^^Adama Set for Market Centre Construction
Gimb Gebeya SC signed an agreement worth 70 million Br with Jibriel Geresu Construction for the first phase of the town’s first market centre, in Adama Ras Hotel on Wednesday, November 10, 2010.
A month ago, Jibriel Geresu was announced the winner of the bid for the construction in which five bidders participated.
The construction of the first phase, ground plus one, of the designed ground plus three structure, is to start on Monday, November 15, 2010, and is expected to be finished within 24 months, according to Solomon Kefyale, president of Gimb Gebeya.
The market centre was designed by ETG Designers and Consultants Plc for 980,000 Br. The four buildings, each of four storeys high with basement parking for 100 cars, will comprise 7,472sqm. ETG also won the contract to supervise and administer the building for 49,450 Br.
Established in 1999 by 50 members in Adama (Nazareth) Town, Oromia Regional State, Gimb Gebeya SC now has 712 members. The founding members had previously been engaged in different trading businesses in the area popularly known as Hamus or Gimb Gebeya. However, the plot on which the company was initially located was transferred to a developer. This created a dispute between the members, who had wanted to develop it themselves, and the town administration.
As compensation, the company was allotted a 12,570sqm plot in January 2007, at a reduced lease price of 13 Br per square metre. Gimb Gebeya took over the land, located in Kebele 06, in the area around the town marketplace.
The company has constructed a five-room residential unit at a cost of two million Birr for each of the 36 families displaced from the site where they were living in kebele houses, Solomon told Fortune. It has also paid 369,000 Br as compensation to land owners who have received new plots from the administration for free, he added.
However, six houses remain on the plot after the inhabitants refused to leave despite offers of compensation and relocation and being ordered to move by the town administration at the urging of Gimb Gebeya, according to president of the company.
“The construction work will start as soon as they are relocated,” Solomon told Fortune. “The sooner we start, the more likely it is that we will finish ahead of schedule. We are also losing a lot of money on the rent we pay for the offices we use.”
This urgency is also felt by Jibriel Geresu Construction.
“Although the timeframe for the construction is 24 months, our aim is to finish it in much less than that time,” Jibriel Geresu, owner of the construction company which did the expansion work of Adama University, told Fortune.