The Coffee Plaza building is located in Casanchis, Kirkos Sub-City, Woreda 8, at the intersection of two main avenues of Jomo Kenyatta ( formerly known as Asmara road) to the south and Guinea Conakry to the east, next to ENAT Bank Headquarter.
Coffee Plaza Building forms part of the Economic Commission for Africa (ECA) block, a highly coveted residential and business district in the center of Addis Ababa.
The developer of the real estate is Hailu Gebre Hiwot, a graduate of UC Berkeley (MA Econ.), owner of a coffee exporting firm Haicof Limited Plc., and sometimes dubbed as “Aba Bunna” or the “father of coffee”, in reference to his discovery of Yirgacheffe coffee in 1960.
He is also the founder and executive director of KIMSSA, a charity organization established in 1993 to help disadvantaged youth in providing educational support and vocational training. Hailu Gebre Hiwot and his three sons Eskinder, Asfaw and Yitbark have vested personal interests and unwavering commitment to execute the Coffee Plaza building project.
Before investing your hard earned money on this apartment you need to know ascertain that you are in hands of a reliable developer and that all the legal requirements are in place.
The labeling / naming of “Coffee Plaza Building” is reminiscent of the finding of Yirgacheffe Coffee, the top quality internationally acknowledged coffee brand by Hailu Gebre Hiwot. The name signifies the long and special attachment the family has to Coffee that is the pride of Ethiopia.
Besides its coveted location, Coffee Plaza possesses modern amenities and features worthy of luxury apartments, specifically:
For the prudent investor, location is decisive. The proximity of Coffee Plaza to the Economic Commission for Africa and other important international offices, banks, star hotels, private schools, shopping centers, churches and mosques will definitely enhance the rental desirability of the apartments. No wonder, the rental demand for modern apartments in the neighborhood has always been brisk and many times rents being designated in USD thus ensuring shorter investment payback period.
The other important feature of the Coffee Plaza apartments is the high resale value of the apartments at all times. As a result of the scarcity and ever gyrating cost of land, especially in the ECA area, building materials and labor, the value of luxury apartments in the neighborhood has registered very high capital gains. Therefore, buying in the Coffee Plaza apartments is a great hedge against inflation, a lucrative income generating asset as well as a superior inheritance property.
The apartments have two entrances: East side and West side. Both entrances have a lobby, emergency stairs and dedicated elevators for the residents. In total there are 4 elevators 3 dedicated to apartment residents and 1 for commercial users which also serves as a service elevator. The commercial area, consisting of the first four floors, has a main entrance and a back entrance for loading and unloading.
The basement parking space which accommodates 102 cars conforms and exceeds the standard for basement parking as prescribed by the Ethiopian codes. We have two driveways, each 6.3 meters wide, accessible from Jomo Kenyatta Avenue, the main road. The clearance of the basement parking is 3.30 meters high thus sparing one from claustrophobic feeling. In total, Coffee Plaza has 125 parking spaces.
The project has two wings, East and West, consisting of 2 basements + Ground floor: East rises to 14 floors while West has 16 floors. Construction of the structure of the East Wing is completed except 2 floors which are slated to be completed at the end of February 2021.
The foundation of the West wing has been excavated and construction will commence by March 2021. The contractor is Marshal Construction and the Consulting Architects and Engineers are Obon Voyage. Our construction equipment supplier and partner is Villalta Srl of Italy.
We have arranged attractive mortgage banking terms with Debub Global Bank for both diaspora and non-diaspora buyers.
For tailored information please contact us.
We offer for sale two and three bedroom apartments ranging in area from 158 – 220 square meters each at very competitive and attractive prices. Buyers with foreign exchange enjoy special discounts.
For availability and pricing, please contact us