Cost for Middle Class Public Housing Spike in Ethiopia

By Berhane Hailemariam

The Addis Ababa Saving & Housing Development Enterprise handed over 1,292 houses to the Commercial Bank of Ethiopia (CBE)

The Addis Ababa City Administration unveiled the cost revision of middle-class public houses just two days before it announced the raffle winners of 972 residences, raising the cost of all types of apartments by 56pc to 4,918 Br a square metre.

The winners of the raffle were announced on July 8, 2017, at the premises of the Addis Ababa City Administration Council. The winners were drawn from 11,088 registered citizens who have already paid their due payment in full after saving for more than 18 months.