![](https://addisfortune.news/wp-content/uploads/2023/07/Hijra-bank.jpg)
News Analysis | Jul 01,2023
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.
News Analysis | Jul 01,2023
Radar | Jun 11,2022
Radar | Mar 19,2022
Radar | Aug 22,2020
Fortune News | May 09,2020
News Analysis | Oct 30,2021
Radar | May 18,2024
Radar | Sep 27,2020
Radar | Apr 03,2021
Radar | Nov 23,2019
My Opinion | 103191 Views | Aug 14,2021
Photo Gallery | 101162 Views | May 06,2019
My Opinion | 99514 Views | Aug 21,2021
My Opinion | 98650 Views | Aug 07,2021
Jun 15 , 2024
The Central Bank has tabled a draft banking proclamation to commercial bank executive...
Jun 8 , 2024
Ethiopia's businesses face an increasingly arduous task in securing loans, as capital...
Jun 1 , 2024
Ethiopia appears to be mired in a vicious economic cycle - rather a negative dynamic...
May 25 , 2024
For a long time, the debate among Ethiopia's policymakers and those in the academia c...