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Ethiopia: More Charges Pile up on Access Real Estate

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04/16/13

  09:31:05 pm, by admin, 281 words  
Categories: Ethiopia

Ethiopia: More Charges Pile up on Access Real Estate

Ermyas T. Amelga founder of Access Photo Addis Fortune

Ethiopia: More Charges Pile up on Access Real Estate

With the CEO still hiding away in the US, Access’s crisis deepens with each new claim

With five charges already bearing down on it, Access Real Estate SC, is facing three additional suits, claiming a total of 4.3 million Br.

The company, whose president, Ermias Amelga, moved to the United States a few weeks ago, had collected money promising to deliver houses on 19 different sites in Addis Abeba. After the failure to deliver any homes on schedule, these sites have all now set up subcommittees, which in turn created a parent committee to manage their dealings with the company and the courts.

Access could potentially face a class action law suit from one of these committees over the coming weeks. So far, the charges have come on an individual basis, with the first five homeowners claiming 6.5 million Br in charges filed two weeks ago.

The biggest claim in the new charges has come from Dereje Mekonnen, who says that he had made the full payment of 1.575 million Br on January 4, 2010. Upon payment, the company had promised to deliver the house in 18 months. In case of late delivery, Access had agreed to pay 5,000 Br in monthly house rent to the affected party, or to return the money with 15pc interest.

Dereje filed the suit following a notice he gave to the company on February 12, 2013, for the termination of the contract he had with them. He had asked the company for a refund of the 15pc VAT it had paid, but was able to get only 30,000 Br, according to the charges filed.

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Comment from: Leba hulu [Visitor]
Leba hulu

Well, there is an easy way out of this mess. He will blame the politics or Woyane and get the full support of sick diaspora. He can even be invited to join the sikos as a member of transitional government or esat commitee. We have seen it before and don’t be surprised if it happens now.

04/16/13 @ 23:59
Comment from: selamawit tesfaye [Visitor]
5 stars
selamawit  tesfaye

we all knows this is coming coz all the woyane deliberate destruction to this clean heart great Ethiopian truly successful businessman almost clear to everybody the major problem they done to him is delays all his import building material
there is no place to Ethiopian business man in that country as long as if you 100% OK with woyane to me this need to stop first before we start put our mony in drain just like MR ermias amalga all I say i’m addis ababa residence from day one we know this is coming coz my best friend knows top man in power that she almost control the man he talk he say he is against to the government stupid policy but he say there is nothing he can do to stop it
he say they don’t want heard no businessman other tribe except woyane they layout carefully worked out plan to kill put out other tribe business to me the way it is now in Ethiopia show misfortune is on the way lot of Ethiopians everyday affected with grief saddened with the governing control stupid policy it is our country we need change it just like any other country

04/17/13 @ 00:08
Comment from: getachew demeke [Visitor]
4 stars
getachew demeke

IN THE VARY FIRST PLACE HE SHOULD WAIT COZ WE STILL AT WAR .
WOYANE STEP BY STEP IS KILLING OUR COUNTRY I GUESS WE ALL ARE SELFISH WE LOST OUR PORT WE STILL DO NOTHING
HERE NOW START KILLING GREAT BUSINESS PEOPLE LIKE mr AMALGA THERE IS MORE TO COME JUST WAIT

04/17/13 @ 00:18
Comment from: C'est moi senait [Visitor]
C'est moi senait

The greatest fraude and tragedi in ethiopia history since the birth of Lucy coused by these HODDAMS. Have any one of you read à book “"The greatest Trade ever by Gregory Zuckerman"". ? That is what coming to Ethiopia soon. These Hoddams are just doing the Same system they copied and brought from LA. Where the house Market is at bottom of bermuda triangle.

04/17/13 @ 03:00
Comment from: MK [Visitor]
MK

I know a bit about this venture. My overall feeling is that the Woyane machinery did want him to fail.
Remember what they did to Ayat Real Estates owner. Instead of a medal what he received was trouble. If you want to look for thieves in Ethiopia you do not have to really search. I guess I do not have to explain what i meant by this.
These two among others were pioneers which deserved some support - were we a normal country i.e The woyane closed credit possibilities to Mr Ermias. Credit is reserved for the privilaged few.
However I also do not understand the silence from Ermias. We deserve some explanation.
thank you

04/17/13 @ 04:36
Comment from: scorned [Visitor]
scorned

I am one of the victims and even though I blame myself for trusting the whole system in Ethiopia, I also blame the system for just handing out licences which it can not regulate..I am of the opinion that even if the buyers most of whom live abroad failed to follow-up their projects there should have been government body that monitors when a real-stte acquired a licencee and why it is not pursuing construction…one just need to go to Ayat site and see how many unfinished skeleton buildings have been rotting in all sorts of weathers some almost for over a decade and wonder if it would even be safe to be in them if and when they are finished…the whole affair is pathetic!

