Ethiopia's Federal Supreme Court has ruled that Flintstone Homes cannot be forced to build houses sold at fixed prices a decade ago. The decision provides a precedent for real estate developers and offers refunds to over 700 buyers based on earlier top-up requests rather than current market values.
The Federal Supreme Court's Cassation Division issued the ruling on a case involving Flintstone Homes S.C. The company had sold homes at fixed prices ten years earlier but later sought additional payments from buyers.
More than 700 buyers who pursued the legal action will now receive refunds. These payments are calculated according to the top-up amounts previously requested by the developer.
The outcome ends a decade-long dispute for the buyers without delivering the homes at the original prices. The court decision establishes a new precedent for similar disputes in the real estate sector.
