Ethiopia to construct 8,428 homes under middle-income housing scheme

Ethiopia to construct 8,428 homes under middle-income housing scheme

Ethiopia is set to construct 8,428 homes under the middle-income housing scheme.This is according to the Addis Ababa Savings & Houses Development Enterprise (AASHDE).

The houses to be developed in Addis Ababa will be set up on a 38ha piece of land in Bole District. They will be constructed around Bole Arabsa and be enclosed in 54 buildings where 40 of them will have 15 storeys while the remaining will have 13 storeys and two basements.

The homes will consist of one, two and three bedrooms having 59sqm, 75sqm and 100sqm floor areas respectively.Commencement of the construction is projected for beginning of the upcoming fiscal year with completion anticipated to be in a two-year period.

AASHDE is currently in the process of reviewing the bidding documents of the consultancy firms that are vying to supervise the construction of the buildings.

Also Read: Housing in Ethiopia project set for 700,000 condominiums

The Enterprise has constructed over 38,000 homes in the middle-income homes scheme since 2013. Last year in July, it drew a raffle for 876 middle-income houses located at Senga Tera and Crown sites, through the Commercial Bank of Ethiopia (CBE). These houses were found in 17 buildings, and 320 of them were for commercial purposes. For three homes, 164,779 individuals have registered and opened a blocked saving account at the CBE.

However, CBE recently disclosed that 35,880 people withdrew their savings, 20,041 individuals have deposited the full amount, and 47,139 have saved and are saving 40pc of the total amount of the housing units.

In addition to the middle-income housing scheme, two other schemes – middle-lower income and lower-income – are also under implementation by the city administration. The projects kicked off with the main aim of replacing substandard residential units in the city, on top of satisfying the housing demand of the city’s inhabitants. For these housing schemes, a total of one million home-seekers are registered.

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