Real Estate Developer Avails Villas, Apartments

Feb 13 , 2021


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

HEFTY GREEN

Street vendors around the Shola area take a rest in the shades of the capital's newly planted trees. Upon reporting on its 10-month performance before Parliament, the Agriculture Minister, Girma Amentie indicated that up to 43pc of the arable land in the country has been rendered acidic. This requires large amounts of limestone to be imported from abroad; the tight forex crunch has not allowed the Ministry of Finance to fund the endeavour easily. Following the rallying call of the Prime Minister...


Radar

DAMP DENIMS

Residents of communal houses around the Weji area hang their clothes on the fences outside. Textile manufacturing accounts for 87pc of Ethiopia's products from industrial parks. Expulsion from the African Growth & Opportunity Act (AGOA) due to the war in the North resulted in Ethiopia being expelled from the preferential trade act. Most companies choosing to rent sheds within the industrial parks do so out of a desire to access the duty-free privileges provided for African countries. Ethiopi...


Radar

PRICY PLEASURES

Vendors put traditional beauty products from the Somali Regional State for sale around Mexico area. In November of last year, the Ministry of Finance banned imported goods under 38 categories, including cosmetics, packed foods, and furniture, from accessing letters of credit. The move resulted in the tripling of costs for cosmetic items like lipstick and nail polish. As Ethiopia ran a 14 billion dollar merchandise trade deficit last year due to import bills hiking by 26pc , a tight clampdown on...