Chinese companies to build condominiums in Addis
Addis Ababa City Administration that has planned to build 50,000 condominium houses per year is now turning towards Chinese companies to boost the number towards 100,000 condominium houses per year.
To deliver houses to more than 800,000 registered inhabitants and for the additional 136,000 who registered in the 40/60 scheme, the company’s plan of building 50,000 condominium houses per year was thought to be too far below the desired rate of building.
As sources indicated, a preliminary talk has been conducted between the Chinese companies and the City’s Administration on the matter. Since the city’s administration is not capable financially to build more than 50,000 condominium houses per year, it was only those companies that can bring finance for the project which are favorable by the city administration.
And it is none other than the Chinese companies that can be able to get finance this way; as some commentators on the issue pointed out.
Girum Tebeje
Image Above is from Lideta Condominiums
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