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Current Status of 40/60 Condominium in Addis Ababa Ethiopia

Kality Crown Hotel 40 60 Condominium Site Addis Ababa Ethiopia -

UPDATE [July 09, 2017] - The list of names for 40/60 condominium lottery winners were shown on the screen for a live audience on the lottery draw ceremony held on July 08, 2017

UPDATE [JULY 07, 2017] - Details about 40/60 condominium lottery on July 08, 2017 (New Prices, Lottery Selection Criteria and other details)

According to the Addis Ababa Saving Houses Development Enterprise

  • More than 1,200 condominium houses being built under the 40/60 housing scheme will be fully finalized by the end of next month. 
  • Senga tera and crown hotel sites have been finished. 
  • The asphalt road inside the kality crown condominium site has been completed.
  • Construction of the asphalt road that links the Senga tera site with the main road will be started soon. 
  • Installation of power capable and water pipeline has been commenced in both Senga tera and kality crown hotel sites. 
  • 154,000 of the 160,000 people registered under the scheme are saving money each month.
  • Out of these people, 11,800 people have paid the full amount (100%)
  • Around 29,000 people have paid (40%) of the total cost.
  • The ones who paid 100% will have priority when the condominium units are handed over to the home owners.
  • Preparations have been finalized to begin the construction of 20,000 condominium units in addition to the 39,000 units being built in various sites. 
  • The new condominium buildings being built will be 18 storey buildings such as the ones found in Megenagna site.

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