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Old September 7th, 2010, 05:34 PM   #1
abesha
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ADDIS ABABA (CBD) | NIB Bank HQ | 35 F | Land clearance

NIB moves to “financial heart” of Addis

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Nib International Bank S.C. (NIB) is about to construct their headquarters in the heart of Addis Ababa, close to the National Bank of Ethiopia (NBE). It thereby joins other financial institutions in what seems to become Ethiopia’s financial centre.

NIB, one of the oldest private banks after the country embarked free market for the last 19 years, has secured 2,800 square meter of land just behind the National Theater, in front of the new headquarters of Awash International Bank and Awash Insurance Company. The twin towers that are being constructed by the two financial sister firms, Awash Bank and Insurance that is, will be one of the largest buildings of the capital city and are currently in their final stage.

Solomon Assefa, head of the NIB Business Development Department, told Capital that the city has given the plot for a lease period of fifty years.

Houses on the location, including residences and shops, are being demolished to prepare the plot for construction. The department head said “We expect the construction work to commence in the current fiscal year and finalize the project within a short period of time.”

According to Solomon, the management team of NIB is selecting a preferable design for their future headquarters. It also prepares all things necessary to finalize the project within the company’s set time schedule. The bank currently rents the ground part of Dembel Shopping Centre in Bole as its main office.

Most banks and insurance companies that have been established in the nineties have started constructing their own buildings now. Their head offices are mainly concentrated within a few kilometers from the NBE, thereby seemingly creating the financial heart of Addis Ababa.

There is no enforcement from the central bank to do so, though. Recently, one of the youngest banks, Oromia International Bank, has bought a 3,000 square meters compound in Goma Kuteba at a cost of 18 million birr for their future headquarters.
There are several buildings u/c in that area right now, but I didn't take pics when I was there. It's definitely going to be the CBD in a few years time.

I guess we'll be getting the final render within the next few weeks. Let's hope it's nice and tall!

Anyone know where Goma Kuteba is? I've never even heard of it before.
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Old September 7th, 2010, 05:46 PM   #2
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I really like this. The national theater triangle is really becoming the CBD.

And no, no idea where Goma Kuteba is. The city's growing so fast that they're many districts no ones heard of. Like this one place called Rossum where that country club development is.

EDIT: Not Rossum, Roppack. The place is called Roppack. Don't say anything.

P.S.: Post #1000! Give praise to aforementioned Rossum!
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Last edited by Simfan34; September 7th, 2010 at 05:56 PM.
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Old September 7th, 2010, 05:49 PM   #3
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Rossum

There are so many new neighborhoods it's just confusing now. I was there for about 3 weeks last month (July/August) and the expansion is bewildering.
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Old September 7th, 2010, 05:54 PM   #4
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Quote:
Originally Posted by abesha View Post
Rossum

There are so many new neighborhoods it's just confusing now. I was there for about 3 weeks last month (July/August) and the expansion is bewildering.
It's beginning to get to me!

But yeah, when I went in 06' the easternmost area was still Kotebe! Anyways, I really like the progression of projects. It's like one a week now.

Now, when will we get to the other cities sans Mekelle (it's already starting there, and I think we all know why)? Has that project in Dessie started, the 10-story center?
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Old September 7th, 2010, 05:59 PM   #5
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I Think goma kuteba is the old area where the old addis tyre factory was situated.
Its at the end of the same street nbe is situated.
The biggest addis microwave (tele)mast is near the area.the new fana radio ha is also nearby
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Old September 7th, 2010, 06:01 PM   #6
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Originally Posted by Vildana View Post
I Think goma kuteba is the old area whereas the old addis tyre factory was situated.
Its at the end of the same street nbe is situated.
The biggest addis microwave (tele)mast is near the area.the new fana radio ha is also nearby
So not far at all then. I don't know why, but I thought it was really far out.

I hope they have a decent sized building though.
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Old February 7th, 2011, 01:21 AM   #7
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Quote:
#2
Simfan34
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Join Date: Oct 2009
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Posts: 4,080 I really like this. The national theater triangle is really becoming the CBD.

And no, no idea where Goma Kuteba is. The city's growing so fast that they're many districts no ones heard of. Like this one place called Rossum where that country club development is.
,

Simfan,

Ropack (near Country Club) was named after the first real estate venture that took place in the area (e.g. Ropack Real Estate....). I thoink 'Country Club' would have been a better name but they were a late commer.

By the way, 'Ropack' is just a vernarcular name. The real name of the place is 'Legetaffo'.

I have no clue where 'Goma Kuteba' is but I imagine there are alot of Gomas and subGomas there.
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Old February 7th, 2011, 06:51 PM   #8
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Quote:
Originally Posted by Skyliner123 View Post
,

Simfan,

Ropack (near Country Club) was named after the first real estate venture that took place in the area (e.g. Ropack Real Estate....). I thoink 'Country Club' would have been a better name but they were a late commer.

By the way, 'Ropack' is just a vernarcular name. The real name of the place is 'Legetaffo'.

