Construction Standstill at Piassa to be Lifted in 15 Days

The new building will rest at the heart of the oldest centre of Addis Abeba, Piazza.

After a delay of 12 years, Huda Real Estate Plc is finally to begin construction of the highrise building in central Piassa before the end of this month (within two weeks).

The construction permit was given to the company on Tuesday, January 12, 2010, following hours of long discussion between Mohammed Ali Al-Amoudi, Mayor Kuma Demeksa and Mekuria Haile, city general manager, the previous day, Haile Assegdie, one of the top officials in the family of companies owned by Ali Al-Amoudi, told Fortune.

Haile, who was part of the discussion, is director general of Derba MIDROC Cement Factory and the Saudi Star Agricultural Development Plc.

“The problem has been solved; we will go into construction in 15 days,” Haile said.

Ali Al-Amoudi has given instructions for the establishment of a project office to oversee the construction of the building.

Huda leased the 36,000sqm plot in 1998 from the city administration which was then under Mayor Ali Abdo. The lease payment was made immediately. The estimated budget at the time was 400 million Br for twin towers of 39 and 48 storeys. That building design has now been altered. The new design consists of one 25 storey building along with a sprawling shopping centre to cover the vast grounds.

The city administration requires that construction begin within 18 months of leasing land. However, it recently took responsibility for the long delay of the planned beginning of the construction of these buildings. Having failed to remove underground cables and pipes in time gave the company valid reasons for the 12 year delay in construction, according to the city.

By WUDINEH ZENEBE

Source: AddisFortune