis Ababa

The City of Addis Ababa occupies an area of 522 square kilometers (0.05 percent of the
Ethiopia’s landmass) and is comprised, according to official statistics, of over 4 million
inhabitants. The city is sub-divided into ten sub-cities, each of which has an average
population of around 400,000 people (see below); the three largest sub-cities by
population are Kolfe Keranio (with 563,417 inhabitants), Yeka (474,583) and Nefas Silk
Lafto (441,743). In terms of land area, the largest sub-cities are Akaki Kality, Bole, and Yeka
each of which covers an area exceeding 80 square kilometers. Population densities vary
considerably among the sub-cities, with Addis Ketema and Arada showing the most densely
populated neighborhoods while Bole and Akaki Kality are the least densely populated
sections of the city.

The income distribution and social status is another criterion to identify various disparities
among dwellers. The income gap and social disparity is growing high in Addis. There are
target groups that can afford high end and highly branded items on one end and there are
poor and destitute on the other extreme. Hence the demand for luxurious apartments that
target the high end of upper upper class, upper middle class and upper class is there.
Furthermore the upper middle and middle upper class could also be target groups for
modern and luxurious apartments.

The housing condition of Addis Ababa is by far inadequate in terms of quantity and quality
to meet the growing needs of its residents as well as quality of available housing stock.
Housing shortage, poor quality of housing has remained among the critical problems of the
majority of the population for decades. One of the problems many real estate marketers
face is lack of strong and reputable workmanship in the areas of construction capacity,
experience and ethics. This has highly hindered the delivery time, quality and quantity of
houses delivered to clients.

Previously, overcrowding and deterioration of the housing stock in the capital widely
prevailed. An estimated 60 percent of the city’s core is dilapidated, and about a quarter of
all housing units have been built informally. The city is also not able to provide adequate
services to the extension areas thus discouraging house construction and contributing to
the expansion of the slums.

Measuring housing quality by major indicators that are availability of adequate space for
privacy and mobility and physical condition of the houses, most of the dwellings in the city
are termed as low level of quality. According to available studies of the Central Statistics
Authority, about 44.8% of all Addis Ababa households are living in overcrowded dwellings.
With regard to physical condition, the feature of most of the units is in need of replacement
because 82.3% of the total housing stocks are built up of mud wood and served for more
than 50 years (CSA). In view of access to basic services the residents of the city are
suffering from shortage of potable water, sanitation, transport, communication, drainage,
and education and health facilities.

The real estate sector has been one of the fastest growing segments of the Ethiopian
economy in recent years. The recent scope of real estate developments in Addis Ababa can
be reviewed from several perspectives and information sources, including from a
macroeconomic perspective focused on the sector‘s growth record as measured in GDP
statistics. Macroeconomic statistics provide the broadest basis for tracking trends in the
real estate sector: Real Estate and Construction are two of the 18 sectors according to
which Ethiopia‘s national income (GDP) statistics are reported. Currently there are more
than 80 real estate companies in Ethiopia.

These two sectors combined accounted for 25% percent of GDP in 2014/2015, with real
estate comprising 15.1 percent and construction comprising 9.9 percent. According to GDP
sector data, real estate and construction sector grew—in real terms—by an annual average
of 18.1 and 16.4 percent per year respectively in the past five years to 2014/15. This is
somewhat above the average annual growth rate of real GDP during this period, indicating
a rise in the share of these activities within the overall economy. In fact, of the average
growth in the last five years, construction and real estate taken together provided greater
portion of the overall growth rate.
This shows that the demand for the sector is booming from time to time. In addition the
price of a single housing unit appreciates by more than 30% every year and annual rent is
increasing by more than 25%.

Government Policy Measures

Cognizant of the aforementioned dreadful housing problems, the Ethiopian Federal

Government enacted a proclamation on urban development policy that gives due attention
to alleviating housing problems of urban areas. The Addis Ababa City Administration has
also prepared a housing development program to reduce housing problem of the city. The
program attaches prior attention to alleviating housing problem of low-income households.
It promotes high raise (up to G+4) condominium buildings with a minimum built up area of
22 m2 to minimize the construction cost so as to benefit low income families. The
government is also enforcing maximum plot utilization of any construction that go more
than 90%.

