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Supply Gaps Fuel Rental Increases
Cheffe Condominium (Photo: Addis Fortune.com)
Addis Ababa, Ethiopia -Â Abdulkerim Ali, 25, left war- ravaged Somalia three years ago, and headed for Ethiopia hoping for a better future. He made his way across the border with three of his friends and proceeded to Addis Abeba, where all four registered as refugee students.
They were awarded close to a 200 dollar monthly living and educational stipend....
Federal Court Country Club Ruling Favours Homebuyers
Country Club Developers Homes – CCD (Photo: AddisFortune.net)
With an increasing number of real estate firms being taken to court, this verdict is a milestone moment.
Addis Ababa, Ethiopia -Â A judge at the Federal High Court ruled in favour of six plaintiffs who sued Country Club Developers (CCD) PLC for breach of contract. The verdict, handed down two weeks ago, stated that the real estate...
An insider view of the inflamed real estate sector
Messele Haile (Photo: thereporterethiopia.com)
Addis Ababa, Ethiopia -Â Messele Haile (Ph.D.) is a civil engineer by profession who is a shareholder and general manager of a local real estate company called Country Club Developers (CDC).
Mesele is also owner of the local architectural firm, MH Designs, and a lecturer at the Ethiopian Institute of Engineering and Building Construction (EiBC).  Given...
Access Real Estate Saga Continues with Five Lawsuits
Access Real Estate (Photo:accessrealestatesc.com)
Addis Ababa, Ethiopia -Â Access Real Estate SC is facing five suits at different benches of the Federal High Court, seeking refunds of deposits paid for houses, which the company has failed to deliver.
The company, established in 2008 by 652 shareholders with a capital of 35 million Br, has received partial and full payments from 2,000 clients wishing...
Habesha promised to transfer houses to its clients this year
Eskender Desta of Habesha Construction
Addis Ababa, Ethiopia - Habesha Construction Materials and Development SC (HCMD), a company largely engaged in the real estate development, announced that it is going to transfer 10 percent of the houses it is constructing to its clients this year. HCMD is constructing 800 houses in Addis Ababa.
The share company was established two and half years ago to fill...
Access in ‘Bank Run’ State!
Ermias Amelga
Addis Ababa, Ethiopia -Â By his own admission, founder of Access et al, Ermyas T. Amelga, has collected over 1.3 billion Br from the public, through Access Real Estate SC, a company he helped establish and where he controls a majority share, alongside Access Capital Services SC. Yet, his closest business associates estimate the figure could be as high as 1.7 billion Br, mobilised from...
A roof over one’s head
Addis Ababa, Ethiopia-Â Located fairly conveniently in Addis, the Gotera condominium compound is breathing new life into what used to be an uninspiring living quarter in the capital. A neighborhood previously known as Teshale Garage, named after one of the oldest vehicle workshops in the city, the site where Gotera condominium is built, was an ammunition depot under the Derg.
The store was razed down...
Administration to transfer 7,300 condos to beneficiaries today
Addis Ababa, Ethiopia (WIC) – Some 7,300 condominium houses will be transferred to residents of Addis Ababa City Administration today, Administration’s Construction and Housing Development Bureau said.
Bureau Head, Getachew Hailemariam, told journalists here yesterday the condos will be transferred in a lottery draw to be broadcasted live on ETV2 in the presence of observers.
Getachew indicated...
Access Real Estate partners with Dubai-based Soliton Holding
Addis Ababa, Ethiopia – Access Real Estate on Tuesday signed an agreement with a Dubai-based company Soliton Holding that would enable it to jointly develop its housing projects.
The agreement is said to be worth two billion birr. At a press briefing held at the Sheraton Addis, executives of the companies said that Soliten would make substantial investment in the ongoing projects of Access...
