Corporation Alters Commercial Units’ Rental Fee

Nov 21 , 2018


[ssba-buttons]

The Federal Housing Corporation announced it will soon make the first-ever rental fee revision on 6,635 commercial units. The alteration will be made for the first time since its establishment 43 years ago. The new revised rental fee will be announced in January 2019, after finalising the ongoing market assessment to set the new rates, according to Reshad Kemal, CEO of the Corporation. To amend the rental fee, the Corporation conducted surveys and studies across the districts in the city. The survey demonstrates that 65pc of the tenants have been paying the minimum fee of 65 Br per square meter for the commercial units and 95 Br per square meter for business units at a prime location, respectively. A rental fee for a square meter of privately-owned space around Global Hotel and Gotera Hotel stands 660pc higher than the same-sized plot owned by the Corporation. The Corporation administers a total of 18,153 units in Addis Abeba and Dire Dawa, out of which 37pc are rented for business firms.    


Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...