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Key Contacts

Africa Valuations

Addis Ababa | Ethiopia

Ethiopia is one of the fastest growing economies in Africa, averaging GDP growth of approximately 10% p.a. in the last decade.

Market highlights

  • It is the second most populous country in Africa, with a population that is set to rise above 100 million by 2020.
  • Economic growth has been fostered by government spending on infrastructure and by policies aimed at encouraging investment.
  • Major infrastructure projects in Ethiopia include the Addis Ababa Light Rail and the Addis Ababa–Djibouti Railway.
  • Addis Ababa is in the midst of a construction boom, but there are still few commercial buildings built to international standards.
  • Given its huge population, the Ethiopian retail market has great potential, but it remains untapped by international retailers.

 

Property market data

 

Prime rents

Prime yields

Office

US$ 25/ sq m/ month

6%

Retail

US$ 33/ sq m/ month

6%

Industrial

US$ 7.50/ sq m/ month

10%

Residential
(4 bed exclusive house)

US$ 6,000/ month

8%

 

Market statistics & forecasts

Ethiopia population - 99 million

Ethiopia population forecast, 2025 - 125 million

Addis Ababa population - 3.2 million

Addis Ababa population forecast, 2025 - 4.7 million

Ethiopia GDP growth, 2016 - 6.5%

Ethiopia GDP growth forecast, 2017 - 7.5%

Ethiopia GDP (PPP) per capita, 2016 - US$ 1,916

Ethiopia urbanisation rate - 20%