I have no clue where 'Goma Kuteba' is but I imagine there are alot of Gomas and subGomas there.
Oh, so Roppack is in Lege Tafo? I know where that is. And I'd prefer Roppack as the name, rather than the bland "Country Club".
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Old February 8th, 2011, 10:59 AM   #9
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Quote:
Originally Posted by Skyliner123 View Post
,

Simfan,

Ropack (near Country Club) was named after the first real estate venture that took place in the area (e.g. Ropack Real Estate....). I thoink 'Country Club' would have been a better name but they were a late commer.

By the way, 'Ropack' is just a vernarcular name. The real name of the place is 'Legetaffo'.

I have no clue where 'Goma Kuteba' is but I imagine there are alot of Gomas and subGomas there.
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Originally Posted by Simfan34 View Post
Oh, so Roppack is in Lege Tafo? I know where that is. And I'd prefer Roppack as the name, rather than the bland "Country Club".
Lol oh boy, y'all are just butchering the name.
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Old August 17th, 2011, 12:37 AM   #10
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update: design selected, 21 to 33 floors

NIB to build new HQ

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The two sister financial firms, Nib International Bank (NIB) and Nib Insurance Company, are seeking more land plots from the Addis Ababa City Administration to manage their future headquarters from, it is planned to be erected just behind the National Theatre, in front of the new headquarters of Awash International Bank and Awash Insurance Company. NIB has registered 247 million birr net profit in the past budget year which is believed to have helped motivate such a decision.

The two sister firms who finalised their designs through an architectural design competition, which concluded on Thursday August 11, for their joint headquarter construction to be erected on 2800 square meters of land secured from the city administration a year ago. Amerga Kassa, president of NIB, said that the two institutions are asking the city to secure an additional 700 square meters of land that is to be located in front of the plot that has already been transferred to the two financial firms.

“We have already delivered our request for the city and expected to get positive response from the lease board,” Amerga told Capital. The 700 square meter land plot is currently owned by small shop owners, while it is in front of the main road. Amerga said that the plot is currently unsuitable for the future headquarter of the two Nibs’.

The headquarter construction that is estimated to cost 400 million birr will commence within a few months after the selection of a contractor on bid, according to NIB president. According to the project plan, the joint headquarters will be erected within the range of 21 to 33 storeys, which will make it one of the tallest buildings in the city.

Most banks and insurance companies that were established in the nineties have started constructing their own buildings now. Their head offices are situated within a two kilometre radius of the National Bank of Ethiopia, the central bank of the country, thereby seemingly creating the financial heart of Addis Ababa. There is no enforcement from the central bank to do so, though.

continued here at Capital
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Old August 17th, 2011, 05:39 AM   #11
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Quote:
Originally Posted by abesha View Post
Rossum

There are so many new neighborhoods it's just confusing now. I was there for about 3 weeks last month (July/August) and the expansion is bewildering.
Abesha,

You were there recently and you haven't even shared any pics,.......?
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Old August 17th, 2011, 10:54 AM   #12
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Quote:
Originally Posted by Skyliner123 View Post
Abesha,

You were there recently and you haven't even shared any pics,.......?
Good point!
Sneaking back into Addis without telling us. Aye YeSew Neger! Probably lost/sold her camera while she was there.....anyways, she has a lot to explain!
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Old August 17th, 2011, 11:28 AM   #13
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Her post is from 2010..
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Old August 17th, 2011, 03:05 PM   #14
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Yeah this is an old thread guys. I was there very briefly last year!
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Old September 24th, 2012, 07:24 PM   #15
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Still Nib is on the planning stage
Addisfortune.com

Quote:
Published On September 16, 2012

Web www.addisfortune.com



Financial Duo to Launch HQs Construction on Ras Abebe Road

Edifice projected to cost Nib Bank, Nib Insurance over half a billion Birr




Senior managers at Nib International Bank (NIB) and Nib Insurance (NI) share companies, private sister financial institutions, will see a soil test launched in the coming few days, at a construction site that is to erect their joint headquarters.

To be constructed on a little over 3,000sqm plot leased on Ras Abebe Aregay Road, near the National Theater en route the Wabi Shebelle Hotel, the headquarters is designed to have over 33-storey, of which four will be in the basement, according to Tafesse Bogale, chairman and the board of director of NIB. The structure will have a foundation over 30 meters in the ground, much deeper than the 27-meter the headquarters of Awash Bank and Awash Insurance have jointly erected across the street, which has 18-storey.

NIB and NI have acquired a 2,400Sqm of land from the Addis Abeba City Administrations two years ago, and later on added a 700Sqm plot, adjacent to the project site, after city authorities cleared off small shops.


When completed, Nib’s headquarters will be one addition to the Sengatera area which houses financial institutions, in a way observers dubbed as Addis Abeba’s “Wall Street”. The state owned giant, Commercial Bank of Ethiopia (CBE) will have erected its headquarters few meters away from this location, while the biggest private bank, Dashen, has its own near completion on Sudan Street, also nearby Nib’s location, and few meters farther from the National Bank of Ethiopia (NBE).

