Gift Real Estate:
Giving Gift By Aklile Tsige The Black’s Law dictionary defines real estate as something that includes the land and anything fixed, immovable, or permanently attached to it such as buildings, walls, fixtures, improvements, roads, trees, shrubs, fences, roads, sewers, structures, and utility systems. Real estate, therefore, can be defined as a property comprised of land and the buildings on it as well as the natural resources of the land, including uncultivated flora and fauna, farmed crops and livestock, water and minerals. Even though most refer “real estate market” to only mean residential living, it can however be grouped into three broad categories as: residential, commercial and industrial. Residential real estate can include undeveloped land, houses, condominiums, and townhomes. Commercial real estate on the other hand can include office buildings, warehouses and retail store buildings. Whereas, factories, mines and farms can be categorized as industrial real estate. Many argue that the advantages to owning real estate are substantial. Real estate is a tangible asset that can provide income you don’t have to work for. Real estate values frequently appreciate. You can buy with borrowed funds, so you can control an entire property while only paying a fraction of its cost. Today, the Ethiopian Real Estate market is hotter than ever, especially after the new reforms being introduced in every sector of Ethiopian society. These reforms have reignited the real estate market in Ethiopia due to the ever growing demand for homes from both the local population and the Diasporas. Gebreyesus Igata is the Founder and Managing Director of Gift Business Group Plc., which is running sister companies, includingone of the leading real estate companies in Ethiopia-Gift Real Estate Plc. He has got over 40 years of experience in trading; he’s an industrialist who earned MBA in International Leadership. Gebreyesus has taken different trainings on business development, and travelled to more than 45 countries to attend conferences, exhibitions and B to B meetings. ABN Editor-in-Chief Aklile Tsige sat with Gebreyesus Igata, to discuss the thirty plus years of company’s successful journey, challenges and the way forward. 36
Abyssinia Business Nework // ABN
Modernizing Transport April 2021
