1.Where is the “Coffee Plaza” luxury apartment building located?
The Coffee Plaza building is located in Casanchis, Kirkos Sub-City, Woreda 8, at the intersection of two main avenues of Jomo Kenyatta to the south and Guinea Conakry to the east, in front of Yordanos Hotel. The Coffee Plaza, a corner plot, forms part of the Economic Commission for Africa (ECA) project area, a highly coveted residential and business district in the center of Addis Ababa.<<Go to top
2.Who is the developer?
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, in 1960, of Yirgacheffe coffee. He is also the founder and executive manager 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 Yitbarkek have vested personal interests and unwavering commitment to execute Coffee Plaza project.<<Go to top
3.The legality of the project?
- The land on which the building is located is a free hold "NebarYizota property" with title deed No CKS17/25/2602/00
- HailuGebreHiwot Real Estate has been legally established in 2012 under Business license No 14/668/52016/2004. The Real Estate License is current and renewed for 2016.
- A current and valid building Permit Certificate has been granted from the City Government of Addis Ababa Construction Permit & Control Authority for the construction of Coffee Plaza building.
- The name "Coffee Plaza" has been registered at the Ethiopian Intellectual Property Office under Registration No. LTM/0465/06 and a property of Hailu Gebre Hiwot real estate.
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4. What does the name Coffee Plaza signify?
The labeling / naming of “Coffee Plaza Building” is reminiscent of the finding by Hailu Gebre Hiwot of Yirgacheffe, a top quality Ethiopian coffee, which has remained the specialty of the family’s coffee exporting firm of Haicof Limited. The name signifies the long and special attachment the family has to Coffee that is the pride of Ethiopia.<<Go to top
5. What are the unique advantages of Coffee Plaza luxury apartments?
- LOCATION ! LOCATION ! LOCATION !!!
- Corner property located inside the newly developed and highly demanded ECA Grid in Casainchis.
- Not your ordinary Real Estate developer. The real estate license is obtained primarily for a "single property development". All the finance, focus and attention are channeled to the success and completion of Coffee Plaza project.
- Train at your door step (Train stop is in front of Coffee Plaza Building)
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6. What will be the prospect of rental and resale value of Coffee Plaza apartments?
The unique features of Coffee Plaza and the proximity of the apartments to ECA and other important Government/private offices, banks and star hotels will definitely enhance the rental desirability of the apartments. The demand for luxurious apartments in the neighborhood currently is brisk and rents run quite high, so much so, the payback period of the investment is likely to be way shorter than average. When it comes to the resale value of the apartments – one has to consider the doubling in capital gains of other apartments situated in less desirable locations - one can presume that the Coffee Plaza apartments will command a hefty resale price before or after the completion of the project. Therefore, buying in these luxury apartments is a great hedge against inflation, a lucrative income generating asset as well as a superior inheritance property. <<Go to top
7. How wide is the driveway? How high is the clearance of the parking basement
The design of the parking space conforms to the highest standard for basement parking as prescribed by Ethiopian and EU building codes. We have two driveways, both 6 meters wide, accessible from the main road to alleviate congestion while the clearance of the parking basement is 3.30 meters high thus sparing one from claustrophobic feeling. <<Go to top
8. Is construction underway? Who is the building Contractor and Consultant?
Construction is currently underway by AsEph Engineering Plc, a Grade One Building Contractor under the supervision of Obon Voyage Consulting Architects and Engineers, a Grade One Consulting firm overlooking the project. <<Go to top
9. How can an apartment buyer follow the progress of the Coffee Plaza Building construction and the status of his/her apartment?
The developers welcome apartment buyers to follow up the progress of the building by visiting the site at allocated times of the construction schedule. We will also provide updated information on construction progress by posting images and reports on our website. <<Go to top
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