Addis Ababa, EthiopiaAccess Real Estate on Tuesday signed an agreement with a Dubai-based company Soliton Holding that would enable it to jointly develop its housing projects.

The agreement is said to be worth two billion birr. At a press briefing held at the Sheraton Addis, executives of the companies said that Soliten would make substantial investment in the ongoing projects of Access and it would also assume the management of the construction of the residential houses in Addis Ababa. Officials of the company said Soliten was managing construction projects worth 30 billion dollars in different countries.

In addition to the businesses it runs in Dubai, Soliten is active in Hong Kong, Germany and in different African countries. The board chairman of Access Real Estate, Ermiyas Amelga, said that the agreement is a milestone in the real estate sector in Ethiopia.

“The partnership would contribute to the development of the real estate sector and it will bring about knowledge transfer,” Ermiyas said.

The managing partner of Soliten Holdings, Yergen Ehri, said that the economic development being made here attracted them to Ethiopia. “Considering the ongoing economic development of the country, we have decided to invest in Ethiopia via Access,”

Yergen said. He added that his company would invest in the real estate sector in other African countries. Soliten will invest in Access and it will also manage the constructions being undertaken by Access.

About Soliton Holding

Soliton Holding is a Dubai based company with offices in Hong Kong, Germany, UAE and Africa. The company was founded to focus on five specific areas: Energy, Real Estate, Bio Fuel,Trading and Financial Services. Soliton Holding will in many projects also provide the necessary funding to create a true turnkey solution.

The core of Soliton Holding is an elite group of founders who’s purpose is to turn knowledge into value for the benefit of our projects and clients. Our management team has held CEO positions in public traded and private companies alike and has executed jointly projects with a combined value exceeding $US 30 billion.

Sources: Ethiopian Reporter and Soliton Holding

 

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