The Addis Ababa city administration has announced 51,229 residents to whom condo units will be transferred on a lottery draw. The condos were built under the 20/80 and 40/60 housing schemes, Engineer Senait Damtew, head of the city’s housing administration and development bureau related.

The 20/80 and 40/60 schemes mean that the residents should save up 20 and 40 percent of the total cost of the housing units, respectively, to be considered for the lottery draw. The remaining amount is to be mortgaged.

Of the 51,229 condo units, 32,653 are built under the 20/80 scheme, while the rest, 18,576 are built under the 40/60 scheme.

Out of those built under the 20/80 scheme, 1,248 are studio, 18,823 one-bedroom, 7,127 two-bedroom, and 5,455 three-bedroom condos; while out of those built under the 40/60 scheme,

Takele Uma, Deputy Mayor of Addis Ababa City, speaking during the lottery draw ceremony said his administration has made all necessary efforts to ensure that all parts of the city community benefit from the housing projects.

Jantirar Abay, City Development and Construction Minister, for his part said, the government has been working hard to alleviate housing problems and they are achieving some results. He also said the housing projects have created job opportunities as well.

The minister further noted that over 385 thousand housing units have been built by the government in Ethiopia for the past 13 years, and job opportunities have been created for about a million citizens.

Studies indicate that 471 thousand new housing units should have been built in the mentioned period of time to keep up to the housing needs in Ethiopia. Mr. Jantirar added that the government will strive to fulfill the need by involving the private sector as well.

Source: Fana BC, Walta Info