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Eritrea sells luxury houses to earn hard currency
Eritrea Sells Luxury Houses to Earn Hard Currency Source: China Daily | Location: Asmara, Eritrea It may look like a truck park near Asmara’s Halibet Hospital on the edge of town, but the Eritrean government has other plans. Seeking to tap the hard currency held by the country’s vast overseas community, officials are promoting a large-scale housing project aimed at diaspora buyers. Halibet Housing: Scale, Pricing & Target Buyers The project’s website, halibet.com , describes 766 “new residential-style” two- and three-bedroom apartments with shopping centres and sports facilities . Prices range from US$97,000 to US$139,000 —modest by London or New York standards, but far beyond the reach of most locals, whose average annual income is about US$130 . Glossy brochures are available through Eritrean embassies abroad. Payments are accepted in US dollars, euros, and British pounds , but not in nakfa , the national currency—...