The government of Ethiopia plans to construct more than 750,000 condos over the coming five years which is referred to as the second Growth and Transformation Plan (GTP-II) period.Addis Ababa alone will get 335,000 of the total houses, Mekuria Haile, Minister of Urban Development and Housing said.
According to the minister, the government will build 430,000 houses, while more than 243, 000 residential units will be constructed by cooperatives and real estate developers.
The construction works is expected to create jobs for more than 5.6 million unemployed compatriots.
The minister said some 40,000 residential units will be transferred to beneficiaries in Addis Ababa this Ethiopian fiscal year.
In a related development, only half of the total 900,000 people, who were registered to own condominium houses, are currently saving money in their special account.
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