Radar | Dec 02,2023
May 23 , 2024
A plot of land received a 350,000 Br for a square metre during a lease auction held yesterday for plots surrounding the recently demolished Piassa neighborhood. Awash Bank emerged highest bidder, eyeing a 977Sqm plot in the Arada District for 311,000 Br, committing to full upfront payment.
However, the offer halves the previous record of 695,000 Br set last year in the Sarbet area.
This year's auction leveraged technology, with bid documents available online and Tele Birr, a mobile payment platform, used to avoid large crowds at the Addis Abeba Land Development & Administration Bureau. Out of the 4,200 bid documents sold, 295 for Piassa area plots sold out on the third day. The remaining plots in different areas are up for grabs in the ongoing auction, which will end tomorrow.
The Bole District Bureau halls attracted a diverse range of bidders, primarily companies from the banking, insurance, and real estate sectors. Ethio Re Insurance offered upfront payment for a 1,585Sqm plot, while Varnero Construction Plc emerged as the highest bidder for a different plot at 119,000 Br with a 40pc downpayment. Quarit Agro-industry secured a plot for headquarters construction with a bid of 298,511 Br and a 50pc downpayment.
Radar | Dec 02,2023
My Opinion | Jul 30,2022
Fortune News | Oct 15,2022
Verbatim | Dec 11,2020
Fortune News | Jul 18,2020
My Opinion | 125509 Views | Aug 14,2021
My Opinion | 121636 Views | Aug 21,2021
My Opinion | 119826 Views | Sep 10,2021
My Opinion | 117734 Views | Aug 07,2021
Mar 9 , 2025
Five years ago, 11 non-governmental organisations (NGOs), together with 40 allies acr...
Mar 2 , 2025
The domestic economy has endured a punishing half-decade. A global pandemic throttled...
Feb 23 , 2025
Africa is a place where the frustrations of its elites run high due to what they feel...
Feb 16 , 2025
Madame Kristalina Georgieva, managing director of the International Monetary Fund (IM...
Loading your updates...