Real Estate Developer Avails Villas, Apartments

Feb 13 , 2021


[ssba-buttons]

JH Simex Real Estate, Intercontinental Addis Hotel's sister company, availed 500 villas and apartment units for sale earlier last week. The company, established with an initial investment of more than half a billion Birr in 2008, built the units on 60,000Sqm of land located in the Bole Beshale area on the outskirts of the capital. The residential housing was built at a cost of 1.5 billion Br and includes two-story villas with prices ranging from around 13 million Br to just under 17 million Br. The villas consist of four bedrooms, four bathrooms, a kitchen and dining room areas. The apartment complexes, which vary from two million Birr to five million Birr in unit price, are equipped with elevators, a garden, a gymnasium, communal terraces, and parking and security services. The company offers two payment modalities for interested customers with a one-time payment in cash or a cheque as one option. Alternatively, the company has also arranged bank credit agreements with Dashen and Nib banks for those opting for a long-term payment solution. The latter involves a 20pc down payment with a 20-year time frame to settle the remainder of the loan. J.H. Simex is planning to develop additional projects in Bole and Kazanchis soon, according to its executives.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...