Addis Ababa — OVID Group announced today that it is working in partnership with housing development sector stakeholders in Ethiopia with a view to alleviating housing shortage in the country.
OVID Group CEO, Yonas Taddese said the company, which has recently completed the construction of modern residential houses built in 18 months in Addis Ababa, has practically proved that there is huge opportunity in housing industry in Ethiopia.
The company has carried out encouraging achievement since its establishment by employing alternative technologies in the construction sector.
Yonas stressed the need for stakeholders in Ethiopia to enhance their collaboration to ease shortage of housing in the country.
As Ethiopia is a big country with large population all stakeholders in the sector would be successful if they work in close collaboration, the CEO noted.
By realizing this, OVID Group has been making preparations to engage in the development of the sector by establishing partnership with pertinent stakeholders.
"Establishing partnership is vital. We have already introduced new housing technology. However, we cannot cover all the market in the country since it is a big market with large population. The demand for houses is also so huge that it cannot be addressed for the coming 40 years. Therefore, the potential for the industry is high and enough for other companies."
Noting that construction projects in Ethiopia have not been accomplished as per plan, budget and time, he said OVID Group has practically proved that there is new prospect in the country.
He cited the completion of a 12-floor building constructed by a sister company within three months as proof.
The CEO also stated that the company has constructed a 10-floor building within 69 days in Addis Ababa.
According to him, this proves the possibility of completing housing constructions within a short period of time without compromising quality and demand for extra budget.
OVID Group was established in 2013 with the objective of alleviating housing problems in Africa, including Ethiopia.