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By Aiga
Posted to the web on January 04, 2010 |
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January 04, 2010 (ADDIS ABABA) – World leaders are taking notice of land in Debre Zeit. 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.
Former president of Nigeria, Olusegun Obasanjo
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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.
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