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The Headquarters of Wegagen Bank, one of the most expensive buildings, was inaugurated yesterday with the presence of top government officials.
The 33-story building found in front of the Addis Ababa stadium is located at the heart of the capital city. It has consumed over 805 million birr, which is considered as the most expensive tower to have ever been built by an Ethiopian company or individual.
The most expensive building in the country was donated by Chinese government for the continent, the African Union HQ, which consumed about USD 200 million.
The building that took over four years more than its scheduled time due to redesigns and delays of some import materials has three underground parking floors with a capacity to park over 100 cars.
Fikru Woldetensie, Marketing and Corporate Communication Directorate Director of Wegagen, told Capital that the building shall consume more than the stated amount of money when additional interior and furnishing works are added in the coming few weeks.
The bank that paid over 20 million birr for a rent at Dembel City Center, one of the iconic buildings in the city, will fully move to its new space in the coming few weeks, according to Fikru.
The bank stated as one of the four most profitable private banks in the country, it has assigned the Chinese state-owned, China Jiangxi Corporation for International Economic and Technical Cooperation to undertake this project. The design and project consultancy work is undertaken by a local company, ETG Design and Consultant plc.
Fikru said that the structural design was carried out by other local building consultant MH Engineering plc.
So far from the 9th floor to the top will be enough for the bank’s headquarter operations accommodating about 550 staffs.
The bank has a plan to open premium branch at the ground floor to host special services for its high ranked customers, while the rest of the floors in between are expected to be rented out for different purposes.
Several modern building technologies like air conditioning, public addressing, and fire and safety systems, have been installed on this building.
The building erected on 1800 square meter of land is installed with eight elevators accommodating 88 individuals in an escalator at a time.
The building having 107 meter height has become one of the iconic high-rise buildings in the capital.