19 Jun 2015 - Ethiopia (Addis Ababa)
I am in Addis Ababa in Ethiopia. The temperature is more like the UK, so it is a relief after the heat of Djibouti.
There continues to be a lot of property development here, particularly hotels which is a sector that attracts duty concessions, making construction costs around 35-40% lower.
Whilst there are only four international hotels (Hilton, Sheraton, Radisson Blu and Golden Tulip), there are around a further eight coming including a Pullman, Crowne Plaza and Marriott. Sheraton is the highest cost on this market at around USD 260 per night.
In terms of local brands, there are literally thousands of rooms coming to the market, with a major cluster along Cameroon Street and around Edna Mall, but also along Bole Road.
Today, I visited some of the retail areas including Piassa (old city centre) and Merkato, which is supposed to be Africa's largest open market. Items here tend to be cheaper although lower quality than found in the modern malls in Bole, Bole Medanealem and Megenagna.
Shopping in Merkato