Tsehay Real-estate Starts Construction on Second Phase, Hands Out Title Deeds
Tsehay Real-estate has finally received all title deeds and holding rights for its residents. This comes as the towering apartment compound of more than 600 residents in the CMC area, starts the second phase of its planned construction sites of hundreds of apartments and a shopping center.
There has been a delay of the transfer of the title deeds, held by authorities that brought the housing unit Built by CGC Overseas Construction (Ethiopia) LTD held company that has also applied to construct such a project in the central part of the capital.
Tsehay was established in 2011 by POLILOTUS International Center as its first such project within the region and almost sold out all its units as soon as it started its construction project. It was built in a 30,000sqm area near the Roundabout of CMC whose presence has changed the once-abandoned part of the city. Inside, the complex has a rare green space, coupled with ample parking and a children’s play area.
Worth 5 billion Birr, each of the buildings is 12 stories long, with international standard finishing’s and mostly houses a fast-growing middle class, the diaspora, as well as a growing diplomatic community and investors looking for a high return in the booming local real-estate sector.
The company has currently placed advertisements on various TV stations alerting all paid-up clients to pick up their title deeds.