The Commercial Bank of Ethiopia (CBE) will hold a lottery draw for 876 middle-class public houses on July 8, 2017.
The lottery draw, the first of its kind, will be held at the premises of Addis Ababa City Administration. These middle-income public houses are located at Senga Tera and Crown sites.
The Addis Ababa Savings & Houses Development Enterprise (AASHDE) handed over the houses to the CBE last week. The 876 houses are found in 17 buildings. From the total number of houses, 320 of them will be used for commercial purposes.
Although Diriba Kuma, mayor of the city, inaugurated these houses nearly four months ago, they were not handed over to the CBE as most of the infrastructural facilities of these houses were not fulfilled.
These houses reside in 12 and nine-storey buildings with full infrastructural facilities. The city administration has already revised the price of this scheme and is expected to announce the new cost soon through the CBE.