Ethiopia aims to build condominiums to boost housing
Ethiopia now seeks to leverage on condominiums to boost housing programme already up and running in the country. Since 2005, the Ethiopian government has been implementing an ambitious low- and middle-income housing initiative dubbed the Integrated Housing Development Programme (IHDP).
This initiative aims to build 400,000 condominiums to boost housing in the country, promote the development of 10,000 micro – and small – enterprises, create 200,000 jobs, enhance the capacity of the construction sector, promote home ownership for low-income households and regenerate inner-city slum areas.
Although the initiative could not meet all of its major targets, it has managed to construct about 160,000 housing units, significantly increasing the number of first-time homeowners and has boosted the housing market by increasing the supply of owner-occupied housing and rental units.
Over 750,000 condominium houses are in the pipeline and will be built in the second Growth and Transformation Plan (GTP-II) period. A total of 335,000 houses will be built in Addis Ababa alone. During the implementation period, the government will put up a total of 430,000 houses, while over 243, 000 residential houses will be built by cooperatives in partnership with real estate developers.
Despite challenges, the project has also enhanced the construction sector capacity, reduced slums and been a major generator of employment opportunities.