The government and the private sector are considered as the major actors in housing
construction and marketing activities. Accordingly, the Addis Ababa City Administration is
playing a remarkable role in the development of housing in the city. The residential real
estate market in Addis Ababa is evolving into a varied mix of extensive government-built
condominiums, mid-market developments by housing cooperatives, and largely high-end
homes built by real estate developers and/or homeowners themselves.

Note: Large homes are defined as 1000 square meter plots with four or more bedrooms,
medium-size homes are 500 square meter plots with at least 3 bedrooms, and small homes
are 250 square meter plots with two or three bedrooms.

Strengthening the urban agenda is one of the strategies the Government plans to follow
over the next five years, and there is a geographically differentiated strategy which consists
of strengthening the urban agenda, encompassing the following major activities.

(i) Strengthening municipal governments and administrative institutions;

(ii) Investing in essential urban infrastructure

 (iii) Developing financing mechanisms that limit the demands on the public budget;

(iv) continuing to improve the regulatory and licensing environment and urban
land, which is needed both to reduce barriers to investment/ business, and to
increase security and favor asset building by households; and

(v) Increasing the availability of urban industrial land.

Proper implementation of these activities will undoubtedly have a significant and positive
impact in dealing with the main constraints for the development of the real estate sector in
Ethiopia.

Though the encouragement by the government is one factor, many real estate businesses
start engaging in this sector and fail to deliver in time. Much is attributed to their internal
problem than external issues or macro factors. Particularly lack of strong experience in
construction, workmanship problem, failure to know market demand and market
conditions are some of the factors that put lag on many projects.

Supply Situation

Residential homes and neighborhoods built by private real estate developers are now
becoming increasingly common ever since the first large-scale development was initiated
by the pioneer in this sector, namely Ayat Real Estate. At present, the dominant real estate
developers for residential villa homes include: Ayat Real Estate, Sunshine Real Estate,
Habitat New Flower Homes, Ropack International, Ambassador Real Estate, Trancon Real
Estate, Gift Real Estate, Enyi Real Estate, Country Club Developers, Akakas Real Estate,
Boran Real Estate, Flintstones Homes, Eniy Real Estate, Noah Real Estate, Metro Real
Estate, Hassenias Real Estate, Pluto Real Estate, Ever Grand and Zenebe Frew Real Estate.
Many more are also operational, though with more limited activities.
The success of Hayat is attributed not only to its first entry to the market but also their
workmanship and the 30 years payment modalities.

For apartment developments, some of the most active developers include Ayat, Sunshine,
Access Real Estate, and Flintstones Homes. The housing units of these private developers
range from very luxurious, high-end communities that sell multi-million Birr homes (e.g.
Country Club Developers and Akakas Real Estate) to sellers of more moderately priced
homes (such as those of Enyi Real Estate, Sunshine, and Access Real Estate). Apartment
development in the heart of the city has become common these days and Chinese
contractors are getting in the sector as well. The best example is Hong Tu (Tsehay Real
Estate).

In terms of land allocations to specific developers, a compilation of data from various

press and industry reports suggest that Sunshine Construction was one of the front-
runners in terms of land allotments, with 291,628 square meters of land in three different
locations. Berta Construction (Habitat-New Flower Homes) was granted 120,000 square
meters of land near CMC for the construction of 500 villas and the same number of condos.
Ambassador Real Estate secured 75,000 sq. meters plot of land for the construction of
villa houses and apartments. Ayat Real Estate also received 35,000 sq. meters of land in
and around Kazanchis, separate from its large initial allocation in the neighborhood now
known by its name. Trancon Real Estate acquired 50,000 square of land in Nifas-silk
Lafto/Lebu area sufficient to build 46 villas and condominiums that could accommodate up
to 539 households. Many more are coming and aim to build high rise apartments in the
heart of the city. As the saying goes the three marketing tools for real estate are location,
location and location. To this effect the 22 area that we have and are pursuing to build has
all the three character tics.

The trend in supply of residential homes and apartment developments in Addis Ababa can
be observed in terms of the number of new real estate-related investment registrations,
building permits issued by the city administration, and real estate tax revenues reported by
the tax authorities.

