I have paid 100% for the three bed rooms apartment 3 years ago. I did not get any thing as of now. I have been tired of corrupted politicians lying as usual!!!
Brother, the good thing you didnt take out your money. If you are sick and tired, do something about it! Find 9 other people and form a housing cooperation! Thats how its done all over the world. You know how they make tons of money by converting a small plot of land? Get a plot of land, yes you are allowed from city administration or Land Bank, especially if you are a Cooperative. Say you get 250msq land at auction price of 2500 birr per sqm. 2500 birr per sqm is actually on the expensive part of town, So thats 620000 birr for the land (62000 birr each per family). Build 10 floors for 10 families, with 3 bedrooms each on every floor. Or really large 2 bedrooms and 3 bedrooms, 5 floors each. Those who want the 3 bedrooms will pay more accordingly. One floor could be build for less than 700000 depending on the type of finishing, so thats less than 800000 per family. Thats it, you have just formed a Housing Coop. Thats how they turn a 250sqm land into 2500sqm. Good luck. Please Share info with others!