Commercial Bank of Ethiopia Headquarters explained

Commercial Bank of Ethiopia Headquarters
Groundbreaking Date:October 2015
Location City:Addis Ababa, Ethiopia
Coordinates:9.0166°N 38.7543°W
Status:Completed
Topped Out Date:11 November 2018
Owner:Commercial Bank of Ethiopia
Floor Area:150,000 sq m
Architecture Firm:Henn GmbH
Main Contractor:China State Construction Engineering Corporation
Height:209 m
Floor Count:53
Cost:ETB 5.3 billion (US$303 million)

The Commercial Bank of Ethiopia Headquarters is a skyscraper in Addis Ababa, Ethiopia that was completed on 13 February 2022 and became the tallest building in Ethiopia. It serves as the headquarters of the state-owned Commercial Bank of Ethiopia, the country's largest bank. It also is the tallest building in all of East Africa.[1] [2] [3]

History

Construction commenced in 2015 under a deal with the China State Construction Engineering Corporation.[4] The foundation stone was laid on 27 June 2015.[5] The building was then topped out in the second half of 2019. Cladding work however has been delayed due to the foreign currency shortage in Ethiopia[6] that made it harder for local businesses to fund imports, thus, affected the bank's financial[7] as it still controlled most of the country's banking activities in 2020.[8]

The building was originally scheduled to be completed on 19 January 2019.[5] As of August 2018, construction of the building is scheduled to be completed in 2020.[2]

In February 2022, the building was officially inaugurated to coincide with the 80th anniversary of the Commercial Bank of Ethiopia.[9]

Site

The building site is an 18,000 meter plot on Ras Desta Damtew Road in Addis Ababa.[5]

Design

The building is 209 meters tall with 46 stories, two 5-story podiums, and 20-metre deep underground parking lots.[1] [5] The building design includes 46 above-ground floors, a mezzanine level, a ground floor, and 4 basement levels.[5] The building 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.[5]

It is the tallest building in Ethiopia and East Africa.[4] [5]

See also

Notes and References

  1. News: Barnes . Robert . Ethiopia: CSCEC to build a new headquarters for CBE . 26 September 2018 . Construction Review Online . 6 May 2015.
  2. News: Employed by China . . Jenni . Marsh . August 2018 . The Commercial Bank of Ethiopia will be the tallest building in Ethiopia when completed by China State Construction Engineering Corporation in 2020..
  3. Web site: Ethiopia's tallest buildings - Top 20 . https://web.archive.org/web/20150511225034/http://www.emporis.com/statistics/tallest-buildings/country/100011/ethiopia. dead. May 11, 2015.
  4. News: City Administration to Allocate Land to Banks Without Bid . . Elias . Tegegne . 9 November 2019 . 2 October 2020.
  5. News: CBE Lays Cornerstone of Impressive New Headquarters . . Lucy . Kassa . 29 June 2015 . 2 October 2020.
  6. News: CBE Tower: Inside Ethiopia’s tallest building in Addis Ababa . Construction Kenya . Miriam . Nkirote . 1 January 2021 . 25 January 2021.
  7. News: Hard Times for Hard Currency . . Muluken . Yewondwossen . 2 April 2018 . 25 January 2021.
  8. News: Ethiopia takes small steps towards bank liberalisation . . Andres . Schipani . 3 November 2020 . 25 January 2021.
  9. Web site: Account . 2022-02-13 . Ethiopia's tallest building Commercial Bank skyscraper inaugurated . 2022-10-01 . Borkena Ethiopian News . en-US.