Over, 750,000 condos to be built in GTP-II

condos

Addis Ababa: November 28, 2015 – More than 750,000 condominium houses will be built in the second Growth and Transformation Plan (GTP-II) period.

Addis Ababa alone gets 335,000 of the total houses, Mekuria Haile, Minister of Urban Development and Housing said.

During the plan period, the government will build 430,000 houses, while more than 243, 000 residential units will be constructed by cooperatives and real estate developers, according to Mekuria.

The construction works will create jobs for more than 5.6 million unemployed compatriots, he noted.

He said condominium houses at regional states will be launched taking into consideration cities designated priority areas for industrial parks

Mekelle, Dessie, Kombolcha, Bahir Dar, Adama, Hawassa, Dire Dawa and Jimma are among the cities where the construction of the houses will begin, he stated.

Some 40,000 condominium houses will be transferred to beneficiaries in Addis Ababa this Ethiopian fiscal year.

In a related development, only half of the total 900,000 people, who were registered to own condominium houses, are currently saving money in their special account.

FBC

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