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Jan 23 , 2019
Tenants of the Federal Housing Corporation called for the injunction of the new rental fee amendment its executives made a couple of weeks ago.
They have also declared that they will be paying 71.50 Br a square meter rejecting the new rental fee of the Corporation - 509 Br a square meter - until the issue is resolved.
Over 3,000 tenants met today at the Global Hotel and agreed on five points, including paying the rental fees with the proposed value, a fee the Corporation uses as a floor price during bids.
They also called for the extension of the deadline they were given to renew rental agreements, call the Corporation to stop claiming tenants are paying a very low fee. They have also called for the draft of a new directive that will govern the tenants and the Corporation and the suspension of the new rental fee amendment until another assessment was made to set a new fee.
"If our concerns aren't addressed, we will shut our shops and go for a demonstration to the Office of the Prime Minister," said Tilahun Altaye, member of the tenants' committee.
Two months ago the Corporation announced an average rental fee spike of 2,090pc, the first in the Corporation's 43 years. The fee amendment was made on 6,128 commercial units.
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