Data on Investment Registrations at the Ethiopia Investment Authority (EIA) gives a

measure of new investor intentions, an element for observing trends in the real estate
sector. On this score, one observes that there was particularly rapid growth in real estate
related investment plans during the decade covering 2001 until mid-2009. For the decade-
long period, namely considering new investor intentions registered in 2001 versus that in
2009 (Birr 2.2 billion versus Birr 17.6 billion), the annual average growth amounted to 49
percent. Deflated by average inflation during this period, this amounts to real growth of
around 37 percent per year. The next ten years until 2016 show an average growth of more
than 40%. The revenue to be generated will increase as well at a very high rate. For a grade
one contractor like Ashtho, building real state apartment houses will not be a problem as
long as strong planning and follow is done in all aspects of project deployment.

Parallel to the EIA data on investment registrations are data on real estate investor license
certificates granted by the Addis Ababa Investment Agency (AAIA). Though there may be
double-counting with EIA data, the trends in the Addis Ababa license data are still
indicative. On this basis, recent studies reveal sharp growth in licenses granted, from a
level of 88 licenses issued in the year 2005 to 160 in 2008, or an implied annual average
growth rate of 22 percent. More than 300 companies have taken license as of 2015. But the
most active ones are less than 80 in number.

On the basis of the above data sources, growth in real estate activity has likely been (in real
terms) within the range of 24 to 34 % per year, based on the two sources presumably
taken as more reliable measurement sources.

The observed increase in the scope and scale of real estate activity has been driven by
multiple factors. Foremost among these has been:

 Overall economic growth (as real GDP grew by an average of 11 percent per annum
during the past five years);

 Demographics (the urban population is rising by 440 ,000 per year, assuming the
national population growth of 2.3 percent);

 A long-standing backlog of unmet housing demand (estimated at 856,000 housing

units);

 The provision—in limited quantities—of lease land for developers, cooperatives and
individuals;
 The expansion of city roads and infrastructure (such as the construction of the Addis
Ababa Ring Road and other major roadways, the improvement of numerous
neighborhood roads, and the wider reach of electricity and water services to the
edges of the city), the growth of the city in all the four direction is one factor, people
come from 40 km radios of Addis in; and the construction of coble stone and roads
has increased the lease price of plot of lands.
  Tax and investment schemes, involving a broadening of investment areas, extended
lease periods, and income tax incentives.

The market for the real estate sector in Ethiopia is not uniform and similar. It varies
depending on the quality and complexity of the buildings, their purpose as well as on the
location of the buildings. In the medium term, supply of both residential and non-
residential (mostly business entities) buildings is expected to rise, albeit modestly, owing
to a number of reasons such as the expected increase in the supply of serviced plots of land,
as preparations are already under way to this effect by the Land Development Agency.

As more serviced plots of land become available to meet demand, the prevailing high price
of land might decline and create suitable conditions for increased supply of buildings.
Another is the expected decline in construction costs. Specifically, the price of cement has
exhibited a sharp decline very recently (end of November 2012) to about Birr 270 per
quintal from its peak of up to Birr 500 a few months back. It is now below 230 birr.

Nevertheless, there are factors deterring the supply of residential buildings not to grow in
par with the rapidly growing demand, the following are among major ones.

 Many consider the lease prices charged as not reasonable. The high price of land,
therefore, makes the construction of buildings very expensive.
 Besides, the provision of necessary infrastructure services, a key to efficient
operation of the real estate sector, has been inadequate. This has impeded and
created obstacles for the supply of buildings and houses, in the face of the ever-
growing demand. The low level of infrastructure and service provision are also
aggravated by lack of advance planning and coordination between municipalities
and infrastructure providers.
 New plot production by the city government has typically involved sub-division and
road construction only. Plots are then distributed to users, who assume
 responsibility for paving the roads and securing water and electricity services.
These responsibilities must compete with the need to construct buildings. As a
result, construction works are exposed to delays/ prolonged period, high costs and
low/ poor quality infrastructure provisions.

Demand Considerations

On the other hand, demand for residential houses in Addis Ababa has been growing quite
rapidly, due mainly to the fast urbanization and population levels and the steady growth of
the economy and subsequent improvement in per capita income.

Recent data revealed by the Addis Ababa City Administration shows that the total demand
for low-cost houses alone in the city exceeds 400,000, but so far less than 30,000 of these
houses have been built and distributed to the applicants. Demand is extremely high for
those less complex houses, which are largely from lower and middle-income households.

The demand for more complex and high quality buildings mostly comes from higher
income groups of the society who represent about 10% of the city population. Likewise, all
the recent estimates show that the demand for such houses is also high. However, it has to
be considered that the demand for the real estate buildings is highly segmented and far
from uniform, depending on size of plot/ floor area, the purpose for which the buildings are
constructed, location, quality and complexity of buildings.

