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City administration prepares new house ownership scheme

Mayor of Addis Ababa Driba Kuma has revealed that a new housing plan has been prepared to enable citizens who have smaller income and that did not register to buy condominiums in previous listings, become house owners.


The new scheme is especially tailored for people who have smaller income and are not able to save in order to be included on the current housing schemes. The mayor said applicants can register at their surrounding woreda offices to be considered in the program that will start in the coming year.
More than 22,000 people were registered in the previously started 10/90 housing program which targets particularly low income groups of the society. So far,the city administration has transferred 1,000 houses to the 10/90 scheme clients and another 35,000 houses will be handed over to those on the 20/80 scheme waiting list. Recipients are identified through a lottery draw.
According to the city administration report, 9.2 billion birr was spent for building the condominium houses with a government subsidy of an additional 7.2 billion. “We have seen that some people did not register due to financial problems but are desperately in need of housing. After a long discussion with stakeholders, we have prepared a plan to include such people in the program and we will start to build the houses starting from the next budget year’’ Driba said.
However, the mayor did not comment on  the payment conditions.
The mayor also called on local contractors to participate in the construction of condominium houses, which is currently carried out on the government’s budget. “Like real estate houses, we need local investors to invest on condominium houses. We are willing to give them land if they are interested to build the condos and sell them.’’
“More than 900,000 people have registered in the condominium scheme. If local investors involve in these projects, the number of house that will be delivered yearly will also increase.”
The mayor had said the city administration is considering to call in foreign investors to develop  condominiums as well.
“Foreign investors have shown their interest to build condos but we have to check our policy, the job opportunity, the design, and the cost before we allow them to enter in to the business.’’
In the past ten years, 136,000 houses were transferred to lucky winners and the administration had already promised to deliver 75,000 more houses this fiscal year.
In another development, the Addis Ababa Housing Development Administration Agency disclosed that it has prepared a reward for informants who will tip off the agency of people who own condominium houses while owning another property .
Mesfin Mengestu, Head of the agency said, “We have to work fairly. We do not tolerate people who have a house and scramble for a condominium . The government alone cannot sort these problems and we need people to inform us about house owners who have a condo plus another house.”
Winners of the 10th round draw for the 10/90 houses will pay 1,910 birr per square meter,  and studio winners pay 2,483 birr, and one bed room winners will pay 3,438 birr per square meter.
The administration stated that the houses which are found in Yeka Abadu, Ledetta, and Arat kilo sites will be transferred to the winners in two months time.
Customers who saved money for 16 months in a row are selected on the 10th round houses’ transfer lottery.
Around 1,200 houses of the 40/60 program and more than 30,000 condominium houses are expected to be transferred to winners until the end of this Ethiopian year.

Tags: Condominium Construction in Ethiopia,, 40/60 Condominium, , 20/80 Condominium,, 10/90 Condominium,, 40/60, 20/80 & 10/90 Condominium Construction in Addis Ababa

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