Enterprise to transfer over 20,000 houses of 40/60 condominiums

The Addis Ababa saving houses development enterprise said that it has targeted to transfer over 20,000 40/60 houses under 40/60 housing scheme during the next budget year.

Head of the enterprise, Haile Keana told WIC that a total of 39, 229 houses of 40/60 housing scheme are found in the construction and the enterprise is targeting to speed up the building of 20, 932 houses in order to transfer by the mid of the next budget year.

According Haile, the construction of 1, 292 houses under 40/60 housing project were completed and ready to transfer for beneficiaries through lottery. So far, 20, 932 houses constructing under 40/60 scheme is 64 percent completed, he reiterated.

In addition, about 17,005 houses of that were started at the second phase of the scheme are 34 percent completed, he underscored.

Haile noted that the enterprise evaluates the weak performance of the construction of the houses under 40/60 scheme in connection with problems of structure, input supply and limitations of contractors. Enterprise is also planned to participate local and foreign companies experienced in housing development, he stated.

According to Haile, the price of 40/60 houses expected to be disclosed on the next 6 March, 2017 through integrated press conference of Commercial bank of Ethiopia ,ministry of housing development and Addis Ababa city administration .

40/60 housing scheme aims to make beneficiary of middle income citizens, and about over 155,000 people have continued to save from the total people registered in the 40/60 housing project before three and half year.

Source: Waltainfo

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