Ethiopian Capital to Restrict Lease to Auction

The administration of Addis Ababa, Ethiopia is to centralize its land lease auction process and restrict the means to acquire land in the city through auction according to a draft directive being prepared.The directive is expected to implement the latest urban land leasehold proclamation.

The City administration is centralizing the system in favor of the old practice where the city districts had teams preparing lease contracts, handing over land issuing title deeds ensuring that the lease adheres to the contract agreement.

The new centralized system will address challenges that were seen in the old process including corruption and allow for an efficient and uniform treatment noted Kasim Fite, Head of Land Administration. 

Accordingly the ‘Land Bank’ and the City Renovation Project Office of the administration will handle the auction process according to the new draft directive. The directive calls for an auction execution team which will be in charge of managing and overseeing the process from floating a tender to the administration of the lease contract.

The higher executive body of the Addis Ababa administration will be in charge of the lease process with the involvement of districts limited to processing after the auction including the issue of title deeds and ensuring the implementation of the contract.

The arrangement under the new directive will allow customers to access information from a given location eliminating corruption said Kasim.

Source: Addis Fortune

Exchange Rates

Selling
Buying
USD 35.6248  34.9263 
EUR 39.9925  39.2083 
GBP 42.2175  41.3897 
CHF 35.9068  35.2027 
CAD 23.6332  23.1698 
AED 8.7765  8.6044