A local event organiser has placed a record high offer to host the upcoming New Year Bazaar and Expo at the city's oldest exhibition venue.

Eyoha Addis Entertainment & Event Plc offered 32 million Br to rent the venue from the Addis Abeba Exhibition & Marketing Development Centre for 23 days. The financial opening of the re-tendered bid was held on April 17, 2019.

During the financial opening, Eyoha vied with six other event organisers and promotion companies, including Habesha Weekly and Century General Trading.

Habesha Weekly, a local event organiser and promotion company responsible for this year’s Easter Expo, placed the second highest offer of 28 million Br. The veteran holiday expo organiser, Century General Trading, offered the third highest price of 25 million Br. The lowest bidder, Demere Coordinate Works, made a 21.5 million Br offer, which is even higher than last year's highest bidding price for the New Year expo.

The initial tender for the New Year Expo was floated on March 18, 2019, and the financial offers of the five bidders were opened on April 5, 2019.

However, the bid was cancelled as the companies didn’t fulfill the criteria, according to Tamirat Ademasu, general manager of the Centre, which is owned by the Addis Abeba City Administration and administered by the Addis Abeba Chamber of Commerce & Sectoral Association.

During the financial opening of the cancelled bid, the management of the Centre added a new requirement that compels winners to pay the full value before the exhibition concludes. Previously, the winning company made full payment after the exhibition closed. If the full payment is not made in the stated time, the event organiser could not take part in another tender, according to the new requirement.

"The new requirements weren't included in the bidding document," said Samson Shiferaw, public relations head of Habesha Weekly. "We were informed about it during the financial opening, and when we complained about that, the bid was cancelled."

Founded in 1983, the centre rests on a 27,000Sqm area that incorporates four pavilions of different sizes. The first hall can accommodate 90 minimum-sized booths. The second and third pavilion can hold 48 exhibitors each. The fourth one is outsourced for gymnasium services.

The open space inside the premises of the Centre can hold up to 140 booths. There are an additional four cottages and one traditional restaurant inside.