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40/60 condominium revised prices, eligibility criteria and other details for June 08, 2017 lottery

40 60 condominium addis ababa ethiopia lottery cbe commercial bank date

UPDATE [July 09, 2017] - 40/60 Condominium Winners List of Names in Addis Ababa Ethiopia 

972 condominium houses are ready for the lottery to be held on July 08, 2017. 374 houses each are available on the lottery for two bedroom, three bedroom and four bedroom houses. The four bedroom 40/60 condominium unit has is a size of 168.68 sqm while the three bedroom has 129.5 sqm and the two bedroom has a size of 124.97 sqm. 

As for the new price, the revised price now stands at 4,918.72 birr per square meter. Accordingly, the new price for four bedroom, three and two bedroom condominium units will be 829,689.69 birr, 636,974.24 birr and 614,693.43 birr respectively. 

11,088 people who have paid 100% in the past 18 months will be included on saturday's lotttery. People who have registered for one bedroom condominium houses are not included on saturday's lottery.

Since the four bedroom condominium apartment was not available during the initial registration period, people who have registered for the three bedroom apartments can take it if they are willing to pay the extra cost. 20 people will be included for each program as a backup. 

Goverment employees who have paid 100% of the total cost will have 20% priority on the lottery while the diaspora community will have 3% priority. 

It was reported that the 725 million birr was subsidized by the government for the construction of 40/60 condominium apartments. 

In addition to the residential condominium apartments, 300 condominium units are available for commercial purpose where an initial bidding price of 17,000 birr per square meter has been set. 

Translation :AddisBiz, Source: FanaBC

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