Update [July 02, 2015] - 1,292 40/60 Condominium units to be transferred to home owners
The Addis Ababa City Administration Housing Administration and Development Agency has handed over 35,000 condominiums to beneficiaries on Sunday March 22. The ceremony was held at the Addis Ababa Theater and Cultural Hall in the presence of Minister for Urban Development, Housing and Construction, Mekuria Haile and Mayor of Addis Ababa Driba Kuma. The condominiums are located at Basha Wolde, Yeka Abado, Tulu Dimtu, Lideta Meliso Malmat and Genet Menefesha.
Addis Ababa Saving Houses Development Enterprise announced that it will hand over 1, 292 houses built under the 40/60 scheme to registered city dwellers this Ethiopian fiscal year, some time around July 07, 2015. Over 450,000 citizens engaged in small-scale enterprises have benefited from the project thus far.
General Manager of the 40/60 Condominium Development Program, Kinde Bizuneh told ENA that the houses to be handed over are at Sengatera and Crown sites. The construction of 15,000 additional houses will be launched this Ethiopian budget year, he added.
Recalling the construction of 13,000 condos launched this Ethiopian budget year, the general manager said 30,000 houses are currently being built in the capital. Alongside reducing shortage of houses in the city, the 40/60 housing development project has raised the culture of saving, it was learned.
According to Yidnikechew over 6.3 billion birr has been allocated annually for the construction of 10/90 and 20/80 condominiums.
Over the past 10 years half a million citizens have benefited from the housing program, he said, adding that over 26 billion birr was allocated and 105,000 condos transferred.