Bank of Abyssinia (BoA) signed a contract with China State Construction and Engineering Corporation (CSCEC) for the construction of its new headquarters.
The agreement was signed on Thursday at Hyatt Regency Hotel.
BoA future headquarters buildings project is like a vertical city that fully meets the demands of all functions and gives visitors an extraordinary experience, the Bank said.
Construction of the HQs is expected to cost 12 billion Birr.
The tower building will be standing the tallest building in East Africa with a length of 270 meters sprawling over 9700 meter square of land near Mexico Square, an area commonly known as “The Financial District”.
The total built-up area of the BoA headquarter complex is 174 thousand meter square. The main tower comprises a total of 60 floors—56 floors above ground and four floors underground. The underground functions mainly include a mechanical parking area, vault and equipment rooms, and vehicle lobby area. The sky garden is at the top of the tower building.
BoA owns a total asset of $2.7 billion and an average yearly profit of $100 million. It has more than 700 branches across the country and avails 24/7 services through digital channels and Self-Service branches.