Property 2000 South Africa to Build 500,000 Houses in Addis Ababa
ENA reported that the Addis Ababa City Administration has signed an agreement with a South African housing company Property 2000 South Africa
ENA reported that the Addis Ababa City Administration has signed an agreement with a South African housing company Property 2000 South Africa to build 500,000 houses in the city with a cost of USD 4.2 billion. The agreement will enable Property 2000 South Africa housing company to construct 500,000 houses that will be handed over to low and middle income residents of the city with very low interest loan to be paid in 30 years. The full cost of the construction of the houses will be covered by the Company and the city administration will provide the construction sites with the necessary infrastructures and import duty-free inputs.
Property 2000 South Africa Chairperson Mr Napo Eddie Modise said that “The company decided to engage in housing development to be part of government’s effort to address the urgent needs of housing in Addis Ababa. It plans to hand over 100,000 houses with in a year adding that company has generally planned to build 500,000 houses in the city over the coming five years.”