ROCKSTONE Ethiopia has committed one Billion birr to build KEFITA, an exclusive apartment building with hotel-like amenities, off the road in the Signal district of Addis Ababa for scheduled completion in mid-2023.
The Premier German real estate developer, ROCKSTONE Real Estate, and local partner, BIGAR Builders and developers awarded the construction contract to HuaHong construction PLC to build a G+20-storey apartment building.
The design and architecture of the project is led by an award-winning European architect, with guidance and consulting provided by local advisors.
According to the CEO and founder of ROCKSTONE Real Estate, Dietrich E. Rogge, the company looks forward to sharing its international building expertise and unique approach with local talents. As KEFITA stands for the future of Addis Ababa, the first investment is beginning of a long and fruitful partnership between ROCKSTONE and the people of Ethiopia.
“KEFITA combines international design and building standards, quality amenities and parking, all of which is professionally managed and will be run with German precision, delivering hotel-like services. The project is the first Ethiopian residential building in the process of obtaining the green building certification, EDGE.”
BenjiamVetterli, Head of ROCKSTONE Ethiopia, added “ROCKSTONE is here for the long run; we have therefore setup a unique organization structure revolving around internationally and multi-disciplinarily to overcome best local challenges such as material supply and foreign-currency shortages. Furthermore, we work closely with local and international partners and are backed by foreign investors, which strengthens our confidence about the successful outcome of the project and that the building will inspire similar projects in the future and change the face of Addis Ababa.”
KEFETA is on track to be completed in mid-2023 and will deliver one hundred apartments, designed specifically to suit Addis Ababa’s unique microclimate, with a building façade inspired by Ethiopian fabrics and all aspects of design meticulously detailed to serve the needs of discerning international and local residents.
ROCKSTONE Real Estate is a German based full-service real estate developer and investment manager, with offices in Germany, Spain and Portugal as well as Ethiopia. It has carefully chosen Ethiopia as its first office in Africa. Its focus is on high end residential and commercial real estate projects with a typical project size of 25-75 million dollars, in prime CBD or residential locations, providing professional services, modern designs and sustainable construction qualities. Currently developing projects worth 500 million dollar ROCKSTONE combines real estate know-how with its own principal capital and active real estate management.
BIGAR builders and developers on the other hand was formed by four partners in 2012 in Addis Ababa, Ethiopia, with a cumulative experience over 40 years practicing in fields of architecture, engineering, urban design and project management.