Money Market Watch | Jul 27,2025
Addis Abeba will see a greenery project that extends from Basha Wolde Chilot to Orma Garage, close to Sheraton Addis Hotel, at a projected cost of 2.5 billion Br. Financed by the city administration, the project was awarded to Varnero Construction, a local company that has constructed many landmarks in the capital. The project is expected to be finalised in a year.
It was the city's Deputy Mayor, Takele Umma, who launched such an ambitious project but intended as a pilot scheme that is part of a larger 29 billion Br project initiated by the Prime Minister.
It will extend along Bantyaketu River, includes refurbishing the riversides, landscaping the area and building recreational centres along the riverbanks.
The whole project, which is planned to be completed in three years, targets the revitalisation of two rivers running from Entoto to Aqaqi Water Treatment Plant for a total of 51.3Km.
The inauguration was supposed to be launched by Prime Minister Abiy Ahmed (PhD), but he cancelled due to a busy schedule. It was the city's Deputy Mayor, Takele Umma, who launched such an ambitious project but intended as a pilot scheme that is part of a larger 29 billion Br project initiated by the Prime Minister. The whole project, which is planned to be completed in three years, targets the revitalisation of two rivers running from Entoto to Aqaqi Water Treatment Plant for a total of 51.3Km.
Two months ago, the city administration launched the 50 billion Br La Gare Eagle Hills Project, which is going to be built by the Abu Dhabi-based private real estate company, Eagle Hills, in a joint venture with the city administration. The project plan, resting on 36ha of land, encompasses three hotels, 4,000 apartments, a mall and entertainment centres.
PUBLISHED ON
Feb 22,2019 [ VOL
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982]
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