Ethiopia has transferred more than 35, 000 condos in Raffle to its capital’s residents, APA can report Sunday. Built at a cost of over $450 million, the condos were transferred to winners who have been making savings in closed accounts for 16 consecutive months.
The winners make up less than four percent of the over registered 900 thousand residential houses’ seekers who are living either in rented houses or with their families.
“Apart from today’s winners, additional 40 thousand condos will be transferred until June this year out of 136 thousand condos being built across the city,â€� said Mayor of the city Driba Kuma, at the drawing ceremony.
The Addis Ababa City government has so far transferred 141, 000 condos to the city’ residents since the condos housing scheme was launched in 2004.
The housing scheme is part of the country’s reconstruction effort to address critical housing shortage and replace the 60 percent slums particularly in the capital Addis Ababa.
“The housing scheme is generating more than 60, 000 job opportunities every year and creating over four billion birr market linkage among small scale enterprises and big industries� the mayor has noted.
Reports from the city government have revealed that more than 75 percent of the capital’s residents do not own houses.
As an incentive, women and government employees were given up to 50 percent privilege and included in the 10th round and biggest drawing .
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