City administration set to take measures against developers who failed to commence construction
Addis Ababa, February 13, 2019 (FBC) – The Addis Ababa city administration said it is ready to take measures against real-estate developers who failed to commence construction after receiving land.
This has been announced today at a discussion held on the findings of the study conducted to identify performance of the developers.
Based on results of the study, decisions have been made to use the plots of land left idle by developers for the construction of houses by the city administration.
There are close to 139 real-estate developers in Addis Ababa.
Tesfaye Tilahun, Addis Ababa land bank and transfer office manager said the land will be repossessed and kept into the land bank so that the administration will use it for the implementation of the housing development project.