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Addis News
   
 Addis Ababa City transfers 15,000 condominium houses to residents  

 Ethiopia News, Ababa Ethiopia   Ethiopian News, Addis Ethiopia

Ato Kefualew Azeze and other officials at the lottery draw event.

Addis Ababa, Ethiopia, February 17, 2009 (Ezega.com) – A lottery draw was held today to transfer condominium houses from Addis Ababa City administration to private owners. The ceremony was conducted at the City Hall in Addis Ababa.

With this draw, the Addis Ababa Housing Development Project Office effectively transferred 15,039 condo units to the lottery winners, making more than 15,000 residents of Addis Ababa new home owners.
 
During this event, the Deputy Mayor of Addis Ababa city and Head of Information and Culture Bureau, Ato kefyalew Azeze, and other high ranking officials were present.
 
Ato Kefyalew Azeze said “Our plan is to distribute 70,000 houses during this fiscal year. We are transferring 15,039 houses today to the lottery winners. We believe this will partially solve the housing problem we are currently experiencing in the city.”
 
This is the fourth of such transfers the city administration has conducted so far. During the first three rounds, the city transferred ownership for 36,000 condominium houses.
 
It was also disclosed that the housing agency is building 43,000 new condominium houses to be distributed to private citizens in the future. Construction of these houses is said to be 80% complete and will be completed shortly.
 
On this lottery program, 30% of the houses were reserved for women, and the remaining 70% were given equally to both men and women who won in the lottery draw. Higher priority was given to women so as to help them with the acute economic problems they are facing and to improve their role and capacity in the society.
 
People who won in the condominium housing lottery are expected to pay 20% of the total amount in advance. The rest will be paid in installments over many years. The payment schedule is set as follows.
 
For studio condo unit, the total amount due is 27,797 Birr, and the down payment is 6789 Birr.
 
For one bedroom condo unit, the total amount due is 80,994 Birr, and the down payment is 17,866 Birr.
 
For two bedroom condo unit, the total amount due is 114,169 Birr, and the down payment is 24,713 Birr.
 
For three bedroom condo unit, the total amount due is 148,680 Birr, and the down payment is 31,961 Birr.

Finally, Ato Kefyalew congratulated the lottery winners and advised the new home owners to keep the houses in good condition and to contribute all they can to make the city beautiful.

For more information on this story, please visit Addis Ababa City website here: http://www.addisababacity.gov.et/

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Lealem Desta

 

This article was written by Lealem Desta reporting for Ezega.com from Addis Ababa, Ethiopia. She can be reached by email at News@Ezega.com. The article can be reprinted in full or in part elsewhere but only by giving full credit to Ezega.com. If reprinted on a website, we ask that you place this active link: Ezega Ethiopian News, pointing to http://www.Ezega.com

 
 

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