Ethiopia’s Dema Hope Reports 11 Active Sites After 30 Months
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Ethiopian developer Dema Hope says it now has 11 active development sites after handing over its second completed project, the 21-storey Bole Adey Abeba, and starting a follow-on build.
Dema Hope Real Estate says it has reached 11 active development sites about 30 months after entering Ethiopia’s property market, the business outlet Birr Metrics reported.
The company completed the Bole Adey Abeba project in 18 months, making it the second development it has completed since entering the market. The 21-storey project was formally inaugurated on October 6 and combines residential apartments with commercial shops, and includes facilities such as a gym, sports field, multipurpose hall and other common-use areas, according to information provided by the company.
Dema Hope said it has completed and handed over two projects to customers during its first 30 months in the sector. It did not disclose the combined value of the two developments, the number of units delivered or total customer sales.
Alongside the handover, the company launched another project at the Bole Adey Abeba location. It said construction has begun on “Adey Abeba 2”, located opposite the completed first project, marketed under the slogan “Repeated as Loved”. Dema Hope also announced a three-day sales and site-visit expo for the new project from September 29 to October 2 at the completed Bole Adey Abeba site.
The expansion comes as developers in Addis Ababa continue to operate in a market shaped by demand for residential and commercial properties, construction costs, access to finance and the availability of land and building materials. Dema Hope has yet to disclose a breakdown of its 11 active sites by location, project size, investment value or construction stage.