The Addis Ababa Saving Houses Development Enterprise (AASHDE) is planning to construct 75,000 new condominium units under the 40/60 scheme within five years, The Capital reported.

AASHDE also targets to build 15,000 residential units featuring new designs in the coning Ethiopian year.

As part of the new feature in the experimental design, increase in the number of floors per building from the current 12-floor design to 15-storey buildings is being tested on one building in Haya Hulet area.

There are 33,253 condominium units currently that are under construction on 12 sites.

Commercial Bank of Ethiopia’s report states there are 156, 932 people registered for 40/60 condominium units. 9,584 paid the full price. As of June 2015, 10 billion Birr was collected from clients under this housing scheme.

Source: Capital