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Plot in Kolfe fetches 40.4m for 367sqm

The Addis Ababa Land Management Bureau which had not floated a land lease tender for almost nine months carried out a tender with its new computer system. It received a 110,000 birr per square meter bid in Kolfe Keranyo Sub City for 367 square meters from Hamzia Muzae. Sheffa Kider offered the second highest price, 24,888 birr, for that property.
In total Hamzia will pay 40.4 million birr in addition to the interest rate which will be calculated every year. She first must settle 20 percent of the total offer.
A property in Bole received the highest offer, from Alemayehu Dejen who offered 68,119 birr to buy 226 square meters of land.
Land in Nifas Silke Lafto received the third highest price, from Seid Ommer who offered 58, 830 birr for 349 square meters with a down payment of 30 percent.
The fourth highest price was offered in Arada Sub City by Shekur Abubeker who tagged 56,767 birr for one square meter for 788 square meters.
The lowest price for this land auction came from Yohannaes Bifa in Akaki Sub City who won 509 square meters of land by offering 10,101 birr per square meter.
From the six sub cities who floated land for bids; Bole had 36 plots while Nifas Silke and Kolfe had  9 and 11 plots for bid respectively.
Arda and Akaki floated six plots each while Yeka brought 27 plots. Many of the bidders offered from 18,000 up to 35,000 birr for one square meter.
If the winners do not pay their down payment in the next two weeks the bureau will give them a chance for the second price offer but the price of the land will be equal with the first winner’s price.
There have been complaints about the tender which was opened a month ago due to new software in which bidders fill in a form on a computer.  Previously bidders used paper and put the form in a secret box.
The new software which is developed by the Addis Ababa Integrated Land Information Center (AAILIC) will be expected to carry out tenders more transparently.
The AAILIC said the system is simple because a bidder comes to the central station and fills in only the CPO amount and the amount of money they are bidding. If they cannot type on the computer, they can come with someone or an employee of the bureau can help them.
But some Land Management staff said the new system would actually take more time.


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