Commercial Bank of Ethiopia Headquarters

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Commercial Bank of Ethiopia Headquarters
CBE Headquarters.jpg
The incomplete skyscraper in January 2020. It is now completed.
General information
StatusComplete
Town or cityAddis Ababa, Ethiopia
Coordinates9°01′00″N 38°45′16″E / 9.0165513°N 38.7543284°E / 9.0165513; 38.7543284Coordinates: 9°01′00″N 38°45′16″E / 9.0165513°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 count42
Floor area150,000 sq m
Design and construction
Architecture firmHenn GmbH
Main contractorChina State Construction Engineering Corporation

The Commercial Bank of Ethiopia Headquarters is a skyscraper in Addis Ababa, Ethiopia. After the structure's completion,[when?] it became the tallest building in Ethiopia. It serves as the headquarters of the state-owned Commercial Bank of Ethiopia, the country's largest bank.[1][2][3]

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]

Skyline of Addis Ababa, Ethiopia, showing the city's numerous buildings and skyscrapers, including the Commercial Bank of Ethiopia Headquarters at the top-right.
The CBE headquarters skyscraper (tallest building) visible in the top-right corner of the city's skyline.

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. ^ a b c Barnes, Robert (6 May 2015). "Ethiopia: CSCEC to build a new headquarters for CBE". Construction Review Online. Retrieved 26 September 2018.
  2. ^ a b 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. ^ a b c Tegegne, Elias (9 November 2019). "City Administration to Allocate Land to Banks Without Bid". Addis Fortune. Retrieved 2 October 2020.
  4. ^ a b c d e f g h Kassa, Lucy (29 June 2015). "CBE Lays Cornerstone of Impressive New Headquarters". Addis Fortune. Retrieved 2 October 2020.
  5. ^ a b 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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