Target Segment Demand

The target market for Chiban Real Estate centers on geographically Addis Ababa and its
outskirts, and in terms of economic status the higher and middle-income groups, the
Diaspora and expatriates. The apartments are made to be very luxurious both in size and
quality in order to appeal for the upper class target market.

In this study the estimation and projection of demand for residential real estate in Addis
Ababa is computed based on the following basic assumptions.

 The population size of Addis Ababa in 2015 is estimated at 4 million.

 Average household size in Addis Ababa is 6.1 persons;
 Estimated number of household heads amounts to 910,670 persons;
  It is expected that those residents in the capital including the Diaspora and
expatriates who do not own a dwelling/ residence comprise about three-fourth or
more of the total. This study conservatively takes 65% of the estimated number of
household heads, i.e. 861,936 heads acutely demand for own-dwelling;

 The living standard of urban dwellers categorized by income groups- average for
African countries reads: 10% high-income, 15% middle-income, and 75% low-
income group.

 The market segment for apartment housing units targets the high and middle-
income groups;

 Hence, about 10% of the 861,936 household heads, i.e. 86,190 persons are
segmented as the size of effective demand in 2016 for the project’s residential
apartment housing units;

Forecasted Demand

It should be noted here that comprehensive data in this sector remains scarce at country
level. The following are the main factors considered in this study for projection of demand
for residential housing units:

 Growth rate in real GDP (average 11.4%)- as proxy to growth in disposable income,
 Growth rate of urban population (about 4% per annum), and
 Trend in real estate building construction activities (growing within the range of 14
– 22% per year).
The blended average growth rate of the above three major determinants in predicting the
future demand for residential real estate housing units is computed to be about 16% per
year. Nonetheless, for a conservatively pragmatic projection this study takes a growth rate
of 11% to forecast demand for apartment housing units in Addis Ababa.
Forecasted Demand by High & Middle Income Group for Villa and Apartment houses
in Addis Ababa (2012 – 2018)

Year Forecasted Demand

(housing units)

2012 128,187

2013 142,288

2014 157,939

2015 175,313

2016 194,597

2017 216,003

2018 239,763

Prospect and Opportunities

Various studies recently conducted on the real estate sector reveal that there is a huge gap
between the demand and supply of houses in Addis Ababa, the capital city. Private
residential real estate developments are expected to be much more diverse in their
targeted market segment than those of the government, which are likely to continue their
original objective of addressing the housing needs of mainly lower income.

In most other respects, the outlook points to promising prospects for developers prepared
to seize emerging opportunities in several sub-segments of the real estate market.
Apartment developments, both public and private, will become increasingly common. In
line with the expectation of ‗vertical expansion‘, the spread of apartment residential homes
is bound to become much more widespread in the coming years.

There exist considerable opportunities in benefiting from real estate investment venture in
Addis Ababa from a business or real estate developer’s perspective. The most promising
prospects include:
i) Targeting Undeveloped and Under-developed City-Center Plots:
One distinguishing feature of Addis Ababa is its historical pattern of unplanned growth
which has led to modern commercial buildings being located (almost without exception)
right next to informal, illegal, and/or completely undeveloped housing units. Thus, even in
what would be considered prime city center neighborhoods—whether in Bole, Churchill
Road, Meskel Square, Kazanchis, Mexico Square, Lideta, Piazza or many others—modern
buildings and developments are typically surrounded by thousands of square meters of
undeveloped (often empty) land just behind the main roads or ―hidden‖ within close
proximity to city center roadways.

However, with the Addis Ababa Municipality now working to upgrade and revitalize many
parts of the city-center and with the stricter enforcement of guidelines on the use of city
center spaces (e.g. minimum floor requirements), the development of such undeveloped
city center plots will be one of the most promising opportunities for both commercial and
residential real estate developers.

ii) Focus on Under-served Market Segments, Middle-Income Buyers:

Real estate development activities in the past decade have tended to focus on the high end
of the market, which was only to be expected given strong demand from diaspora buyers,
pent-up demand for larger homes (given restrictions on such homes under the previous
government), and limited credit options that favored well-to-do buyers who could afford to
purchase homes with full upfront financing.

