The Addis Ababa Caretakers Administration announced the first auction round for bidders interested in leasing land for residence, business, industry and mixed-use purposes.
 

The announcement advised that winning bidders would have to submit a 20pc advance payment by cash payment order.
 

Before bidding, bidders would also have to show a guaranteed bank account, to be placed in aescrow, to prove a willing capacity to work on the plot according to its zoning.
 

The period specified to collect tender documents is from October 11, 2006 to November 9, 2006. The tender will be opened on the last date and bidders are able to assess the plots both on site and on paper plan.
 

With this issuance of the Addis Abeba City Development Administration Authority’s first land lease tender, districts have already started to accept applications for development.

There will be 167 plots of land distributed in the different districts of the city ranging in size from 150sqm to 3,000sqm. All of these, except one in the Gulele district, are being assigned to be leased for the first time.

The Nefas Silk Lafto district has 51 plots being offered, the highest number. Addis Ketema will have only two plots to offer.

The Lease Board has projected to collect around 800 million Br in the current fiscal year from land lease revenue.