Ethiopia procures elevators for middle-class condominium houses

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Ethiopia procures elevators for middle-class condominium houses

The Addis Ababa Savings & Houses Development Enterprise (AASHDE) is procuring 338 elevators for middle-class condominium houses that are currently under construction. The procurement is estimated to cost the firm $17.2m.

The Enterprise recently handed over 876 housing units to the Commercial Bank of Ethiopia (CBE), which is entitled to deliver the houses to the registered homebuyers.

Out of the total buildings, 12 of them are nine-storey buildings located at Crown site while the remaining 12-storey buildings are located at Senga Tera site.

According to Yohannes Abayneh, head of communications affairs at the Enterprise all of the 17 buildings have elevators. Of the 876 units handed over, 320 are for commercial purposes.

Among the lifts procured, 20 are for seven and twelve-storey buildings, 74 for 10 and 13-storey condos, 68 for eight and 13-storeys buildings with and without basements, 88 lifts for eight and 10-storey buildings and 88 more for eight, 10, 13, and 18-storey buildings.

Also read:Ethiopia banks on condominiums to boost housing

One, two and three bedroom houses under the middle-class scheme cost $6,966, $10,750 and $16,598 respectively. However, following the price escalation of construction input materials, the Addis Ababa City Administration decided to revise the cost of the houses.

Following this, the Enterprise made a cost assessment and submitted the findings and recommendations to CBE.

Since 2013, the Enterprise has been constructing houses in three phases. The condos have eight to 18 storeys. The number of buildings is 371 having 39,229 units, located at 13 sites across the city. For these houses, a total of 168,000 people registered to get the houses.

40% of the cost of the homes is covered by the homebuyers while the government covers the balance in a loan arrangement. The homebuyers will pay the mortgage in five years by saving a deposit every month at CBE.

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