Ethiopian Informer
ADDIS ABABA: January 23 (EI) – The Abu Dhabi-based real estate company, Eagle Hills, has launched its first residential tower in Ethiopia’s capital Addis Ababa as part of its La Gare project, one of Ethiopia’s largest mixed-use developments.
The three-day launching event, which brought more than 1,200 potential investors last week at Hyatt Regency Addis Ababa, demonstrated the ONE La Gare project, which is said to be a joint venture between Eagle Hills Ethiopia and the Addis Ababa City Administration and expected to offer 187 world-class urban living residences, the developers announced on Tuesday.
The 360,000-sqm development is also expected to create “a new dynamic downtown in Addis Ababa, with more than 4,000 residential units, alongside a unique lifestyle, hospitality, retail, commercial and leisure offering.”
Low Ping, CEO of Eagle Hills company, said during the launching event that the La Gare “is a truly unique development, and a real representation of our passion for creating new, exciting destinations around the world. With an unrivalled residential, commercial and leisure offering, La Gare is set to become the beating heart of Addis Ababa, delivering major benefits to local communities and the economy through commerce and job creation.”
“The launch of ONE La Gare represents a major step towards the realization of this vision, and we look forward to introducing this landmark development to prospective owners and residents,” the CEO added.
Standing at 21 stories tall, ONE La Gare houses one- to four-bedroom units that offer striking skyline views of the city, as well as an expansive lobby with abundant natural lighting. The building is equipped with 24-hour security and a resident parking at the podium level.
La Gare, a French work that literally translated as ‘The Station,’ is being developed on the former site of Addis Ababa’s main railway station.
“Once a central part of the capital and a key connector route into the city, La Gare is once again set to become a major commercial and residential destination,” the real estate firm disclosed.
Anchored by four and five-star hotels, and supported by retail outlets, offices and residential buildings, La Gare is 20 minutes away from the Addis Ababa Bole International Airport, offering easy access to the historic Legehar Train Station, as well as the Addis Ababa Central Business District.
Eagle Hills is an Abu Dhabi-based private real estate investment and development company focused on the development of new city hubs in high-growth international markets. With a focus on developing large-scale real estate projects, Eagle Hills designs and implements mixed-use facilities.
These communities draw on the latest technologies to build smart and sustainable projects that add significant value to the local economy. The company is currently developing projects in UAE, Ethiopia, Bahrain, Serbia, Morocco, Oman and Jordan.