Private developments shall focus targeting a market segment that starts with middle-
income households but also caters to buyers seeking very high-end, exclusive, and
luxurious apartment residences.

iii) Using cheaper and unconventional construction materials:

Traditional construction techniques in Ethiopia—involving the heavy use of bricks, hollow-
blocks,‖ and cement in virtually every stage of the construction process—are expensive,
inefficient, and time consuming. Indeed, it is quite striking that low-cost building
techniques and materials are so under-utilized in the local market given the country‘s
income levels and the need to provide cost-effective housing at a substantially faster speed
and larger scale. Given this state of affairs, developers with cheaper and unconventional
construction materials are bound to have significant advantages over competitors with
respect to cost, efficiency, and delivery times. Promising prospects in these regard include
the use of pre-fabricated boards (such as drywall and gypsum), steel-based construction of
high rise buildings, and locally available environmentally friendly building materials.

iv) Economic growth and growing significance of Ethiopia

The massive expansion in economic activities and rise in magnitude of private investment,
both domestic and foreign, in the country in recent years, which consequently will bring
about enormous inflow of residents from abroad to for various reasons in the coming
years.
Besides, the growing significance of Ethiopia as a seat for African Union and other regional
as well as non-government organizations has resulted in frequent visits of foreigners to the
capital for various purposes.

Sales Prices

Recent studies conducted by Access Capital depict that with around one hundred
embassies, several hundred NGOs and aid agencies, plus major international institutions
like the AU, UNECA and others, the demand for high-end residences in close to city center
locations is unlikely to face any shortfall in demand. If anything, as Addis Ababa‘s
expatriate community expands to include the representatives of foreign companies and
investors (in addition to the already large international organization/NGO sector), there
might even be continued upward pressures on rents in the coming years to the extent that
there is no significant expansion in the supply of city center homes.

Thus, the study asserted that there is no clue for declines in either sale prices or rental
rates for large homes in the established residential neighborhoods such as Bole and Old
Airport. The residence homes in locations closer to the city center (most notably Bole area,
Old Airport, and the like), the current high price levels can be sustained in our view due to
the unique demands for such properties arising from the city’s large and ever-growing
international community.
 Even at the low end of the residential housing market (homes of 250 square meters), the
study found that prices are recently above the Birr 3 million mark in the residential
neighborhoods we surveyed. With respect to houses in the 500 square meter range,
prevailing prices reach up to Birr 7-10 million in most neighborhoods.

On the other end, villa homes with 500-1000 square meters compound area, and with four
or more bedrooms, average prices rise to as much as Birr12 million; in some sub-sections
within these neighborhoods (such as ―Bole Japan) average prices are as high as Birr 15
million.
Recent (August. 2017) promotion by Noah Real Estate for an apartment of three bedrooms
with 147 square meters at Bole-Boston area is priced at Birr 6.25 million.

Current plot and price of selected real estates

The following data is collected first hand by our data collectors to assess the current plot
area, access, room types, site location, parking and other issues from certain selected active
real-estate. The data has helped us to come up with reasonable and marketable plots to our
prospective clients. This has been discussed in-depth with Architects from OTT,
particularly with Mr. Temesgen.

Developer Room Site Name Accesses Plot Size Parking/

Type House
hold
Noah Real Estate 2 Bed Gurd Shola  Kitchen with Total: 93 m2 2
Room Balcony Actual: 80.53m2
(9.11m2)
 Living and
Dining(25.76m2
)
 balcony (4.2m2)
 Store (6.4m2)
 Bed room
(10.78m2)
 Bath room
(4.04m2)
 Bedroom
(12.82 m2)
 Bath room (3.82
m2)
 Balcony (3.6
m2)
2 Bed Gurd Shola  Kitchen with Total: 83.9 m2 2
 Room Balcony Actual: 78.93m2
(9.24m2)
 Living and
Dining(17.3m2)
 balcony
(3.45m2)
 Store (6.4m2)
 Bed room
(12m2)
 Bath room
(4.30m2)
 Bedroom
(10.20 m2)
 Bath room (3.69
m2)
 Corrido 12.35
m2)
3 Gurd Shola  Kitchen and Total: 126.8 m2 2
BedRoom Dining Actual: 115.55m2
(11.94m2)
 Store (4.5m2)
 Living and
Dining(23.7m2)
 balcony
(3.45m2)
 Store (6.4m2)
 Bed room
(12.82m2)
 Bath room
(3.82m2)
 balcony
(3.60m2)
 Bed room
(10.78m2)
 Bath room
(4.04m2)
 Bed room
(11.92m2)
 Corrido (18.58
m2)

