25,491 Condo Houses Transferred to Addis Residents in Lottery Draw

ADDIS ABABA – The City administration of Addis Ababa on Friday transferred 25,491 condominium houses built under the 20/80 and 40/60 housing schemes via a lottery draw.

A combined total of 79,794 residents registered in the two schemes participated in the draw that took place at the Addis Ababa municipality hall. Top officials of the city administration attended the drawing event.

About 27,195 people registered in 2005 and saved up the 20% down payment until February 28, 2022, have also been involved in the In 14th round lottery drawing for the “20/80” scheme

The city administration said at least 52,599 registered residents who saved up at least 40% payment until February 28, 2022, were also included in the draw for the 40/60 house units.

The draw also gave a 5% more chances to people with disabilities, a 20% for public servants, and a 30% for women as per the 3/2011 directive of the administration.

Mayor of Addis Ababa Adanech Abiebie has congratulated the beneficiaries that had to wait for so long to get a house while saving money.

The administration employed a new system to carry out the lottery draw without any discrimination. A neutral body can audit the process if there is a complaint after the end of the draw, the mayor said,

Overall, the condo units transferred are 97 percent finished, officials of the city said adding their construction and various infrastructures built at the sites cost more than 21.5 billion birr.

The price of the condos built under the 20/80 housing scheme is set at 7,997.17 birr per square meter while the condo units under the 40/60 plan are 11,162.97 per square meter.

These rates are much lower than the prices to acquire similar units built by private developers in the city, the mayor said.

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