Ethiopia: Benishangul-Gumuz Cabinet Reclaims 50,000 Sqm of Underdeveloped Urban Land From Investors, Warns Inactive Developers

20 December 2024
Addis Standard (Addis Ababa)

Addis Abeba — The Benishangul-Gumuz Regional State Cabinet has resolved to reclaim and transfer 50,000 square meters of urban land, previously allocated to investors but left undeveloped within the agreed timeframe, to the land bank.

Chaired by Ashadli Hassan, the president of the region, the cabinet convened on 19 December, 2024, to deliberate on strategies for enhancing the engagement of investors in the urban investment sector and addressing cases where allocated land remains undeveloped.

In a statement released following the meeting, the cabinet underscored that certain investors, who had acquired land for urban investment, have failed to meet their contractual obligations by not initiating development.

Moreover, the cabinet raised concerns about over 80 investors who had obtained urban investment plots but have yet to commence development.

After discussion, the cabinet decided to implement close monitoring measures and take appropriate action against any investors who fail to begin development within the stipulated period.

Read the original article on Addis Standard.

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