VOICED : Somalia housing boom as Mogadishu emerges from ashes of war

Mogadishu, once known for its colonial villas, is experiencing a transformation with a new housing estate funded by the Somali bank Salem. This project aims to provide affordable homes for Somalis, especially those leaving overcrowded Mogadishu. The development is part of an economic boom as diaspora Somalis return, capitalizing on the city's relative peace. Despite security challenges, such as car bombs and insurgent threats, the project reflects progress. However, economic disparities remain, with the local GDP per capita significantly lower than the Sub-Saharan average. The new neighborhood symbolizes Somalia's rebuilding efforts.

What is the primary goal of the new housing estate funded by the Somali bank Salem?

• To build a tourist attraction

• To provide affordable homes for ordinary Somalis

• To establish a new business district

• To create luxury villas for wealthy investors

What is a key selling point of the new housing estate?

• Luxury amenities

• Proximity to the beach

• Historical significance

• Safety and security

Who are the primary investors driving the economic boom in Somalia?

• Foreign governments

• Local farmers

• International tourists

• Returning diaspora and local businessmen

What challenges do locals face in purchasing homes in the new estate?

• Strict government regulations

• Economic disparity and low GDP per capita

• Lack of available properties

• High crime rates

What motivates returnees like Optical Dargom Ali to come back to Somalia?

• Opportunities in the tourism sector

• Family reunification

• Nostalgia and a sense of national progress

• Desire to invest in local businesses