Addis Ababa City Reclaims 4 Million Sqm of Undeveloped LandSeptember 23, 2018 - The Addis Ababa city administration cabinet has decided to revoke lease agreements of 154 sites, totaling 4,126,423 square meters of land. The land in question have been fenced off and left unused for the past 14 years, according to FBCreport. Engineer Takele Uma, Deputy Mayor of Addis Ababa city, said the administration transferred the plots of land to developers at various times in the past. Investors and developers normally lease land from the government based on lease terms for up to 99 years. However, enforcement of the agreement is usually weak and it is common to see investors holding raw land for many years.

Source: Ethiopian News September 23, 2018 05:37 UTC