The project executed by Tsehay Real Estate, which is co- invested by the China’s CGC Overseas Construction Group (CGCOC) and Chinese investor Qian Xiao, includes public and residential buildings in function layout. The 1.5-Billion-U.S.-dollar project covers an area of 200,000 square kilometers, and is expected to finish in 2017.
The public building comprises high standard hotel, international A grade standard office, supermarket, banks shopping center and pedestrian commercial street.
Cutting the ribbon during opening ceremony, President Mulatu Teshome noted that the project enables to provide modern and efficient services to all its urban dwellers and the international community at large.
“This project, which is being undertaken and labelled as Poli Lotus International Center, is one of the most successful urban developments to bring efficient building construction technology and knowhow, thereby facilitating the smooth transfer of construction technology to Ethiopia,” said the president.
“The size and quality of this investment, made by Chinese company, reflects the long-standing excellent bilateral relations between Ethiopia and China,” he added.
Chinese Ambassador to Ethiopia, Xie Xiaoyan, said at the ceremony that the project is a new concept that would bring new life to the city.
“The project will bring new concept, new experience to people’s lives in the city because you can do everything here; you can go shopping, you can eat in restaurant, you can live in apartment comfortably,” said the ambassador.
Speaking on the occasion, Sun Guoqiang, deputy manager of CGCOC, said “through the introduction of advanced technology, products service and capital as well from China we are dedicated to improving the living standard of the local people and promoting the economic development of Ethiopia”.
He said his company would continue to contribute share to the comprehensive development of Ethiopia.