Addis gets 2.5 bln birr from latest round of land lease auction


The 11th round lease land auction sold 8.6 hectares brining in 2.5 billion birr. The City Land Management Bureau will soon obtain around 524.8 million birr as a down payment and the rest be paid within the next 30 years.
Akaki Sub-City ranked first by selling 4.3 hectares plot worth a total of 2.1 billion birr whereas Bole sub city sold 2.8 hectares of plot worth one billion birr.
Addis Ketema and Nifas Silk sold 0.449 and 1.1 hectares of land respectively with an aggregate income of 400 million birr.
A plot of land in  Addis Ketemma Sub-City, commonly known as Berbere Terra, fetched an astounding  price from Zeway International Trading to buy 449 square meters of land and won the auction by putting up around 305,000 birr per square meter.
A individual named Tesfaye Semachew won a 635 meter square plot of land in Akaki Sub-City by offering 1,027 birr per square meter which was the lowest price of the 11th round  auction.