In brief
- On 16 October 2024, Goobjoog News reported that President Hassan Sheikh Mohamud laid a foundation stone for a real estate project named Xeebta-luulka in Mogadishu.
- The report says the project is funded by unspecified Somali entrepreneurs and could accommodate 50,000 people with business, education, health, religious and leisure amenities.
- No details are given on the project's value, funding structure, developer, timeline or current status beyond the ceremony.
On 16 October 2024, Goobjoog News reported that President Hassan Sheikh Mohamud laid the foundation stone for a real estate project named Xeebta-luulka, meaning Diamond Beach, in Mogadishu.
The report says the ceremony took place on a Tuesday, but does not specify a date beyond that. The publication's own item date, 2024-10-16, fell on a Wednesday, so the report's reference to Tuesday cannot be used to establish the exact ceremony date.
Goobjoog News states that the project consists of residential houses reported to accommodate 50,000 people, along with amenities including multiple business complexes, schools, health centres, mosques and leisure centres. The report does not define what the 50,000 figure measures, whether residents, occupants or capacity in some other sense, and it gives no number of housing units.
The project is said to be constructed through the investment of Somali entrepreneurs, but the report names no investor, developer, contractor, consultant or client. It provides no project value, investment amount, funding structure or contract terms.
At the ceremony, President Mohamud urged Somali entrepreneurs to trust the country's progress and invest more in Somalia, according to Goobjoog News. The president said construction of the neighbourhood is "the beginning of a new Somalia that is reshaping its government and competing with the world", and called on businessmen to pay due taxes. He thanked the businessmen for investing in the country and urged support for self-reliance.
Goobjoog News does not report any evidence of work starting beyond the foundation-stone ceremony. The report gives no completion date, timeline for construction or current status of the project after the ceremony. It also does not state whether land has been allocated, purchased or transferred for the development.
Frequently asked questions
Where is the project located?
The report says the project is in Mogadishu, but it does not give a specific location, plot size or land ownership details.
What is the projected cost of the project?
No project value, investment figure or total cost is provided in the report.
Who is the developer?
The report says the project is constructed through investment by Somali entrepreneurs, but no names of investors, developers or contractors are given.