What features distinguish Kara kore housing project from others?
When will the construction start and when will the basic utilities become available?
How large is the area of the site? Is it going to be gated community?
Any other advantages?
What are the payment terms?
What guarantees do we have for the amounts we advance?
Are the plots lease or free hold?
Can the developer arrange for loans from local banks? If so, what are the requirements?
Can prospective House owners appoint representative to follow up on the progress?
How do you receive payments from abroad? Do you receive in cash, checks or bank transfer?
What is the procedure for allocating plots?
When do House owners get the title deed for their property?
If we design the plan for our dream home, will Kara kore Real Estate PLC builds it for us?
How many people are interested so far?
How far is the site from the city of Addis Ababa?
When do House owners get the title deed for their property?
What type is the Soil?
When do we need to register and when is the 30% deposit to be paid?
What is the arrangement for Apartment buyers?
Do you have an international Agent in other countries?
What is the advantage of buying property from Kara kore Real Estate?

	What features distinguish Kara kore housing project from others?

Kara kore housing project has many advantages.

• PROXIMITY, it is the nearest suburb to the centre of the city only 9KMs from Mexico square and 6KMs from the old airport.

• CLIMATE, Kara kore slops is located in the Ayer Tena district. As the name indicates thin area is known for its clean, unpolluted, all time fresh and crispy air.

• SCENERIES, from Kara kore slopes you can enjoy the most beautiful sceneries of Addis Ababa and the surrounding green mountains.
                                                                                                                                                          

	When will the construction start and when will the basic utilities become available?

• Construction of the first group of houses has already started and it is expected to complete those houses and deliver them to their owners around the end of the current year 2006.

• Furthermore, preparations are under way to start the construction of apartment building. All the construction will be under the supervision of top international and local engineer and consultants with the backing of the most efficient construction systems.

• As to the basic utilities, they have been already extended to the site, water is available in abundance from own well, and electricity and telephone are already there. The sewerage system will be constructed according to international specifications.
                                                                                                                                                          

	How large is the area of the site? Is it going to be gated community?

• The over all area is 300,000 square meters, the whole area will be surrounded by specially designed concrete panel wells security service will be handled by a specialized company.

                                                                                                                                                          

	Any other advantages?

• A community service area will be constructed it will contain such service as shopping area, recreation and sport areas, community halls etc. land escaping will be designed and maintained by professionals in this field.

                                                                                                                                                      

	What are the payment terms?

• 15% of the value of the selected villa or apartment upon signing the contract.
• 15% up on the start of completion of the foundation.
• 25% upon the completion of the brick work.
• 25% upon completion of roofing and electrical work.
• 20% upon completion finishing and delivery of the unit to the buyer.
                                                                                                                                                          

	What guarantees do we have for the amounts we advance?

• Buyers who want to insure the 15% advance payment can do so by paying 2% premium to united insurance Co. As to the consequent payments, since they are affected only after completion of each stage.
                                                                                                                                                          

	Are the plots lease or free hold?

Plot is leased from the Addis Ababa City Administration for 99 years.
As to the land lease, 20% is already included with the first payment advanced by the buyer for the house. The balance 80% will be settled by the buyer by installments over 20 years after the end of the grace period.
                                      

	Can the developer arrange for loans from local banks? If so, what are the requirements?

Yes our company will arrange finance, but only on the extent that we prove to the bank that 50% of the construction has been completed and been paid for by the buyer and 50% will be paid by Bank. Construction and business Bank in Ethiopia provides mortgages for residential Houses and apartments. Under ideal conditions the bank can loan up to Birr 1.5 million per person provided the borrower covers a third of the total construction cost from his/her own source. The mortgage is payable within a maximum period of 15 years. However, its exact amount and duration is determined by taking into consideration the borrower’s situation and monthly income, his or her age, marital status and situation of their general health. We would allow the bank to have first degree collateral on the title deed of the plot which the Houses or apartments value.
                                   

	Can prospective House owners appoint representative to follow up on the progress?

