2merkato

Flinstone Homes, Ethiopia transferred 527 homes constructed at the Twin Crossing Site in Addis Ababa.

The real estate company constructed 450 apartments, 60 town houses and 40 Villas at the site which is located in a sub urban setting with scenic views as well as access to a four lane high way and several private housing developments in the area.

The private sector housing projects complement the urban development program which is designed to alleviate the shortage of housing in the city according to Hailemeskel Tefera, State Minister for Urban Development and Construction.

Ethiopia is to build a new international airport between Meki and Modjo roads to address the growth of air traffic at Bole International Airport, Addis Ababa.

The Ethiopian Airport Enterprise is conducting a study to build a new international airport said Colonel Wossenyeleh Hunegnaw, Director of the Ethiopian Civil Aviation Authority.

Bole International Airport, Addis Ababa currently services more than 150 flights daily with Ethiopian Airlines accounting for more than 60 departures a day while the numbers of international carriers operating in out of the airport have also increased to 13 contributing to the need to build a new airport explained the source.

The city administration of Addis Ababa has finalized preparations to construct 35,000 condominium houses in the next financial year said the Construction and Housing Development Bureau of the administration.

The houses will be constructed at the Yeka Abido, Arab and Kilinto sites all reserved for the construction of condominium housing said Getachew Hailemariam, Head of the Bureau. 70% of the houses are designated for low income households he noted.

The administration expects to build more than 170,000 condominiums in the coming three years he added.

The first phase of the expansion work on the taxiway of the Bole International Airport, Ethiopia was completed said the Ethiopian Airports Enterprise. The project was completed at a total cost of 1.1 billion birr.

The expansion project was intended to enhance the airport’s capacity to meet air traffic flow said Wondim Teklu, Head of Public Relations and Communications Service with the EAE.

Bole International Airport is able to offer service to 34 aircraft simultaneously following the completion of the first phase of expansion. The airport currently services up to 110 aircraft a day making it one of the busiest airports in East Africa according to sources.

The Federal Sports Commission, Ethiopia officially revealed that the JADAW firm are the winners of the bid to prepare the architectural design of the new stadium to be built in Addis Ababa.

The stadium to be constructed in the area around the old Imperial Hotel is expected to seat 60,000 people and will be built at an estimated 1.6 billion birr according to the architects.

A detailed cost analysis will be revealed in the future according to the announcement by the commission.

The City Administration of Addis Ababa, Ethiopia is set to transfer 20,000 condominium houses to beneficiaries in the next two months announced a statement.

The construction of some of the condominium buildings is fully complete while others are still under construction according to the statement released by the Construction and Housing Development Bureau of the City.

The buildings are located at various sites around the city including the Jemo II and III sites and Lideta.

Jijiga International Airport, Ethiopia is expected to inaugurate its passenger terminal and become operational in the coming few days. The construction of the airport took more than three years with the inauguration schedule delayed by more than a year.

The new passenger terminal will raise the number of passengers the airport is able to host from just 20 to 176 as well as offering place for offices, duty free shops, banking services, restaurants, souvenir shops and other amenities said Wondim Teklu, Head of Public Relations with the Ethiopian Airports Enterprise.

United Insurance, Ethiopia has awarded Magercon Construction the contract to for the first phase of construction on the 42 million birr mall in Addis Ababa.

The insurance company has been negotiating over the 20,000m2 plot of land for the building requiring a revised site plan after claiming to have lost an estimated 200m2 due to road constructions.

United was awarded its revised plant by the City Administration with the understanding that it should commence construction in six months.  

Awash International Bank, Ethiopia is inaugurate an eight floor structure to house its main branch in Adama.

The new building lies on 1020 m2 with two basements. The construction took 53 million birr and four years to finalize and will be inaugurated in early June according to Abebe Dheressa, Planning and Business Development Manager with Awash.

The bank already has two branches Adama. Awash planned to construct a five storey building on the land it leased from the city. The bank paid 376,640 birr in compensation to residents who had inhabited the residential units that had been on the plot previously, and administered by the Agency for Government housing.

Addis Prefabricated Housing Manufacturing Industries SC, Ethiopia has sold 31.4 million birr in shares in just the three months exceeding its target capital goal of 29 million birr. The share company floated 29,000 ordinary shares at a value of 1,000 birr since the 16th of February and has attracted 773 investors so far.

The company extended the deadline it had set for selling shares from April 16th to the 20th of May following the demand seen on the market claimed Gezahegn Yayinshet, Chairman of the Board.  

The minimum share allotment for one investor is 25 and the maximum 500 shares. A 10% service charge is levied on investors and they are expected to pay 60% of total investment on subscription a further 20% is due three months after the general assembly and the final 20% will be paid another three months after the second allotment is paid.