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City regains illegally occupied land, new lease price
The Addis Ababa City Administration (AACA) regained 69.15 hectares of land occupied illegally and transferred it to the city land bank in the first five months of the last Ethiopian budget year. It also claimed that it managed to protect 225 hectares of land from illegal land grabbing. The city administration arranged more than 660 hectares of land for different development purposes under its land bank system. It has demolished more than 4,867 houses in the city in its bid to redevelop in a manner suited to the current development needs of the city while more than 4,817 are in the pipeline for clearing. The Mekelle city Administration has also taken back about 400 plots of land and placed it into the city’s land bank over the last two years. The plot was taken back from investors who didn’t start their activities at the stipulated time. Meanwhile, the Addis Ababa City Administration has released a new floor price for plots in the city late last budget year after revising the existing lease rate according to the market price. The new prices range from 1,686 birr per square meter designated as central market places to 191 birr for areas that are grouped as expansion places in the city.
Samsung installs new traffic light system
Samsung, a major producer of traffic lights, brought a new traffic management centre (TMC) to Addis Ababa to provide a centrally controlled traffic system.
Bole Road construction begins
The construction of the 4Km Bole Airport to Meskel Square road, Africa Avenue (Bole Road), officially started on January 6, 2012. The 60 million dollar project is being constructed by CRBC Addis. According to the plan the road is scheduled to be completed in 2013 before the celebration of the 50th anniversary of the establishment of African Union (AU).
The Ethiopian Water Works Construction Enterprise (EWWCE) was handed over 254 million birr for the first phase expansion project of Mojo dry port.
MoD construction Begins
The Defense Construction Enterprise (DFC) under the Ministry of Defence (MoD) has commenced the construction of the ministry’s new headquarters at a cost of 1.3 billion birr.
The Ethiopian Railway Corporation (ERC) signed a USD 1.7 billion contract agreement with Turkish company Yapi Merkezi Construction Industry Inc. to construct 389Km of the Awash-Woldia/Hara Gebeya Railway Project. It is expected to complete the project in its entirety; engineering, procurement and construction (EPC) within 42 months.
A new housing program for citizens with middle incomes has begun. It targets those who can make a down payment of 40pct of the home price before acquiring their house and the remaining 60pct within 17 years. This affordable housing scheme was brought forward two years ago when the government announced its five year GTP program.
Kenya-Ethiopia regional highway begins
Ethiopia and Kenya have signed a memorandum of understanding to form the Ethio-Kenya Corridor Development Commission that will follow the road development between the two countries.
AfDB approved the loan that amounts to USD 442 million for Kenya and USD 301 million for Ethiopia, for a total of USD 743 million for a high use asphalt road project of 880Km. The road will stretch from Addis-Moyale-Nairobi-Mombasa by 2016, based on the plan.
The project is part of the trans-Africa highway, to promote trade and regional integration through highway infrastructure development and the management of a road-based trade corridor.