In addition to the ongoing construction of low cost houses, the Addis Abeba Saving Houses Development Enterprise (AASHDE) has embarked on the construction of new condominium houses at a cost of more than one billion Birr, Fortune learnt.
This project, which is located at the Ayat bole site, will see the construction of about 6,561 houses on a 49ha plot of land under what is known as 40/60 housing scheme. This is the ninth site for the construction of houses under this scheme.
The construction of 6,048 houses under this scheme are taking place at eight sites in four districts in city as of June 2013. The construction progress reached an average of 19.15pc in April, 2014. The highest progress achieved is at sites in Lideta District, with 45.4pc of construction completed, with the lowest progress at a site in Kolfe Keranio District, progressing by 12.4pc.
City residents registered under this scheme must save 40pc of the value of the houses within five years and the government arranges a loan for the remaining 60pc from the Commercial Bank of Ethiopia (CBE). They achieve this by mortgaging the house to be transferred to the user upon completion.
The new construction site will accommodate a total of 133 blocks with a varying number of storeys. Eighty of the buildings will have seven floors with a basement, while 35 of them will be nine storey apartments with one basement. The remaining 18 will have twelve floors with two basements.
The construction of the 12 storey buildings will be conducted by nine grade one contractors, and those with nine storeys will be erected by 16 grade two and two grade one contractors. The grade three contractors will participate in the construction of the seven storey blocks of the new site, according to Yohannes Abayneh, head of Communications at the Enterprise.
Fifty-one contractors have signed a construction agreement with the enterprise out of the total 57 contractors that will erect the apartments, according to Yenus Muhammed, general manager of the branch two office of the Enterprise. These are on the way to commence construction, while the remaining six are soon to sign a contract with the enterprise, he said.
A soil compatibility study has been finalised and the contractors are making the land ready for construction. Some already started the construction last week, Yohannes told Fortune.
Source : Addis Fortune
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