Mayor Adanech Abiebie has announced an ambitious initiative that promises to reshape the urban landscape of the city. During a recent press conference, the Mayor officially launched the construction of a staggering 13,752 new homes in the Kasanchis Ayat residential area, marking a significant step forward in the city’s ongoing battle against inadequate housing.
According to the information on the Mayor’s Social Media page, this groundbreaking project, executed through a dynamic public-private partnership with Ayat Real Estate, aims to provide comfortable living spaces that are fully equipped with essential infrastructure.
“Today, we are not just building houses; we are building homes for families, communities, and futures. Our commitment is to ensure that every resident has access to quality housing that meets their needs,” Mayor Adanech declared passionately.
Highlighting the city's proactive approach, Mayor Adanech emphasized the recent improvements in legal frameworks that facilitate diverse housing development options.
“We have created pathways for public-private partnerships, associations, and real estate collaborations to flourish. In the past few years alone, over 270,000 houses have been constructed through these innovative approaches. Our goal is to strike a balance between housing supply and poverty alleviation,” she noted.
The Kazanchis Ayat residential village is poised to become a cornerstone of this effort, not only providing housing but also transforming the community's socio-economic landscape.
Mayor Adanech revealed that the new development will include 20,000 residential units and 2,000 commercial buildings, dramatically increasing the capacity to serve residents from 21,000 to over 100,000.
This redevelopment is expected to breathe new life into an area previously home to 8,000 residential and commercial structures, according to her.
The Mayor stated that construction is projected to be completed within just 18 months.
“We are committed to efficiency and quality. The collaboration with Ayat Real Estate and Ovid Real Estate will ensure that over 15,000 houses are built in Kazanchis within this time frame,” she asserted.
Abiy Mamo, Deputy Chairman of the Board of Directors of Ayat Real Estate, echoed the Mayor’s sentiments, outlining the comprehensive nature of the new village.
“The development will encompass not only residential buildings but also commercial spaces, meeting halls, sports facilities, schools, health centres, and other vital infrastructure. This project will create employment opportunities for more than 10,000 citizens, invigorating the local economy,” he explained.