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Plans to attract headquarter buildings for Multi-National Corporations
After the demolition of 130 houses around Kazanchis in wereda 8 of Kirkos Sub-City, the Addis Ababa City government is going to put the area for an open tender.
Commonly known as Kazanchis, which lies on 28 hectares, will be up for an open bid that will be used for construction of various facilities including hotels and business centers, with buildings rising as high as 12-storeys.
Tegegn Faffu, Kirkos Land Management Office Head told Capital that the City Administration will put up the area for auction and the highest bidder will be awarded. “The area needs another bidder who wants to build facilities according to the master plan and this will be determined by the city administration through an open tender” he said.
According to the latest Addis Ababa and The Surrounding Oromia Special Zone Integrated Development Plan, the area is included in the main city center and is linked to La Gare, which will be a multi-modal transport hub along the LRT route. The plan also suggests that the area should accommodate high quality offices, retail and recreational facilities and also have a potential to house headquarters for Multi- National Corporations. In addition, people living in the Kebele house will be relocated to Hayat Condominium Two site, if they can pay the 20 percent down payment. “Those who can’t afford to do this will get another Kebele House in other areas” the head further said.
Demolition has already begun and by the end of this fiscal year, the area will be ready for redevelopment.
This will be the second phase of demolition and reconstruction taking place in Kazanchis, as part of the Local Development Plan for the city. The first phase took place a decade back where several high-rise buildings, including Intercontinental Addis, Radisson Blu and Elilly hotels were built in the area.
Tegegn further added that all the kebele houses will get a condo house of their preference. “When we redevelop the area, we give priority to the people who have already been living there.’’
“Previously the city administration decided such things, but now we have enough condo houses to accommodate all people who have had their homes demolished, so we will prioritize the comfort of these residents,’’ he said.
Last week Capital reported that a 449 square meters plot of land located in Addis Ketema Sub-City commonly known as Berbere Terra fetched an astounding 307,000 birr (around USD 15,500) per square meter at the 11th round of Addis Ababa City Administration land lease auction. The total cost of the land adds up to 137.8 million birr. The floor price of this particular plot was 1,323 birr per square meter