The Chinese real estate company, Tsehay Real Estate Plc, is going to start selling units in the coming October on one of the buildings it is 70 percent complete.

On Thursday, August 14, 2014 the company invited what it called potential buyers, to visit its site around CMC area after announcing it has thus far spent 600 Million Birr on it 12 storey project. According to Deputy General of Tsehay, Yijung Wang, these building that are at different stage of completion will be available for sale when they reach 70 percent completion.

The buildings Tsehay is constructing have multiple types of units. They range from two bed rooms with 140 square meters to five bedroom penthouses of 275 square meters. All of its building will have 646 units out of which 300 of them will have two bedrooms and one guest
room of 144 square meters. They will also have access to parking area for only one car and additional parking place for an extra cost. In addition to this, ground level units will have gardens and units starting from the first floor will have terraces.

According to Wang, all buildings will be completed by April 2016 but residents will have access to their units as every building’s construction is completed.

Tenadam Zewse, Senior Advisor to Tsehay, commented buyers will have to make a 70 percent down payment for the unit they wish to acquire. He added the prices begin at U.S $ 1,100 per square meter and increase as the units get higher on the buildings. This is, according to
Tenadam, because units on top of the building will have better quality and view.

The real estate company is going to start erecting four more building by the coming October, Wang noted. These buildings are going to be for commercial purposes and will be built on 10,000 square meters.

Tsehay Real Estate Plc was established in 2012 by China Geology Corporation Overseas Construction Group (CGCOC) and Red Fox International Business Company.

Source: Fortune