Promises Delivered


While the government devised financing for prospective home owners through formulas of 10/90, 20/80, and 40/60, a private real estate introduced its own scheme dubbed 30/30/40. Nonetheless, the offer is limited to employees of Sunshine Construction and Real Estate, which was praised by Mayor Deriba Kuma (right) for honouring its commitment to home owners. In light of public fury directed at real estate firms, such as Access Real Estate,  defaulting on home buyers, Direba complemented Sunshine on Saturday for its hand over of 88 villas and around 400 apartments built on two sites, in the CMC and Bole Beshale areas.

Graced with the presence of the president of the republic, Mulatu Teshome (PhD), middle, it was the second time for Sunshine to deliver homes to buyers.   Years ago, the Company transferred over 308 villas and the same number of apartments in the Gerji and Meri Luki areas to home owners.

Known for its road projects, Sunshine observed its 30th anniversary on June 14, 2014, where its founder, Samuel Tafesse, awarded just less than 30 of its employees with homes – fully and half paid.

For the majority of the awardees, the company gave homes through a financing scheme its founder described as 30/30/40. The awardees pay for 30pc of the building cost, while the company facilitates bank loans for the other 30pc and pays the remaining 40pc.

“It is a scheme that will get broadened to include all our employees through time,” Samuel told homes owners and those gathered to commemorate the anniversary.



SHARE :
               




NEW VIEW ON THE BLOCK...


A new resort on the shores of Lake Langano, 200Km south of Addis Abeba, is scheduled to start service beginning September 2017. Under construction by...

Complete List of Hailemar...


The highly anticipated reform and reshuffle was presented by Hailemariam Desalegn, was endorsed by unanimous vote. The new composition maintains a thi...

Destruction, Looting...


A wave of attacks, at various levels of intensity, kicked off on Monday across many parts of the Oromia Regional State. This came after a large number...


Anbessa Shoes U...


Bamlaku Demissie (left), general manager of Anbessa Shoe S.C., and Courtney Abrams (right), materials management coordinator for Calvin Klein Footwear...

"GOV'T MONOLOGUE TASTELES...


Part of a national discourse, the meeting between the academicians, government and univeristy officials have served as a platform to discuss on curren...

THE COST OF NEW YEAR...


Multiple factors from climate change induced El-Nino drought and La-Nina heavy rains have at different spots affected supply chain – cattle from the...


Complete List o...


Prime Minister Hailemariam Desalegn today formed his new administration after parliament approved his nomination after parliament approved his nominat...

In Picture: The Obama Mom...


Hosting United States President Barack Obama, left, as the first sitting president to visit Ethiopia was a thrilling experience for the administration...

Lentil Farmers in Ethiopi...


This year has not been a positive one for farmers such as Shimeles Tefera, who also owns a shop in the town of Bekea, 40 Km east of Addis Abeba. This...


EDP, 5th Party...


The Ethiopian Democratic Party (EDP) announced that it will not accept the results of the recently held election. This makes it the fifth party to rej...

Vehicle Licence Renewal F...


A new regulation approved by the Council of Ministers will see vehicle licence renewal fees collected across the country starting from the 2015/16 fis...

NEBE Says No Complaints D...


The National Electoral Board of Ethiopia (NEBE) has announced that no opposition political parties have presented complaints to it, even though a numb...


Sheraton Addis...


Jean-Pierre V. Manigoff, the general manager of Sheraton Addis passed away on June 5, 2015. Manigoff had been under a doctor’s care for the last...

BoA Awards Deloitte Consu...


Bank of Abyssinia (BoA) has awarded Deloitte Consultancy a contract for the study and design of its management strategy. Deloitte, selected from fo...

Billions Improperly Accou...


The Federal Main Auditor has found that billions of Birr have been spent inappropriately or have remained uncollected, citing this as a recurring chal...


Merkato’s She...


Fire broke out Friday in Merkato, the biggest open-air market in Africa, in an area commonly referred to as Shera Terra, Addis Ketema district, Wered...

Election Players...


Though the 2015 national election began on a positive note and with optimistic expectations, it has begun to mirror the 2010 elections, which were mar...

Election in Practice...


Ethiopians are casting their votes for a fifth time today. The process, meant to elect members of the federal parliament and regional councils, has se...