Ethiopia Industrial Inputs Development Enterprise (EIIDE) has concluded the design work for the construction of its headquarters building within its premises located in Addis Ababa near the African Union Headquarters.
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Planned on 3,103 square meters of land, the building will occupy 1,740 square meters which are approximately 56% of the entire site. The 18-story mixed purpose building is expected to host office spaces for Banking & Insurance services, cafes, meeting halls, and a guest house among others.
It will also have a four-story basement for parking, gymnasium, a powerhouse, water reservoir, and other facilities.
“According to the newly enacted construction guideline by the Addis Ababa City Administration’s Construction Bureau, the enterprise will make 40 percent of the HQ floors for guest houses and residential spaces,” disclosed Gutema Kesu, the project engineer at Ethiopia Industrial Inputs Development Enterprise (EIIDE).
The Ethiopian Construction Design and Supervision Works Corporation designed the head office building and expects to manage the consultancy work while the bid for the project contractor will be disclosed in January next year.
“The design approval is done and the bid to hire a Grade-one national or international contractor will be floated by the end of January 2021. We intend to finish the foundation work before the rainy season,” said the project engineer.
The Enterprise will use its fixed assets as collateral to get loans from banks to match the already allocated budget for the construction.
Expectations for the project
The construction of the headquarters is expected to be completed in less than three years, upon which they will enable the Enterprise to enhance its capacity to generate income. “The location of the proposed facility is a key destination to expand EIIDE’s services and earn extra incomes,” stated Gutema.
The infrastructure will also save the Enterprise 13 million birr annually in rental costs.