Yes. The only requirement is that representative has legally authenticated power of attorney, a certified copy of which should be lodged with us.
                                                                                                                                                          

	How do you receive payments from abroad? Do you receive in cash, checks , ank transfer?

As a rule, we prefer all payments to be made through bank transfer. However we also accept cash. Cheques as long as these are done though the bank. Please refer to the "Bank Addresses" section of our website for more information.

                                                                                                                                                          

	What is the procedure for allocating plots?

Plots are allocated on a first-come first-served basis. The plots number is ready for each plot. Houses and apartment type will be choose from brochure and fixed on signing agreements.

	When do House owners get the title deed for their property?

As per our agreement with Addis Ababa City Administration, the title deeds are released at the time of handing over of the property and after all payments paid in full. Kara Kore real Estate PLC will release title deeds to banks on behalf of our clients who need mortgage financing to build their Houses.
                                                                                                                                                          

	If we design the plan for our dream home, will Kara kore Real Estate PLC builds it for us?

For reasons of efficiency and economy, Kara Kore real Estate PLC is trying to build standardized Houses and apartments. Therefore, it will be difficult for us to accommodate any number of individual plans. If the design is with in our standard & acceptable According to municipal regulations we will do the construction. Any extra cost will be discussed and agreed up on signing the contract with buyer.
                                           

	How many people are interested so far?

So far, over 65 people are paid the advance. More than 1200 people are regesterd to buy property with KARAKORE REAL ESTATE P.L.C. (Hill View Home Project.)
                                                                                                                                                          

	How far is the site from the city of Addis Ababa?

The site is 9km distance from Mexico square and from old airport to hill view home About 6 km. Hill view home is the nearest suburb in Addis Ababa.

                                                                                                                                                          

	When do House owners get the title deed for their property?

As per our agreement with Addis Ababa City Administration, the title deeds are released at the time of handing over of the property and after all payments paid in full. Kara Kore real Estate PLC will release title deeds to banks on behalf of our clients who need mortgage financing to build their Houses.

                                                                                                                                                          

	What type is the Soil?

Soil investigation was done by specialist firm from Addis Ababa. Three bore holds on different spots of site, depth exceeding 10 meter deep were done. Tests showed strong good soil. Yet for fare more safety reason, every building is designed on one continuous strip foundation. This is to avoid any problems due to any differential settlements may occur if using other types of foundation known as separate foundation under columns. Thus a little more cost using continuous strip foundation, but definitely no cracks may happen in the future.

                                                                                                                                                          

	When do we need to register and when is the 30% deposit to be paid?

Registration should be made as soon as possible because early registration also means early allocation of plots. The registration fee is 3,450 birr and 15% down payment is due at the time of signing contract agreement, and choosing accommodation type.

                                                                                                                                                          

	What is the arrangement for Apartment buyers?

We have two types of arrangement s for the apartment buyers.

First option is by group of 2,4 or 8 gropes of families according to the CANDO type they chose. Each family will have the title dead after finishing the construction and made the all payment.

Second option is one individual family can buy the apartment and rent it.

                                                                                                                                                          

	Do you have an international Agent in other countries?

Yes we do have Representative Agents, in USA, UK, Holland and Saudi Arabia e.t.c. Check our website and broachers for more information.

                                                                                                                                                          

	What is the advantage of buying property from Kara kore Real Estate?

• Our company founders are foreign investors they relay on quality of finishing materials, up to date designs and construction.

• Highly skilled foreign construction engineers and designers are working for our company.

• Infrastructure development, such us:- water, electricity, telephone and road construction will be by our company. There fore you have no problem.

• We learned from our past experience the on going problems in real estate developers. We can assure you that by investing on property with Kara kore Real Estate P.L.C the reliability, efficient, timing and most importantly quality of project and expected neighbor and any service you thing about, are achieved target.

• In Kara Kore` your first impression will be the lightness of the air. You will surely enjoy the crisp, fresh and unpolluted air carried to you by the gentle breeze from the clean surrounds Buying a home in Kara kore` is a rare chance; it provides you with an enjoyable life and it is an investment of ever increasing value.