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Finance Ministry Signs 71.8B Br Partnership Deals with Private Firms

Jul 3 , 2025

The Ministry of Finance has signed a 71.8 billion Br agreement with private sector partners for seven development projects from housing, tourism to health.

Signed today at the Ministry's headquarters on King George VI St., the agreemens establishe public-private partnerships (PPP) for four housing projects, two tourism destination sites, and one healthcare centre. Finance Minister Ahmed Shide and project representatives were present at the signing.

Key partners include MIDROC Investment Group, Ovid Real Estate, and the Ethiopian Construction Works Corporation.

The housing projects feature the Chaka Housing Development Project, led by Ice Home Development & Construction Plc in partnership with the Ethiopian Construction Works Corporation; additional housing developments will be carried out by Ovid Chaka Housing Development Plc and Ovid Kings Tower Housing Development Plc under the Tiyit Bet Housing Development Project.

The tourism components include the Denbi Lake Lodge Development by Denbi Lake Lodge Plc (a MIDROC company) and the Awash Resort & Spa Development by Awash Falls Resort Plc, under Boston Partners.

In the health sector, an Integrated Diagnostics Service Centre will be developed by a consortium of Cerbalancet, ICL, and Pioneer Diagnostics.

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