City places land from Access Real Estate into land bank

The Vice Mayor of Addis Ababa,  Abate Sitotaw ordered the Land Management and Development  Bureau  to repossess all land held  by  Access Real Estate (ARE) throughout the city  and place it in a land bank for special protection.

According to information that Capital  obtained from the administration a total of 76,684 squares meters plots which were held  by ARE in Bole, Yeka, Kirkos and Ledeta Sub Cities for the last eight years were placed in the land bank.

The biggest plots of land are in Bole sub city. Because they did not deliver any houses, Access has had conflict with home buyers for the past eight years.

The Land Bank’s decision came after home buyers asked  the Addis Ababa City Administration to include plots owned by ARE under the city land bank. A main committee which was formed by the Prime Minister a year ago decided that land owned by ARE should be returned to the land bank.

The Vice Mayor’s order which respects the interests of the Prime Minster and home buyer did not say if the plots of land will be given to the ARE home  buyers to manage the construction of the houses by themselves or another party.

“We are ordered by our bosses to register the lands by giving their own code and we passed these assignment to the respective Sub Cities’ bureaus. Any construction or development on this fenced land is prohibited until a new order comes from the mayor. The land is now under the protection of the city land bank”, a source in the administration told Capital.

Recently, home buyers, in an attempt to have the construction completed though other means, asked the Addis Ababa Trade Bureau to form an association, the department that is responsible for forming an association, however the Bureau stated that it needs further classification from the mayor’s office to form this type of organization.

As Capital previously reported, the final audit of ARE has not yet been revealed by the Audit Corporation which may slow down a decision about the land plots.

A total of 2,703 home buyers, including 81 Diaspora, paid 1.4 billion Br to get homes from ARE.

ARE was originally formed by five shareholders, with 50,000 birr in registered capital. Ermias Amelga is its CEO and board chairman.

In related news a new committee was recently established in the land management bureau and chaired by the vice mayor of the city, announced that it will retake fenced lands in Addis Ababa.

The committee reveled that there are more than 100 places across the city that have been fenced for over 14 years and nothing is built on it. Though the administration has not  stated the name of  companies who fenced the places and did nothing for years, it said it will  retake the lands from the companies who do nothing without  sound reason.