Government steps into Access Real Estate scandal

Ermias Amelga.LitigationjpgAddis Ababa, Ethiopia – The government announced that it has a special committee working to solve problems faced by Access Real Estate Share Company (ARE) and home buyers.

A legal representative of Ermyas T Amelga met with the governmental committee to explore the possibility of the CEO and former broad chairman of ARE returning.

The main committee, chaired by Mekuria Haile, Minister of Urban Development, Housing and Construction (MUDHCo) was established last July to address the problems of those affected by ARE, in three phases.

At a press conference on Thursday at the Ministry of Trade representatives of the technique committee, which is established under the main committee, announced that they are working to solve the problem by utilizing short, medium and long term plans.

The technical committee chaired by Nuredin Mohamed, General Manager of Ethiopian Trading Enterprise (ALLE) and advisor at the Ministry of Trade (MoT), stated that the government will solve not only ARE’s problems, but other issues  related to the sector.

“In the short term we will solve problems related with the company and home buyers, and then we will focus on the issues related to third parties that have a stake in the company,” Nuredin said.

The long term will focus on not only on the Access issue but it will examine the real estate business, lease proclamation and issues related to the regulation of the general share companies and their interaction with government policy directions, according to the technical committee chair.

Read more at: Capital Ethiopia

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