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To start manufacturing houses at a factory level
Addis Prefab Houses Manufacturing Industries S.C, which pledges to build durable, efficient and cheap luxury villas and condominiums in 45 days, laid a cornerstone for the construction of its factory in Sendafa Town of Oromia Special Zone. Located 40 km North of Addis Ababa, the company has also promised shareholders to deliver the keys of houses, constructed using a load bearing wall floor structure made of light gauge steel, by mid May, 2013.
Addis Prefab procured the light gauge steel technology worth 64 million birr from Generis, a US Company, that specializes in Light Steel Framing (LSF) Turnkey Business Solutions. The procurement also includes installation and training.
Addis Prefab believes it has taken a major stride to achieving its goal in becoming the largest manufacturing and supplier of light steel framing solutions in the region. The construction utilizes Light Gauge Steel (LGS) structure frames typically clad with Calcium Silicate Boards (CSBs) to build its houses. These homes and buildings are the same as those built using conventional materials and techniques. Manufacturing houses at a factory level has been made possible with a load bearing wall and floor structures of LGS profiles reducing cost of building a home by 30 to 40 percent and making construction 500 to 800 times more rapidly.
The construction of the manufacturing plant has begun in Sendafa on a plot of 50,000 m2 obtained from the Oromiya State Regional Government Investment Bureau on a lease basis. A foundation stone was laid on Thursday December 20th. The first 4,000 m2 of factory building for the light gauge industrial production line will be completed by the company’s engineers in 45 days. In addition, Addis Prefab has bought a mobile factory that is due to arrive in two weeks time. The mobile factory bought from Pinnacle Building Technology is worth 7 million birr, and is expected to considerably speed up the construction and delivery period.
When fully operational, the company will construct 1,400 houses in its first year of operation. Every year the construction is estimated to increase by 1,000 houses.
Addis Prefab will build 1,400 apartment units and 50 G+1 villas which would be offered to shareholders for 325,000 birr and 407,000 birr, respectively. As a pioneer real estate developer in prefab housing the company plans to start construction of the first batch around Bole Bulbula area on a 15,000 meter square plot. The company has also another 30,000 meter square of plot around the area commonly known as Summit. Both plots have been acquired from other real estate companies whose name they didn’t want to disclose due to their non-disclosure agreement with them, Fikremariam Alemu, CEO of Addis Prefab, told Capital.
The government will also be able to obtain 220 million birr tax every year from the company’s projects and 20 million USD would be saved as the company uses 88 percent of the construction equipment from local sources. Only 12 percent of the construction material, such as reinforcement bar would be imported. The construction is also expected to create 5,000 permanent and 60,000 non-permanent job opportunity for TVET graduates.
Founded two years ago by six individuals with an initial investment of 900,000 birr, the company has sold out 39 million birr worth of shares in only three months.
Addis Prefab had previously planned to deliver its innovative houses in January. However, due to delay in getting foreign currency and loan from banks it was forced to postpone the delivery to mid May. It has now secured 1.9 million USD loan from different banks. Meanwhile, some 70 international and local industries of textile and garment, leather and hide, steel, flour, chip-wood, among others, have commenced operations, in Sendafa town.