The city administration of Addis Ababa, Ethiopia is to launch a new low cost housing scheme soon.

The new program is intended to meet the needs for middle income residents who are able to make the 40% down payment on the price of the housing before acquiring the home and the remaining 60% to be paid over a period of time that will be determined by the administration when the project is officially launched according to sources.

The houses under this scheme are planned to be of a higher quality and more spacious then those constructed in the condominium development program.

Registration for the new program will begin soon according to Mekuria Haile, Minister for Urban Development and Construction.

The design of the houses has already been done, and prices have been sent as well as initial screening on potential contractors said Mekuria.

It is to be remembered that the city has finalized preparations to construct 35,000 condominium houses in the next financial year said the Construction and Housing Development Bureau of the administration.

The houses will be constructed at the Yeka Abido, Arab and Kilinto sites all reserved for the construction of condominium housing said Getachew Hailemariam, Head of the Bureau. 70% of the houses are designated for low income households he noted.

The administration expects to build more than 170,000 condominiums in the coming three years he added.

The buildings are intended to be cost effective and in line with master plan established for the city explained Getachew. More than 340 local contractors are expected to take part in the construction activities.

Source: Capital