Commercial Bank of Ethiopia Headquarters

The Commercial Bank of Ethiopia Headquarters is a skyscraper currently under construction in Addis Ababa, Ethiopia. Upon completion it will be the tallest building in Ethiopia. It will serve as the headquarters of the state-owned Commercial Bank of Ethiopia, the country's largest bank.[1][2][3]

Commercial Bank of Ethiopia Headquarters
The incomplete skyscraper in January 2020
General information
StatusTopped-out
Town or cityAddis Ababa, Ethiopia
Coordinates9.0165513°N 38.7543284°E / 9.0165513; 38.7543284
GroundbreakingOctober 2015
Topped-out11 November 2018
CostETB 5.3 billion (US$266.5 million)
OwnerCommercial Bank of Ethiopia
Height198 m
Technical details
Floor count46
Floor area150,000 sq m
Design and construction
Main contractorChina State Construction Engineering Corporation

History

Construction commenced in 2015 under a 5,300,000,000 Ethiopian birr deal with the China State Construction Engineering Corporation.[3][4] The foundation stone was laid on 27 June 2015.[4] The building was then topped out in the second half of 2019.[5] Cladding work however has been delayed due to the foreign currency shortage in Ethiopia[5] that made it harder for local businesses to fund imports, thus, affected the bank's financial[6] as it still controlled most of the country's banking activities in 2020.[7]

The building was originally scheduled to be completed on 19 January 2019.[4] As of August 2018, construction of the building is scheduled to be completed in 2020.[2]

Site

The building site is an 18,000 meter plot on Ras Desta Damtew Road in Addis Ababa.[4]

Design

The building will be 198 meters tall with 52 stories, two 5-story podiums, and 20-metre deep underground parking lots.[1][4] The building design includes 46 above-ground floors, a mezzanine level, a ground floor, and 4 basement levels.[4] The building will have 150,000 square meters of floor area.[1]

Its design includes eight conference halls, an emergency waiting room for disasters, two restaurants on the top two floors, and a sightseeing tower.[4]

It will be the tallest building in Ethiopia upon completion.[3][4]

See also

References

  1. Barnes, Robert (6 May 2015). "Ethiopia: CSCEC to build a new headquarters for CBE". Construction Review Online. Retrieved 26 September 2018.
  2. Marsh, Jenni (August 2018). "Employed by China". CNN. The Commercial Bank of Ethiopia will be the tallest building in Ethiopia when completed by China State Construction Engineering Corporation in 2020.
  3. Tegegne, Elias (9 November 2019). "City Administration to Allocate Land to Banks Without Bid". Addis Fortune. Retrieved 2 October 2020.
  4. Kassa, Lucy (29 June 2015). "CBE Lays Cornerstone of Impressive New Headquarters". Addis Fortune. Retrieved 2 October 2020.
  5. Nkirote, Miriam (1 January 2021). "CBE Tower: Inside Ethiopia's tallest building in Addis Ababa". Construction Kenya. Retrieved 25 January 2021.
  6. Yewondwossen, Muluken (2 April 2018). "Hard Times for Hard Currency". Capital. Retrieved 25 January 2021.
  7. Schipani, Andres (3 November 2020). "Ethiopia takes small steps towards bank liberalisation". Financial Times. Retrieved 25 January 2021.
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