CBE to hold lot draw for 40/60 houses Saturday

Addis Ababa, July 3, 2017 (FBC) – The Commercial Bank of Ethiopia (CBE) said it will hold a lottery draw on July 8, 2017 for the houses which it received from the Addis Ababa Saving Houses Development Enterprise.

According to a press release the bank sent to FBC today, the lottery draw ceremony will take place at the Addis Ababa city administration hall in the coming Saturday.

The houses were built under the 40/60 housing program at Sengatera and Crown sites.

The Addis Ababa Saving Houses Development Enterprise has been constructing 39, 229 houses at 13 sites, out of which 1,292 were completed at Sengatera and Crown sites and inaugurated last March by Prime Minister Hailemariam Desalegn.

Of the inaugurated houses, 972 are residents units and the remaining are houses that will be used for commercial purposes.

The enterprise recently handed over to CBE 876 houses fitted with the necessary infrastructures such as water, electricity, road and other related facilities.

Efforts are also underway to finalize the construction of the remaining houses, according to the enterprise.

Despite a plan to transfer 18, 496 houses of 40/60 scheme this Ethiopian fiscal year (2016/17), the Ministry of Urban Development and Housing hasn’t transferred so far any house built under this program.