Expatriates return to help rebuild Somalia
Expatriates returning to Somalia are setting up homes in a new high-end complex just 7kilometres outside Mogadishu. The 20 million dollars Daru Salaam estate is seen as offering commercial returns and helping rebuild the nation.
The first phase of this project is the construction of 500 homes. 50 have been built so far, and the owners of this real estate business hope this new housing system will help in addressing the housing crisis that is already being experienced in the capital Mogadishu.
Compared to other real estate business elsewhere in the world, these new houses are sold at an affordable price.
It is the first real estate business in Somalia and its investors have promised to construct beautiful houses with high quality material, with private security for protection and cleaning company.
A two-storey house can cost around $130,000, while a more simple bungalow comes in at around $70,000.