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Tsehay Real Estate Start Sales In October

Tsehay Real Estate Start Sales In October

By Dawit Endeshaw, Addis Fortune Addis Ababa, Ethiopia – Tsehay Real Estate plc, the Chinese real estate company building 13 apartment buildings, will start selling units in October on one of the buildings which is now 70pc complete. The company invited a number of potential buyers for a site visit to the CMC area on […]

Diaspora Homebuyers’ Hopes Dashed

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Diaspora Homebuyers’ Hopes Dashed

More than a decade later, promises made by Habitat and Berta have failed to be delivered. By Fasika Tadesse Addis Ababa, Ethiopia – Homebuyers who purchased real estate from Habitat New Flower Homes Plc have appealed to the Ministry of Justice (MoJ) and the Economic & Diaspora Department of the Ministry of Foreign Affairs (MoFA) […]

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Over 225,000 condos to be built in Addis

Addis Ababa, Ethiopia - The Ministry of Urban Development, Housing and Construction said that over 225,000 condominiums would be built in Addis Ababa over the coming two years. Minister Mekuria Haile told ENA that financial and other inputs have been readied to launch the project. Indicating that housing construction has been underway in different parts of […]

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The ruling of the Supreme Court sets the bar high for all real estate developers in the country. Addis Ababa, Ethiopia - Country Club Developers (CCD) is to restore contracts with six clients for luxury villas it had previously annulled and pay them compensation of up to 10pc for the 1.7 million Br to 3.1 million […]

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Real Estate Firm to Offer Ready-Made Space for Sale

After the well publicised Access Real Estate debacle, buying already completed properties should prove to be popular. Addis Ababa, Ethiopia – Noh Real Estate will begin selling business, office and residential spaces at Abyssinia Mall and Jember Residential Village on Monday, December 30, 2013, Fortune learnt. Noh, established in 2007 by three brothers, is a […]

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Addis Ababa, Ethiopia - The Chinese construction giant CGC Overseas, in partnership with two other Chinese companies, has finalized a deal to join the upcoming real estate sector in Addis Ababa with an estimated capital of 2 billion birr, The Reporter has learnt. Together with CGC Overseas, Hansen, which owns a cement factory near Koka, and […]

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With an increasing number of legal suits being filed, homeowners are losing hope in revitalising the company. Addis Ababa, Ethiopia – Gabby Investments Plc, a grade one contractor, has become the latest party to wage a court battle against the nearly-defunct Access Real Estate S.C. (ARE). It filed a suit at the Federal High Court […]

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Representatives of the central homebuyer’s committee are determined that ARE will carry through with its construction promises. Addis Ababa, Ethiopia - Board members and representatives from the central homebuyers’ committee of Access Real Estate (ARE) have jointly selected ASGB Chartered Accountants to re-audit the 2012 financial statements of the troubled company, for close to 640,000 Br. […]

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Addis Ababa, Ethiopia – The Addis Ababa City Administration Land Development and Management Office has launched an investigation to look into the way that Access Real Estate (ARE) acquired various plots of land around the city for the construction of units bought by its 2500 customers. The city has confirmed that so far not one […]

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Chinese Company Targets Real Estate Makeover

By Ashenafe Endale Addis Ababa, Ethiopia – High profile legal battles have seen trust evaporate from Ethiopia’s thriving real estate sector. The China Geo-Engineering Corporation (CGC), which has previously been engaged in the road construction sector in Ethiopia, two weeks ago started the construction of an international standard real estate complex, with three billion Birr […]

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