Housing Development Corporation announces termination of contracts for unoccupied condominium units
Addis Abeba – The Addis Abeba Housing Development Corporation has issued a stern warning to individuals who have purchased condominium units through lottery or auction but have yet to occupy them.
According to the corporation, if these owners fail to move into their units by 09 November, 2024, their contracts will be terminated, and the units will be reallocated.
The corporation cited concerns about “illegal activities and security threats” that have arisen in vacant condominium houses.
The corporation emphasized that many of these condominiums, despite being sold and contracted, “have become hotspots for illegal activities and security threats” due to prolonged vacancies.
As a result, a final warning has been issued to the owners of these unoccupied units, urging them to take residence by the specified deadline.
Failure to comply by 09 November will result in the termination of their sales contracts, with the corporation reallocating the units to others through a lottery or sale process.
This move follows the Addis Abeba City Administration’s revelation three years ago that 21,695 condominium units were found to be occupied illegally.
Among these, 16,315 units were illegally occupied; 4,530 were vacant (yet to be transferred to their rightful owners); 850 were once occupied but now stand idle; 424 were unlawfully inhabited by unauthorized individuals; and 51,064 units were transferred under unclear circumstances. AS
