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The 26th land lease auction managed to sell 159 plots of land in Yeka, Bole, Kirkos, Kolfe, Nifas Selke Lafto, Addis Ketema and Akaki areas. The prices at this auction were lower compared to previous ones.
Two pieces of land were sold in Kirkos. These pieces recorded the highest bids of the auction. The most expensive bid was from Nasir Jemal who offered 61,115 birr per square meter. He purchased 1,028 square meters which is 62.8 million birr in total . Dunab Real Estate offered 59,000 birr for one square meter for the purchase of 1,354 square meters.
Addis Ketemma, which was the area that previously had the highest bid, received an offer of 13,250 birr per square meter from Nuredin Jemal who bought 1,028 square meters of land. Six plots were up for sale in this sub-city.
Atakilti Kebede offered 19,927 birr per square meter for 1,319 square meters of land. It was the highest offer in Bole Sub City. In that area 191 pieces of land were floated.
A total of 25 places were up for auction in Kolfe Keranio Sub City. In this area the highest bid was 28,500 birr per square meter of land and in that offer 201 square meters of land were purchased. In Nifas Selke Lafto 18 pieces of land were up for auction. Yared Twelday was the highest bidder, paying 25,000 birr per square meter and buying 175 square meters of land. Ledeta, which is an area seeing an increase in development had a 1,095 square meter plot of land up for auction. A company called Amdehune General Trading paid 57,255 birr per square meter for that plot.
Yeka and Akaki Sub Cites had 15 pieces of land. The highest offers there were 43,150 and 15,420 birr per square meter.
The lowest bid in this round of auction was from Fozia Seid who offered 4,700 birr in Nifas Selke Lafto for 423 square meters.
The winners of the lease auction will be expected to pay 20 percent of the total price in the next ten days or the second highest bidder will have the opportunity to purchase the land. In the previous two auctions bogus bidding became a problem when from people offered a lot of money for land but failed to show up when it came time to pay. According to the Addis Ababa Land Management Bureau four participants in the 26th auction brought a null document and were charged with illegal bidding when they allegedly submitted a blank document during a bid in order for the paper to be later be filled out by people on the inside.
Now fake bidders are banned from participating in any type of auction for one year.