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.
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