Eagle Hills unveils first tower at Ethiopia’s $1.5bn La Gare scheme
Abu Dhabi developer Eagle Hills this week launched a sales campaign for the first residential tower of La Gare, a 36ha mixed-used development planned for the site of Addis Ababa’s former central railway station.
(globalconstructionreview)—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.
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.
Image: La Gare, in Addis Ababa, will be “a secure and exclusive setting surrounding a park” (Render courtesy of Eagle Hills)