Real Estate Developer Avails Villas, Apartments

February 13 , 2021


Real Estate Developer Avails Villas, Apartments

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.


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