Noah Real Estate 3 Adey Abeba  Living and Total: 172 m2

BedRoom Dining
 3 Bedrooms
 4 Bath romos
 MaidsRoom
 Kitchen
3 Adey Abeba  Living and Total: 151.8 m2
BedRoom Dining
  3 Bedrooms
 3 Bath romos
 MaidsRoom
 Kitchen
 Outdoorspace
3 Adey Abeba  Living and Total: 138.2 m2
BedRoom Dining
 3 Bedrooms
 3 Bath romos
 MaidsRoom
 Kitchen
 Outdoorspace
3 Adey Abeba  Living and Total: 110.0 m2
BedRoom Dining
 3 Bedrooms
 3 Bath romos
 MaidsRoom
 Kitchen
 Outdoorspace
2 Adey Abeba  Living and Total: 93.7 m2
BedRoom Dining
 3 Bedrooms
 2 Bath romos
 MaidsRoom
 Kitchen

Sun shine 3 bed CMC  Living and Total: 120 m2

rooms Dining
 3 Bedrooms
 3 Bath romos
 Maids Room
 Kitchen
3 bed Beshale  Living and Total: 120 m2
rooms Dining
 3 Bed rooms
 3 Bath romos
 Madis Room
 Kitchen
Ayat 3 bed Ayat Total: 86 m2
rooms
2 bed Ayat Total: 64 m2
rooms
Flint Stone One bed Bole/ 21 Total: 36 m2
Sites at bole, room stories
Summit,
kassanchies,
express way, Adey
Beshale, Zoble,
meksiko
2 bed Bole  Living and Total: 48 m2
rooms Dining
 2 Bedrooms
 1 Bath room
 Kitchen
3 bed Bole  Living and Total: 71 m2
rooms Dining
 3 Bedrooms
 1 Bath romos
 Kitchen
One bed Summit/ 9 Total: 37 m2
room stories
2 bed Summit  Living and Total: 54 and 50
rooms Dining m2
 2 Bedrooms
 1 Bath room
 Kitchen
3 bed Summit  Living and Total: 69 m2
rooms Dining
 3 Bedrooms
 1 Bath romos
 Kitchen
One bed Kasansichise Total: 35 and 41
room / 10 stories m2
stoudio Kasnasichise Total: 38 m2
2 bed kasansichise  Living and Total: 58 m2
rooms Dining
 2 Bedrooms
 1 Bath room
 Kitchen
3 bed Kasanchiese  Living and Total: 70 m2
rooms Dining
 3 Bedrooms
 1 Bath romos
 Kitchen
Eneye 3 bed Bole bulbula  Living and Total: 112 m2
rooms dining room 33
 Master bed
room 15
 Bed room 02
10
 Bed room 03
11
 Kitchen 10
 2 bathrooms
 Elevator and car
parking space
 2 bed Bole bulbula  Living and Total: 90 m2
rooms dining room 28
 Master bed
room 12.5
 Bed room 02 9
 Kitchen 9
 2 bathrooms
 Elevator, play
ground and car
parking space
Metro 2 bed Bole bulbula/  Living and Total: 103.5 m2
rooms G plus three dining room
33.6
 Master bed
room 14.4
 Bed room 02
11
 Kitchen 9.4
 2 bathrooms
3 bed Bole bulbula/  Living and Total: 117.5 m2
rooms G plus three dining room 31
 Master bed
room 14.4
 Bed room 02
11
 Bed room 03
11
 Kitchen 9
 2 bathrooms
Hassenias 3 bed Alemgena  Living and Total: 112, 106,
rooms dinning 28 101, 80 m2
 Master bed
room 13.5
 Master bath 4.5
 Bed room 02
12.1
 Bed room 03
12
 Common
shower 3.4
 Kitchen 12.3
Pluto parking, One bed cmc Total: 65 m2
play ground and room
other facilities
Two bed Cmc Total: 110 m2
rooms
Three bed Cmc Total: 160 m2
rooms
Ever grand reale Three bed  Living and Total: 115 to 159
estate rooms dinning m2
Grand festival 22/  Master bed
locations at bole, room
22 and kasanchise  Master bath
 Bed room 02
 Bed room 03
 2 nd bath room
 Kitchen
 laundry

Additional remark

 Price ragne from 850,000.00 to 6 .25 million