04/17/13 @ 04:44
Comment from: kely teshome [Visitor]
5 stars
kely teshome

he must trust so much woyane he should know better they are smooth snake never knew friend or family

04/17/13 @ 06:09
Comment from: Wetu Enewta [Visitor]
Wetu Enewta

Interesting, is it not?

The greedy rushed back to Ethiopia to claim land and build when the TPLF declared that the country is now ready for all, including swindlers and crooks. Without a meaningful legal contract enforced by a robust legal system, all are taking chances they should not be taking. But the greedy can’t tell the difference, and they deserve what is coming to them. Sadly!

04/17/13 @ 07:03
Comment from: king [Visitor]
king

Well we have to listen Ermias story the guy who is taking about Habesha real state they r the same person who collect money Habesha bira Habesha cement and now Habesha real state we did not c nothing so don’t make advert for Abeshsa real state remember Ermias is the one who make Eskinder what hd is right now

04/17/13 @ 07:29
Comment from: Semay-Dasu [Visitor]
Semay-Dasu

I don’t think any of the excuses mentioned justifies running away with money not earned. He should be accountable for his deeds. In the meantime, blaming the system can be done on any course. However, I don’t think it is right in any manner to take money from people with false promises. The people have all their right to claim their money with interest as per their agreement. “call a spade a spade!”. The story seems similar to Holland Car. I don’t think any of these deeds are supported by US or any other western country. Those who did not invest in Ethiopia (at least on villa or apartment), I don’t see any valid reason bet you could not afford it. Generally, don’t mix an orange with an apple. If he has the confidence, let him face his customers. If he is trying to steal, let him face justice. Most of those who commented above, I think you are suffering form ……

04/17/13 @ 08:14
Comment from: biniam [Visitor]
biniam

Ermias is a decent and honest business man who meant nothing but well for his country and in the process tried to make a good living.
He would have been successful anywhere else but chose to do it in his own country. The only thing he did not do right is kiss up with the Woyane like other business people do behind closed doors.

04/17/13 @ 08:41
Comment from: ababajahnohoy [Visitor]
5 stars
ababajahnohoy

@leba hulu

You read these “fidos” like a psychic.
Diaspor=etiopian tea party
Blame all their problem on epdrf

04/17/13 @ 09:32
Comment from: Selamawit Kebede [Visitor]
Selamawit Kebede

GUDE you see the diaspora hodams are thinking only of robbing and running away to their adapted countries. They have no moral obligation even to themselves live alone to any one. Shame of diaspora and that is why everyone is afraid of diaspora and their thinkings and motives. It is only me me the door is closed for now to let any homa in and I hope it will remain closed. Diaspora do you have anything to say to this?

04/17/13 @ 10:06
Comment from: Ash [Visitor]
Ash

I will say it million time Mr. Amalga and his real estate company is two diffrent people under the law both have equal right that means if Mr.Amalga commit crime his real estate nothing to do with crime…

U can jail even kill Mr. Amalga but how in hell u going to get ur money instead u have to save the company first the government can take over by buying share in this case by giving free land just like they give the Arab and Indian beside if we want Ethiopian business then we should help them otherwise what the point of saying we want ethioian investors..

To those who bought house yes Mr. Amalga promised 18 month but the government delay his project it was out of his control they even stop his project…

In short even in America the real eastate promise u two years and u don’t get ur house for five years… U can’t do any thing about it…. My second point is if u pull ur money now u will caused the company to fail and u lose every thing so the better way is to wait and figur out how to save the company….by doing so u help not only save ur investment and ur home but u save one great Ethiopian business…. U will be part of history how take part in nation building…. U will not be happy if u know ur grandfather fight in battle if Adawa…. This is also Adawa this time the enemy is poverty… U help to deffet poverty just for waiting extra two years..

The Ethiopian government also must grantee the investment so that the people can wait peacefully.

04/17/13 @ 10:09
Comment from: Kebede [Visitor]
Kebede

I would have titled the topic as ” The Falling of the Housing Bubble of Ethiopia", if you see the bigger picture of the crisis to unfold in Ethiopia.

04/17/13 @ 10:12

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