This petition is prepared to appeal to the Government of Ethiopia and call for urgent action against some Real Estate companies who continue to rob citizens of their hard-earned money.

The Real Estate industry is a multi-Billion-birr industry which deserves high priority as it supplies shelter which is one of the necessities of humanity. The industry has been providing significant employment opportunities for decades and has the potential to provide even greater benefits to our country. Unfortunately, from the outset, the Real Estate industry has experienced serious problems. There are many well known cases in Ethiopia where Real Estate companies contract with individuals to deliver houses and/or apartments but after being paid, were unable or unwilling to deliver what was promised.  An important responsibility of a government is to protect its citizens from being robbed and hold the perpetrators accountable.

The initiators of this petition have first-hand experience of the harm done to unsuspecting and trusting purchasers by a developer called Tsehay Real Estate (TRE).  TRE demonstrates how some unscrupulous real estate companies continue to rob innocent citizens of their hard-earned money. Individuals bought homes from TRE not just believing the company’s promises but also convinced that the government would protect them from exploitation. Some of the actions of TRE that have caused very serious harm to homebuyers include:

·        TRE intentionally failed to have Split Title Deeds prepared and handed over to homeowners who have paid in full.  Instead, TRE mortgaged the common Title Deed, took a loan from Buna Bank and then failed to repay the loan.  This led to foreclosure and the advertisement of the whole complex for sale, including homeowner’s apartments that were fully paid for.

·        In breach of its contract with homeowners, TRE failed to construct the commercial center within the agreed timeframes and then significantly changed the original design and added many more apartment units. The commercial center in its original design was widely advertised and was a key selling point for homebuyers.

·        TRE continues to refuse to hand over the ownership and management of the common facilities to homeowners and their legitimate association (HoA), with the apparent intention of continuing to unilaterally impose exorbitant fees on homeowners without demonstrating value-for-money.

·        TRE continues to attempt to undermine and disrupt the efforts of the legally elected HOA to secure the rights of home owners.

The above problems are not unique to Tsehay Real Estate but are increasingly a regular experience of many homebuyers who purchase from real estate companies.

We are seeking support from our fellow citizens who share the believe that real estate companies should not be allowed to get away with robbing individuals of their hard-earned money in broad daylight.  We ask our Government to hold dishonest Real Estate companies accountable for their actions and take urgent steps to stop their exploitation of hard-working Ethiopians.