UAE Real Estate Developer Reportage Eyes Ethiopia as Key Investment Hub

Addis ababa: Ethiopia's rapid infrastructure development and growing openness to foreign investment are strengthening its potential to emerge as a major investment hub in Africa, Fabrizio Grasso, CEO for Africa at Reportage Group, told ENA. Grasso highlighted the visible growth across Addis Ababa, with ongoing infrastructure developments showcasing the country's promising prospects.According to Ethiopian News Agency, Grasso expressed confidence in Ethiopia becoming the center of Africa, emphasizing its potential as an international hub in various sectors, including industrial. He commended the Ethiopian government's efforts to attract foreign investment, noting the country's quick opening to the international market, which presents opportunities for companies like Reportage to expand into the Ethiopian market.Reportage's entry into Ethiopia is part of its comprehensive expansion strategy across Africa. Currently operating in eight countries, the company is keen to further its footprint on the continent. G rasso sees strong potential in Ethiopia's burgeoning real estate market and aims to contribute to the country's development. 'Definitely, the real estate market in Ethiopia is growing very, very quickly, and we want to be part of that,' he remarked.Aligning its projects with Ethiopia's Green Legacy initiative, Reportage plans to leverage its experience in green building and advanced technologies, notably renewable energy solutions. The company has previously implemented green-building technologies in projects in Masdar City in the UAE and intends to adopt similar approaches for its developments in Ethiopia.Grasso emphasized the significance of Reportage's first project in Ethiopia, predicting that it will become a landmark in Addis Ababa. He noted the importance of launching a first project in a new country, as it represents a pivotal moment for the company. The partnership between Reportage Group and the Ethiopian Defense Army Foundation, established after thorough discussions, facilitated the company's inaugural project in Ethiopia.