Access Real Estate Home Buyers Association (Review)

Access Real Estate Home Buyers Association Review

Access Real Estate Review.

In the midst of the Ethiopian, especially Addis Ababa, housing market share booms, the Access Real Estate emerged as a beacon for aggrieved home buyers. 

Access Real Estate Home Buyers Association (AREHBA) is a legally established association of home buyers organized under the strong slogan “Our Agreements Must be Honored.”

In accordance with the provisions of the Civil Societies Organizations Proclamation No. 1113/2019, it was established in 2020, bringing the circumstances of formation. 

This blog post briefly delves into Access Real Estate’s background, its fight for justice, and the current situation for homeowners in Addis Ababa.

Access Real Estate Contact Information

Contact Information of Access Real Estate:

  • Website: https://arehba.org/
  • Telephone: +251-118-634520 and +251-965-502903
  • Email: access_home_buyers@yahoo.com

About Access Real Estate Home Buyers Association Background

Access Real Estate Home Buyers Association (AREHBA) Homepage

Access Real Estate Home Buyers Association or shortly AREHBA was established in 2020 and obtained its certificate of registration in the 12 Month of October to a long and frustrating saga.

By the following years, the company promised a plethora of apartments, shops, villas, and other commercial real estate property spaces at competitive prices. This leads to a number of Ethiopians eager for the housing dream.

Once they flocked to purchase properties, Access Real Estate Share Company failed to deliver on its promise as per the agreements. It then entered a dispute with home buyers — its manager leaving the state.

Affected home buyers are estimated ranging from 2,050 to 2,500 by Access Real Estate. These people had paid a hefty 1.3 Billion Ethiopian Birr for properties that never turned into reality. Dreams turned into nightmares. 

Supposed to safeguard the interests of all home buyers, the representatives committee took action to be working against the best interests of most of the counterfeited home buyers by creating mailing lists and contacting them.

Projects and Apartments by Access Real Estate Home Buyers Association (AREHBA)

Besides the fraudulent drama discussed earlier, the Access Real Estate has tried to build apartment projects for a group of home buyers, calling itself “Dedicated Home Buyers.”

Despite trying to counter the activities of the newly branded “Abiy” Committee, some home buyers cannot sit idly while their interests are being abused. 

They have come together that the agreements they entered into with AREHBA must be honored and that they must get their homes without any expectation of further payments.

With too much at stake and too many self-interest entities involved, the details of undelivered promised developments projects remain unclear.  

That said, the following were the 3 major projects of Access Real Estate (We don’t know whether they are delivered or undelivered though):

Project 1: CMC Meri

Access Real Estate Project 1 CMC Meri

Project 2: Megenagna 3 Apartments

Access Real Estate Project 2 Megenagna 3 Apartments

Lastly, Project 3: 1717 Plaza

Access Real Estate Project 3 1717 Plaza

Other Sites:

The following are the sites owned by Access Real Estate Share Company, and had the properties bought by the members: Bole Japan, Bole Medhanealem, Bole Mega, Bole Werbek I, Bole Werbek II, Lebu, Nyala Motors Laura, Nyala Motors Mieraf, Yeka Beverly Hills I, Yeka Beverly Hills II, etc

Pros and Cons of Access Real Estate

At Access Real Estate, Home buyers were assured that if they canceled their agreement, they were going to be paid their money back with 15% interest rate.

These favorable factors had attracted a lot of interest and made many to part of it. Some had even paid with their lives’ savings, hard-earned money, and with their pensions because in order to live in alluring houses and surroundings.

And that comes with some advantages and disadvantages over the course of the years, which we are going to look at.

Pros:

  • The company’s existence itself is a positive step: According to a report, Access Real Estate was founded with a start-up capital of Birr 50,000, and eventually it was able to accumulate capital worth over 30 million Ethiopian Birr.
  • It provides a unit, advocates, and shares information for homeowner rights: With flashy brochures announcing offerings to be delivered within a time span of a maximum of 18 months and a minimum of one year, all NEWs are broadcasted in the real estate market. 
  • The website serves as a valuable resource: Keeping members updated on the latest developments, for instance, they offer to pay Birr 5.000 each month for purchases that are delivered later than their agreed delivery dates.

