From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Sat Jan 02 2010 - 07:13:07 EST
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World leaders are taking notice of land in Debre Zeit
02.01.2010
The former president of Nigeria, Olusegun Obasanjo, has purchased 20,000sqm
of land in Oromia to invest in the Hotel and Tourism sector. He's not the
only one: the President of Djibouti and Sheik Mohamed Al Amoudi have also
recently secured large plots of land there for investment.
Oromia Regional State has granted 20,000 square meters of land to the former
president of Nigeria, Olusegun Obasanjo, who is now proceeding to invest in
the hotel and tourism sector.
The region has granted him possession of the land, located in Ada Woreda
near Debre Zeit town 50 kilometers East of Addis Ababa.
"We already granted the land a few months ago and the former president is
now preparing to enter the business," Debre Zeit town investment head told
Capital.
The Oromia region has named Debre Zeit as one of its horticulture investment
sites. Currently there are over five investors involved in flower farming
in the town.
Lately however, the region's focus is shifting from horticulture to a
tourist destination.
The town administration has already approved last year's master plan, which
encouraged people to invest in tourism and real estate. There are eight
lakes in the town that are not properly utilized. It is only recently that
tourism became more of a focus. Some three years ago, Kuriftu, a modern
resort center was established attracting others in the area.
Sheik Mohamed Al Amoudi, the Ethio-Saudi billionaire is also developing a
modern resort on Hora Lake.
Obasanjo's recent interest correlates with the town's tourism potential, the
head of the investment bureau said.
Nigeria's former president is not the only foreigner who acquired land in
Ethiopia. Last year the president of Djibouti, Ismael Omar Guelleh, also
obtained 10,000 square meters of lakeside land in Debre Zeit to build a
holiday home.
President Guelleh has also acquired a 3,000 hectare farm in Bale, a
suitable agricultural zone of Oromia region located some 400 kilometers
south of Addis Ababa. The Djibouti government bought the land with the
intention of producing food for the country.
----[This List to be used for Eritrea Related News Only]----
