Addis Ababa city decides to cancel lease agreements of over 4mln sqm of land
Addis Ababa, September 22, 2018 (FBC) –The Addis Ababa city administration cabinet has decided to revoke lease agreements of 154 sites, totaling 4, 126, 423 square meters of land, that have been fenced off and left unused for the past 14 years.
The administration decided to repossess the sites from investors (456,428sqm), government offices (127,140.93sqm), MIDROC Ethiopia (549,241sqm), embassies and agencies (250,413.89 sqm), and from federal institutions, including Defense Force and Ethio-telecom (2.7mln sqm.)
Engineer Takele Uma, Deputy Mayor of Addis Ababa city, said the administration transferred the plots of land to developers at various time in the past.
However, the failed to develop the sites and left them idle for the past years, he added.