17th round auction of 20/80 condominium shops put to a halt

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Addis Ababa Housing Development Corporation cancels the 17th round auction of 20/80 condominium shops.
The auction was made for 2573 available shops for interested buyers in various locations across the city under 20/80 low cost condominium schemes. The shops were located in a low-cost condominium housing schemes across five sub cities namely; Bole, Akaki Kality, Arada, Lemikura and Nifas Silk Lafto.
The bid which was opened starting from November 26, 2021 to December 8 announced the cancellation on Friday January 21, 2022. The corporation did not provide full details with regards to the said termination and Capital’s effort to get officials from the corporation to get information on the issue was unsuccessful.
“Based on the bid document article 2, sub article 40 the corporation has fully canceled the bid,” reads the notice later.
From the total 2573 condo shops, 86 of them are located in two sites of Bole sub city; Bole Bulbula 1 and 2, whereas Lemikura has 321 shops located in four sites whilst Arada has 8. Akaki Kality shares the largest number with 2155 shops for the auction in nine sites and Nifas Silk has the remaining 3 condo shops for sell.
For this round of bid, the Agency set the floor price of all the shops at 15,068 birr per square meter which is equivalent to the total cost spent while building the shop. In previous bids the price was 10,000 birr for the 16th round and 9,170 birr for the 15th round. At the time, banking and micro-finance institutions were the ones that gave the highest offers.
According to the document, the total width of the condo shops range between 235.50 square meters and minimum 21.15 square meters.
The shops were part of houses located in the aforementioned sites. It is to be recalled that these houses were completed and inaugurated last year after a public outcry over the delay on the completion of the houses.