About 120,000 condos transferred to beneficiaries, says MoCUD

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Addis Ababa, July 23 (WIC) – The Ministry of Construction and Urban Development (MoCUD) said about 120,000 condominium houses were transferred to beneficiaries during the past eight years.

MoCUD Minister, Mekuria Haile, said the condos transferred to the residents were among the 200,000 houses under construction since 2004 with close to 17 billion birr allocated by the government.

“The condos transferred across the country have played a significant role towards addressing the housing problems in urban areas,” the minister said.

Oromia, Amhara, SNNP, Tigray and Harari states as well as Dire Dawa and Addis Ababa City administrations are the regions where the condos were transferred to dwellers, he said.

Mekuria said 13,314 condos in Oromia, 17,191 condos in Amhara, 7,774 condos in SNNP, 3,968 houses in Tigray and 2,640 houses in Harari stats were transferred to residents in the reported period.

While, residents in Dire Dawa and Addis Ababa City administrations obtained 1,718 and 72,826 condos respectively, the minister pointed out.

According to Mekuria, the construction activities have created 193,241 jobs.

Moreover, preparations have been finalized to begin a new housing development project dubbed 40/60 meant to benefit low income residents in urban areas.

In the 40/60 project, someone is expected to save 40 per cent of the total cost of the house with in five years, while the remaining 60 per cent would be covered by a loan from Commercial Bank of Ethiopia.

He said the construction of 10,000 houses will be commenced in Addis Ababa in this Ethiopian budget year and will be extended to regional states.

He said the construction is expected to create over 138,000 jobs.