Commentaries | Sep 19,2020
The Addis Abeba city administration will resume its land lease regime, making 100 plots available to the market through the auction process, disclosed the Mayor, Adanech Abiebie. It has been over two years since the city administration discontinued regular land lease auctions, claiming to combat illicit transfers and speculations. The Mayor announced while attending the inauguration of modern apartments built by Al-Sam Properties in Addis Abeba.
Sabir Argaw (right) founded Al-Sam Plc 30 years ago, minting its name in Ethiopia's market, and importing popular brands such as Sinerline exercise books, BIC pens, Colgate, Sharp, and B-29 soaps.
The Mayor told property developers in the city to take a cue from Al-Sam in completing projects on time and avoid hoarding land. She put a commencement stone on Saturday for Al-Sam's third project on a plot near Mexico Square, to build a 30-storey apartment. Al-Sam Properties invested 1.8 billion Br, building a 20-storey apartment on Ras Mekonen Avenue in Lideta neighbourhood, comprising 365 flats. The apartment has four wings, laying on a 3,572sqm plot.
A second upscale apartment was inaugurated on Marshal Tito Road in the Cazanchis area (behind Radisson Blu Hotel) by Sacur Real Estate, a sister company of Al-Sam Properties. It has two towers erected on a 1,419sqm plot, comprising 111 flats and three deluxe penthouses. The project took an investment of 800 million Br; the finance for both apartments was obtained from Awash and Dashen banks.
PUBLISHED ON
Nov 05,2022 [ VOL
23 , NO
1175]
Commentaries | Sep 19,2020
Radar | Aug 10,2019
Radar | Sep 10,2022
Radar | Dec 19,2021
Fortune News | Jan 19,2019
My Opinion | Nov 18,2023
Fortune News | Jan 29,2022
Radar | Jun 12,2023
Agenda | Nov 09,2019
Fortune News | Jul 02,2022
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 28 , 2024 . By TIZITA SHEWAFERAW
Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
Sep 13 , 2025
At its launch in Nairobi two years ago, the Africa Climate Summit was billed as the f...
Sep 6 , 2025
The dawn of a new year is more than a simple turning of the calendar. It is a moment...
Aug 30 , 2025
For Germans, Otto von Bismarck is first remembered as the architect of a unified nati...
Aug 23 , 2025
Banks have a new obsession. After decades chasing deposits and, more recently, digita...
Loading your updates...