In a move marked by strategic foresight and geopolitical complexity, Ethiopia recently signed a Memorandum of Understanding (MoU) with Somaliland, paving the way to realising Ethiopia’s aspiration to secure access to the Red Sea. This significant development requires a nuanced understanding of the current status of de facto states, the geopolitical centres of the world, and the intricate dynamics of the Horn of Africa.

What Explains the Sky-High Prices?

In the grand scheme of life, they say your first job is like your first love – a rollercoaster ride filled with thrills, spills, and a hint of naivety. My journey into the world of real estate in Addis Ababa was no exception. Picture it: a fresh graduate architect stepping into the bustling world of property development when nobody knew what real estate even meant! It was like explaining the concept of sushi to a room full of cows.

The Chaka Project, a development project on over 503 hectares of land in Yeka Sub-City leaning on Yeka hill of the Addis Ababa City Administration, has become a pivotal national project. The project, spearheaded by Prime Minister Abiy Ahmed, is part of a grand ‘Smart City’ Development endeavour that would cost more than 500 billion birrs. 

Addis Ababa, the dynamic capital city of Ethiopia, is grappling with an unprecedented housing crisis due to rapid population growth and urbanisation. The allure of Addis Ababa as Ethiopia’s political, economic, social and diplomatic hub has attracted a significant influx of people seeking better livelihoods, safe environment and job prospects. This surge in population, along with other factors, has led to a severe housing, transport and unemployment crisis in the city. It’s even transpiring unheard-of crimes in the broad day, while its impact on providing essential services has grown tremendously.

 In urban planning, few endeavours have sparked as much debate and criticism as the establishment of Sheger City, encircling the vibrant capital of Ethiopia, Addis Ababa. This audacious plan has come under fire from various quarters for many reasons, including its unprecedented nature in city planning, unjust implementation, and questionable long-term sustainability. As stakeholders question its viability, it is imperative to reassess the plan and explore alternative approaches prioritizing equity, inclusivity, and environmental responsibility.

Ethiopian Business Review | EBR is a first-class and high-quality monthly business magazine offering enlightenment to readers and a platform for partners.

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