The Addis Abeba Land Development & Urban Renewal Agency transferred 453ha of land for micro and small enterprises, condominium construction and the 40/60 housing scheme within the last six months of the current fiscal year.

The City also renewed 212ha of land around Basha Wolde Chilot, Sheraton Hotel, Wello Sefer and the headquarters of the United Nations Economic Commission of Africa(UNECA) located on Tito Street, according to the press release sent from the Agency.

While performing its duty the Agency paid compensation to residents who were relocated from their settlements for redevelopment purposes, according to the press release.

The Agency, which was established in 2009, is responsible for making the capital city attractive for investors by renewing the old parts of the city based on the participation of the society and preparing land for redevelopment.