Property owners in Yeka subcity located along the Corridor Development path, are accusing the government of not respecting their property rights. A resident and owner of a plot of land near Minarol Building in the Megenagna area has disclosed to Ethio Real Estate News that the Woreda officials had met with angry owners recently to explain the conditions under which they can develop their own properties. The officials told the only way they can develop their own plot is if the government doesn’t want it, and if they have 500 Million Birr in their bank account.
Owners expressed dismay of the “unreasonable” amount demanded to develop their own property. “In normal times, people can start construction of their building with whatever they have, and then get bank loans or other types of investments to finish their building,” says one owner who wants to remain anonymous. “My plot is worth at least 120 Million Birr. They offered me another plot far away from my current one, which is only worth 30 Million. This is really unfair, especially because I have the ability to develop it; I just don’t have 500 Million”.
Addis Ababa’s Corridor Development plan has been in full swing over the past 2 weeks, with demolitions and evictions seen all over the city, including Piazza, Megenagna, Bole and Ayat. Ethio Real Estate News spoke with Biruk Lemesa who is a developer planning to participate in the upcoming auction of plots by the city. Although he is excited by the prospect of getting some cheap plots of land in premium locations, he has some reservations that these plots have been taken away from owners who might have the ability to develop them. “It gives the impression that the motivation behind the demolitions and evictions is to take from some and give to others.”. “Some even went as far as to compare it to the Derg regime’s nationalization of all lands from private holders in 1975.”
Ethio Real Estate News attempt to reach Wereda officials went unanswered, but an anonymous source disclosed that the plan to demolish and auction properties on the Corridor path will continue, including in the Ayat area, where the homes are relatively new and developed by a real estate developer according to the city’s master plan of the time.
Editor