Habesha Construction and Materials Development, Ethiopia has selected Rama Construction plc to construct the 10 storey shopping center it proposes to build at a cost of 233 million birr. Rama will handle only the structural aspects of the proposed project at an estimated cost of more than 123 million birr according to the agreement signed between the two companies yesterday.

Rama will be expected to complete the structural work in 18 months from the time of the agreement.

The center to be named the Tigat Shopping Center will be constructed on 2,100 meter squares of land to be found on Haile Gebreselassie Street. It will be a mixed-use building to host offices, shops and a ninety bedroom four star hotel.

The center is owned by the Tigat group of shareholders made up of shop owners in the proposed building site who elected to come together for this project to meet the building requirements of the area according to the city’s development agenda according to sources.

The company was established with an initial capital of 9.6 million birr said Yelebe Molla, Board Chairman of Tigat. Habesha Construction currently owns 40 percent of the company and is the majority shareholder.

The design of the proposed building was handled by Chinese company Shigez Consulting for a fee of 480,000 birr. The design includes two basements, a ground floor and a mezzanine, in addition to the 10 storeys.

Source: Fortune

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