Finishing work for 40/60 condos to fall on beneficiaries

The Addis Ababa Saving Houses Development Enterprise (AASHDE) says that because many owners have recently demolished doors, windows, ceramic floors, kitchens and toilets of recently transferred condos that finishing works should be the responsibility of the beneficiaries.
Sources close to AASHDE told Capital that a new study will be presented to the city council and stakeholders including, the Commercial Bank of Ethiopia, construction companies and urban ministers.
Condo owners are demolishing the finishing work so we want to know the exact number and then convince the stakeholders to leave the finishing work to the beneficiaries, a source from AASHDE said.
The source added that the Agency can transfer 10,000 houses a year if they don’t have to concern themselves with the finishing work.
“We are wasting so much time with finishing works, because to fix ceramic, electricity and water pipe installation takes time so it’s better to just deduct this from the price and let the new owners do it,” the source said.
The agency is spending over 150,000 birr per house to install finishing materials and so far 90 percent owners of the 972 houses recently transferred have replaced the finishing materials.
AASHDE engineers said that over 130 million birr in ceramic and other materials have been demolished at Crown and Senga Tera sites recently.
Beneficiaries often say that the finishing materials are low quality.
In related news 40/60 condos shops tenders have not gotten as many bidders as expected. Initially the Agency planned on attracting 20,000 bidders but only 4,000 people have bought the document for the tender even though the closing time has been extended twice.
So far banks and insurance companies have purchased the document to open branches at the sites. The winners of the tender will be announced on March 27.
This first tender aims to sell 372 condo shops built under the 40/60 scheme. They plan to sell them at a floor price of 19,634 birr per square meter.
The shops are located in Senga Terra and Crown sites on the ground, first and second floors. They are from 62 to 120 square meters and have communal toilets, marble stairs and emergency exit doors.
A water tanker which can hold 300 liters, a common satellite antenna, an electric and telecommunication line are also being installed in the shops.