Abu Dhabi developer Eagle Hills this week launched a sales campaign for the first residential tower of La Gare, a 36ha mixed-use development planned for the site of Addis Ababa’s former central railway station.
Some 1,200 potential buyers were introduced to One, La Gare – a 21-storey apartment block with 87 units – at a three-day event at the Hyatt Regency in the Ethiopian capital.
Attractions include 24-hour security, resident parking and “an expansive lobby”.
Eagle Hills is developing La Gare along with Addis Ababa’s city government.
Set to cover 360,000 square metres in the city centre, on the former site of the capital’s central train station, La Gare, from which the scheme takes its name, the development is the first foray into Ethiopia for Eagle Hills, established in 2014.
In its press release, Eagle Hills said the scheme, described as “a secure and exclusive setting surrounding a park”, had the “patronage” of Ethiopia’s new prime minister, Abiy Ahmed, whose government would aim to develop a social housing component in the masterplan to accommodate residents now living on the site.
The developer said the project “consolidates Eagle Hills’ mission of developing integrated communities in emerging markets”.
When complete, it will be a $1.5bn complex offering 4,000 homes, along with hotels, retail and leisure amenities.
If the development is successful, it will be a sign that Addis Ababa can sustain a commercial property market, which will, in turn, stimulate its design and finance sector and attract outside investment.
It will also mark a victory in Ethiopia’s struggle to achieving middle-income-country status.
Low Ping, the chief executive of Eagle Hills, said: “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 unveiling comes 14-months after Eagle Hills announced its plans to develop the project, its first in Ethiopia.
Header Image Credit: Render courtesy of Eagle Hills