MIDROC Embarks on Mega Real Estate Project

Sep 17 , 2022

MIDROC Investment Group has kicked off construction on a luxury residential development project in Addis Abeba. A launch ceremony last week saw the attendance of Mayor Adanech Abiebie and Jamal Ahmed, chief executive officer (CEO), of the Group. Dubbed "Mahmadya Residential Village," MIDROC executives estimate the project will cost up to 50 billion Br to execute. It comprises houses and apartment buildings, as well as as commercial facilities, to be erected on MIDROC's Mechare Meda property in the Sarbet neighbourhood. The project also includes a parking lot with the capacity to hold close to 9,000 vehicles at a time. MIDROC Investment Group has previously been involved in large-scale construction projects such as commercial buildings and infrastructure. The project in Sarbet marks its first venture into major real estate investment.



A young deacon baptises an eager crowd at Timket festivities around Janmeda field. Immersion in water represents a rebirth in initiation ceremonies in history. It symbolises the breaking of amniotic fluid (a liquid that surrounds the fetus) during birth, hinting towards a second birth on the planet. Water has had deep sociopolitical significance for Ethiopia as the construction of the Grand Ethiopian Renaissance Dam (GERD) has been proceeding under three Prime Ministers. Exeeding the initial bud...



On a scorching hot afternoon, a pack of stray dogs take shade under a tree on Debrezeit road. A third of Ethiopia's landmass was reported to be covered in trees in the 19th century, deforestation has put that number at around 10pc. Emperor Minelik II was the first leader of Ethiopia to engage in reforestation as he imported the Australian Eucalyptus in 1895. Prime Minister Abiy Ahmed (PhD) also is enamoured by lush greenery to the degree he launched the Green Legacy Initiative three years ago...



A street vendor sells fresh-cut grass around Kera for the holiday season. Most households embellish the holiday atmosphere at home, by spraying 'Qetema' in the house. A green glaze is expanding across the capital, with a new public park being announced every few months. Lemi Park in the recently formed Lemi Kura sub-city is the latest of these projects scheduled for a 10 months construction period. Friendship and Entoto parks, with the Prime Minister Office overseeing the construction, have beco...