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The Chinese based, Guangdong Chuanhui Group, is expectantly awaiting the City’s go ahead to take over the 41,000sqm of land at Urael area for the construction of one of the tallest buildings on the continent.
The Chinese company who submitted its land request about two years ago plans to build a 58 floor five star hotel, which will make it one of the five tallest buildings in Africa. Guangdong Chuanhui manages six large hotels in China and wants to implement the project quickly. According to information obtained from the City Land Administration Office, four additional local and international investors have submitted five star hotel proposals to the city administration.
Currently billions of birr are expected to go into the hotel, only two years ago they expected it to cost 2.4 billion birr but now prices have skyrocketed. Two years ago Guangdong Chuanhui requested 50,000sqm of land in the area from Meskel Square to Bole.
However, that location has changed since the city approved an area in front of Urael Church, Haile Gebre Sellassie Avenue, which is also a central location in Addis Ababa.
According to Alem Desta, the company has to wait until dwellers are relocated from the area. The plot that is expected to be