Another private bank, United, also has plans to erect its headquarters in this area. Close to 15 architectural firms have entered into contest to win prizes in developing the design for United Bank; close to seven have been shortlisted by a jury, sources in the bank disclosed to Fortune. Wegagen Bank too has a plot in this area, where its board of directors would like to see the bank’s headquarters eventually get erected.

Nib has had similar design contests opened a little over a year ago, where Assefa Consulting Architects & Engineers’ was selected by a jury. However, founder and general manager of the firm, Assefa Gebeyehu, was detained subsequently, before criminally indicted as an accomplice to Yaregal Ayeshesum, former president of Benshangul Gumuz Regional State. Assefa is one of the five defendants still fighting criminal charges for allegedly tampering with a bid process for the construction of three educational institutions, which federal prosecutors claim resulted in construction delay.

The management of Nib companies later on selected Haile Gabriel Consult, Architects & Engineers for the project. Senior managers from Nib and the architecture firm have declined to give details on the development of the project, claiming it is too early to make a public statement.

Nonetheless, the project may cost close to 600 million Br when it gets completed in three years, according to people involved in the project. For a financial twin that has nearly one billion Birr in combined paid-up capital (as in 2011/12), this will be their major capital investment since the bank was established in 1999 and the insurance firm in 2002.

Operating with 57 branches, the latest being opened in Gurd Shola area, NIB has registered a gross profit of 389.8 million Br for the year 2011/12. NI has 21 branches across the country.

By BEZAWIT BEKELE
FORTUNE STAFF WRITER


http://addisfortune.net/Financial%20...ebe%20Road.htm
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Old March 5th, 2013, 06:00 AM   #16
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Look what I found!





http://soluis.qunabu.com/projects/ae...nk-tower-night
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Old March 5th, 2013, 07:16 AM   #17
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Nice exterior...for a parking garage :/
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Old August 27th, 2013, 10:33 PM   #18
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Nib Signs Billion Birr Tender With Chinese Company For Construction of New Headquarters
Additional construction projects are planned in Addis Abeba, Dire Dawa and Hawassa


From Left: Kibru Fondja, president of NIB, Zhao Sanbao, assistant manager of China Railway No.3 Engineering Group Co.LTD, and Hailemariam Assefa, chief executive officer of the NIC congratulating one another after signing the agreement.


The Nib International Bank S.C (NIB) and Nib Insurance Corporation S.C (NIC) hired the China Railway No. 3 Engineering Group Co. Ltd for the construction of their 35-storey headquarters, in an agreement signed on Thursday, August 22, 2013.

The design was completed two years ago, when the companies had only 2,800sqm of land. Since then it has added an extra 882sqm plot and made changes to the original design. The construction will take place on this larger plot in front of Awash International Bank’s twin buildings on Ras Abebe Aregay Street, in the area designated as the rising financial district of the city.

The Chinese company was selected out of four that had responded to Nib’s tender, announced on January 26, 2013. The agreement was signed by Kibru Fondja, Nib Bank’s president, Hailemariam Assefa, chief executive officer of the NIC, and Zhao Sanbao, the Ethiopian branch assistant manager of the Chinese company.

Both parties declined to disclose the total estimated cost of the project, stating that it is too early to tell. Yet, the construction of the building will cost an estimated one billion Birr, according to Tagel Nigatu, a project engineer at the Bank.

The construction project, which will reportedly be completed within three to four years, is expected to accommodate customer facilities, such as a four-level underground car park.

The companies plan to construct additional buildings in Bole, in Addis Abeba, Hawassa in the Southern Regional, State and Dire Dawa, in the east of the country, according to an official at the Bank.

Established in May 2, 2002, by 818 shareholders, with a paid-up capital of 30 million Br, the NIC has now reached 100 million Br in capital. Its sister company, NIB, established in May 26, 1999, by 717 shareholders, with a paid-up capital of 27.6 million Br has now reached one billion Birr.

The bank has opened 70 branches across the country, whereas the insurance company has 22 branches nationwide.

Other tall buildings are planned in the emerging financial district of the city, including the 52-storey headquarters of the Commercial Bank of Ethiopia (CBE), and the 40-storey headquarters of the Ethiopian Insurance Corporation.

Construction will begin in two months.
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Old August 27th, 2013, 10:58 PM   #19
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Hopefully it will be redesigned by a competent Chinese architect. The height increase and the under ground parking are both good to hear.
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Old August 29th, 2013, 03:07 PM   #20
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http://http://www.2merkato.com/20130...of-hq-building

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Ethiopia's Nib Bank, together with its sister company, Nib Insurance has awarded China Railway Engineering Group for construction of a 35 storey headquarters building.
China Railway Engineering Group is already involved in several projects in Ethiopia, prominently the Ethio-Djibouti railway construction project.

The agreement was signed on Thursday 22 August 2013 at Saro Maria Hotel. Nib Bank president Kebru Fonja and Hailemariam Assefa, CEO of NIB Insurance sigend the agreement with Zaho Sanbao, Country Representative of China Railway Engineering Group.

The site of building is 3840 square meter parcel in the city's financial district. The construction of the building is expected to be completed within 3 to 4 years time.

Source: The Reporter
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