Commercial Bank of Ethiopia (CBE) disclosed it will hold a lottery draw on July 8, 2017 for houses built under the 40/60 housing scheme. The bank took delivery of the houses from the Addis Ababa Saving Houses Development Enterprise.

The houses that will be passed to the lottery winners once the lottery has been drawn are constructed at Sengater and Crown sites. The lottery is going to be for 1,292 houses which were inaugurated by Prime Minister Hailemariam Dessalegn.

Out of the entire houses, 972 are residents units and the remaining are built for commercial purposes.

Originally the plan by Ministry of Urban Development and Housing was to transfer by the end of the current fiscal year 18,496 houses constructed under the 40/60 housing scheme. Nevertheless, the Ministry has not transferred any house built under the 40/60 housing scheme.

Source: Fana Broadcasting Corporataion