Welcome to the Access Real Estate Home Buyers Association (AREHBA) website. AREHBA is a legally established association of home buyers organized under the slogan "Our Agreements Must be Honored". The association was established in 2020 in accordance with the provisions of the Civil Societies Organizations Proclamation No. 1113/2019. The circumstances that led to the formation of AREHBA are briefly outlined below.

Starting in 2010, Access Real Estate promised to deliver apartments, villas and commercial space at attractive prices. Many flocked and bought homes. The number who bought is now in dispute. Mr. Ermias Tekil Amelga, who was the chairman of the board of Access Real Estate, quoted the number 2050, out of which some 500 had cancelled their agreements and been paid back their money. Others claimed it is 2,500. Whatever the actual number might be, some of those home buyers have paid 1.3 billion Birr.

It has been reported that Access Real Estate was established with a start-up capital of Birr 50,000. Soon it was able to accumulate capital worth more than 30 million Birr. It came up with flashy brochures announcing offerings of apartment houses, villas and commercial space at very noteworthy locations to be delivered within a time span of a maximum of 18 months and a minimum of one year, something unheard of before in the real estate market. It also offered to pay Birr 5.000 each month for purchases that are delivered later than their agreed delivery dates. Home buyers were also assured that anyone who cancels his/her agreement was going to be paid his/her money back plus 15% interest.

All these favorable factors had attracted a lot of interest and made many to part with their hard-earned money. Some had even paid with their lives' savings, and some with their pensions because of their desire to live in attractive houses and surroundings.

Until 2014, home buyers have been waiting patiently in the hope that their homes might be delivered to them. But, when it was reported in the newspapers that the CEO of the Access Real Estate Share Company had left the country, there was a big unrest and anger. Many court cases were started. On the orders of the former Prime Minster Hailemariam Desalegn, a committee comprising of high government officials, the "Abiy" Committee, which means a higher committee, was established in June 2014. There was also a technical committee. Unfortunately, these two committees have not brought a lasting solution to the problem.

It has come out that the "Abiy" Committee has proposed that home buyers should be organized into associations and that plots of land from those that have already been developed or are not developed should be given to them. If this proposal were to be implemented, it is obvious that the home buyers will not get the prime sites stipulated in their agreements with Access Real Estate Share Company. It would also mean that those who have paid in full will have to pay again to build their houses on their own.

Unfortunately, the home buyers committee has been running for the implementation of the above-mentioned proposal and asserting that home buyers have agreed to build their houses on their own although it has never consulted them. This is highly unacceptable to most home buyers, if not all. Many have already paid in full for the purchases they made from Access Real Estate Share Company. Expecting them to pay again is completely unjust, unreasonable, and unacceptable by any standards.

So, this situation has forced some home buyers they cannot seat idly while their interests are being abused. They have come together and are demanding that the agreements they entered into with Access Real Estate Share Company must be honored and that they must get their homes without any expectation of additional payments.

There is too much at stake. There are too many self-interest entities involved. If the matter is left to any single one of them, there is going to be conflict of interest. So, home buyers need to get involved in a united manner to bringing about a successful conclusion of this sad matter.

Our Agreements Must Be Honored!