Cons:

  • Lack of concrete progress for homeowners casts a shadow. Even though a high-level committee, the “Abiy” Committee, composed of high government officials was established on the orders of former PM Ato Hailemariam Desalegn, years have passed since the initial complaints arose, and tangible solutions seem elusive. 
  • The absence of a clear path forward can be disheartening for members: Some of the home buyers, later on, have agreed to build their homes by themselves and for the land to be given to them, something over which were never consulted.

Awards and Prizes dedicated to AREHBA

Awards and Prizes of AREHBA

In fact, the “Abiy Committee” was tasked to study the problem facing this real estate and propose actionable solutions to assure them that the company has not gone bankrupt, let alone win awards and reach significant achievements. 

Later, some home buyers’ came to learn that the “Abiy” Committee without honoring the promise it had made to home buyers to hold another meeting with them had dissolved itself after submitting its report.

An online group was also created and all home buyers with known email addresses were invited to join because contacting more than 1,500 home buyers by mailing list was not the proper way to do it. 

The online group enabled home buyers, no matter in which country they reside, to exchange relevant ideas. The problem was there was no one to follow up on the good ideas and get them to be executed. 

Due to that some of the home buyers started to suggest an association be founded on the spot. And that is how the AREHBA (Access Real Estate Home Buyers Association)  came into existence.

Since their achievements lie in bringing together a community of wronged individuals and raising awareness of the situation, Access Real Estate Associations hasn’t received any public awards or recognition so far.

Customer Reviews and Feedback

Finding reviews and feedback on AREHBA is challenging as it is filled with a mix of emotions. Some members feel a sense of solidarity and hope due to the association’s efforts, and others express frustration with the slow pace of progress.

What is known is that until 2014, home buyers have been waiting patiently for their homes to be delivered to them. But, when the Access Real Estate founder and chairman, Ermias Amelga had left the country, there was a lot of unrest and anger. 

Because many court cases were started, on the orders of the former Prime Minister a higher committee was established in June 2014 as mentioned before. Unfortunately, these two committees have not brought a lasting solution.

The proposal was obvious that the home buyers will not get the prime sites stipulated in their agreements with the Company. In turn, this means that to build their houses on their own, those who have paid in full will have to pay again.

So yeah, Customer Reviews and Feedback for the Access Real Estate Home Buyers Association (AREHBA) is not that much positive.

Overall Judge:

Once started in 2010 with a big vision, Access Real Estate, initially, promised to deliver apartments, villas and commercial space at attractive prices — leading to flocking home buyers that paid 1.3 Billion Birr. 

The number who bought the Access Real Estate quoted by Mr. Ermias Tekil Amelga, who was the chairman of the board, is 2050. Out of the 2050, some 500 had canceled their agreements and been paid back their money. 

For homebuyers in Ethiopia, the situation of Access Real Estate is a stark reminder of the importance of transparency in the real estate market. At present, reliable information and exercising caution always remain paramount.

For AREHBA, the fight continues. Updates over updates, clear communication strategies, and a commitment to member well-being are all crucial for maintaining hope and achieving a truly positive outcome in the long run.

Overall, Access Real Estate Home Buyers Association represents the resilience of Ethiopian homebuyers. It provides a crucial platform for advocacy while the fight for justice seems far from coming to halt .  

For justice, securing compensation, property delivery, or a clear roadmap towards resolution to see concrete progress on the latest developments for its members becomes a balanced judgment after all.

For more, if you want the best deal, affordable price, as well as the best real estate location, call me by the phone +251948879335 or send me a message by the email onlinemoneyspinner.com@gmail.com — as I’m the best Real Estate Agent in Addis Ababa, Ethiopia.

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