Page 13 - Abyssinia Business Network ABN August 2019

the architectural wonder in Dubai, consists of 23 floorssituated around Addis Ababa
Palm Jumeirah Island. Besides,it Stadium.
has built its reputation after
executing the AU Headquarters United Bank Share Companyon its part signed
here in the capitalas per its two a headquarters construction agreement with
years deadline. China Jiangsu International Economic-Technical
Cooperation Corp (CJIETCC) on May 2015 to
The Bank has now its Head Office erect a 119m high 30-storey headquarters having
function which is spread out in four basements. Currently, the Bank has fully
several other buildings it owns completed the skeleton frame of its Headquarters
and rented in Addis Ababa. So and it is also becoming one of the eye-catching
the objective of the construction buildings of the metropolis.
of this new head office building is
to house all head office functions Zemen Bank, on the other hand, is undertaking
under one roof. the construction of headquarters building
(3B+G+32) on the same street and it is expected
Apart from the aforementioned to be completed as early as 2020 (Annual Report,
purposes, the giant complex 2018).
would serve to further enhance
the profitability and fortify the The other private bank, Nib International
asset base of the bank; add beauty Bank S.C also hired the China Railway No. 3
to the metropolis; enhance public Engineering Group Co. Ltd for the construction
trust and confidence as well of its 35-storey headquarters. Currently, the
as technology transfer and job finishing work of the edifice is being speeded up.
creation, among others. On the other hand, some private commercial banks
like Bank of Abyssinia and OromiaInternational
Similarly, other private Bankpurchased their own headquarters building.
commercial banks havealso However, the cost of finishing work or reshaping
made attempts to erect their a building as per ones taste could also be equated
headquarters in this area which is with constructing a new building.
growing as Wall Street of Addis
as well as in its surrounding. All in all, days won’t be long that we witness our
For instance, we will find the own Wall Street likethe one in the New York City
G+18 twin towers of the pioneer which is an eight-block-long street, and that plays
AwashBank in which one wing pivotal role inthe financial market of the U.S.
houses departments underthe
bank; while the other one
comprises departments under the
insurance wing.

Dashenand Wegagen
Bankalso followed suit to
erect and finalizetheir own
headquarters in this area.
Accordingly, Dashen Bank
erected a 21-storeyheadquarters
with an outlay of one billion
Birr. Similarly, Wegagen
Bankfinalized the execution of
its 107 meters edifice which Source: www.china.org.cn
Abyssinia Business Nework ነሃሴ 2011 / August 2019 11