ADDIS ABABA, June 25 (Xinhua) -- China's Hua Hong Construction Private Limited Company (PLC) on Saturday signed an agreement with an Ethiopian real estate developer NMC Real Estate PLC to build hundreds of high-end apartments in the Akaki Kality sub-city of Addis Ababa, the Ethiopian capital. "Our company selected Hua Hong Construction PLC after we found out that the Chinese company has had a successful track record in effectively accomplishing various development projects in Ethiopia and especially considering its finance and timely delivering capabilities," Mekonnen told media in a briefing. According to the CEO, the Chinese company has successfully completed Ayat Grand Mall and other real estate projects in Ethiopia by using the latest technologies and employing an adequate number of skilled workers. Mekonnen, also the owner of the NMC Real Estate PLC, said the apartments will be sold at a reasonable price in a tripartite agreement to be reached between his company, Commercial Bank of Ethiopia, and buyers. Han Jianyan, general manager of Hua Hong Construction PLC, told the media that his company will build the apartments with high quality and complete them on schedule.

Source: Ethiopian News June 25, 2023 17:23 UTC