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Registration for Corporate House starts July 22

The Ethiopian government shall need 67 billion birr for the construction of the new condominium housing construction project, whose registration has been completed today. More than 858,000 people have opened saving accounts with the Commercial Bank of Ethiopia (CBE), the partner bank to the Government Housing Agency for the housing project. 
After eight years of the introduction of condominium houses, the government is stepping up for the second round registration program.
Registration for the condominium houses in the 10/90 and 20/80 schemes begun on June 10 and went on until Friday July 5, where the registration was initially scheduled to wind down. However, people who set up a deposit account until Friday have got the privilege to register for the housing plan for two additional days, meaning till Sunday.
During the18-days registration, there were about 858,000 people who got their deposit bank book at the CBE for both schemes. Most of the registrants however fall in the 20/80 scheme. CBE on its part guaranteed a loan for the construction of the condominium houses for a maximum of 20 years pay-back period.
Meanwhile, many people who registered but couldn’t find their names in the data server have been complaining to the government. Accordingly, Getachew H/Mariam, Head of Government Housing Agency, at a press conference held on June 28 told journalist that they have ample time to report their complaints, until Sunday. The government will try to find solutions in five days, and then change their registration from the new to the old 20/80 housing registration if the fact checks out. However, these people need to register as new registrants until Sunday, according to Getachew.
The head further stated that the agency has discovered 90 people trying to register unlawfully and that they would be taken to the court. 
Meanwhile, Teklewold Atnafu, Governor of the National Bank of Ethiopia (NBE) stated that the government needs 67 billion birr to construct the condominium houses for all registrants. This makes the current condominium construction one of the biggest projects that the country is undertaking [in terms of the amount of money]. The condominium construction will be second only to the Great Renaissance Dam (GRD) which consumes USD 4.2 billion, roughly 80 billion birr.
Moreover, the Addis Ababa Trade and Industry Development office declared it has completed all the necessary preparations for the coming new registration program to be held on July 22, which shall stay for an indefinite period of time.
According to the office, a group of 24 people can form an association and register in their respective Sub-cities as per their interest. On this program, the existing housing associations and Ethiopians living abroad will also be considered as the beneficiaries. On this program, one bedroom apartment shall cost 210,000 birr, while a two and three bedrooms housing cost a total amount of 280,000 and 385,000 birr respectively.
Interested associations are expected to pay 50 percent of the total amount during the registration period, while the remaining 50 percent will be paid when they obtain the land and its building license. The construction of the house can be undertaken by contractors of their choice, or by enterprises that are set up for housing projects.
As reported by Mayor Kuma Demeksa, on its last council meeting, the City Administration has built and provided 100,559 condominium houses, where 502,795 citizens benefited. Currently, 78,000 houses are under construction under the same housing project.  In 10/90 housing project, 24,588 houses are under construction, while the 40/60 project is underway at G+12, G+9, 19 blocks in total, Kuma concluded.