Purpose Black claims that it has won the bid to purchase the main office building of BGI Ethiopia in order to construct ‘Farmer’s Tower’. According to the firm, an advance payment of 1 billion birr was made.
Purpose Black Ethiopia announced that it won the BGI Ethiopia head office building in a competition to develop the “Farmer Tower Share Holder Model Building” in Mexico, in the heart of Addis Abeba. In a press conference held yesterday at the Skylight Hotel, it declared that a 1 billion Birr advance payment had been paid.
Purpose Black’s 115-story Tower includes residential, commercial, and entertainment projects. The “Tower Share Holder Model” stock system, which comprises 6 buildings for diverse services, was formally opened in December.
According to Purpose Black ETH CEO Dr. Fisha Eshetu, since the company revealed the project, the Keguri Tower will be built either in Mexico, Leghar or Hot Springs.
Finally, the CEO announced that when BGI Ethiopia’s headquarters were relocated to Sebeta, the institution’s premises in central Mexico had been put up for sale. Black used this opportunity to win the auction prize.
In order to acquire the BGI Ethiopia headquarters, which the company won in a competition to create the skyscraper Kegerew Tower and the buildings to be erected under the Tower Share Holder Model project, he said that 1 billion birr had been paid in advance.
He continued, stating that Purpose Black and BGI Ethiopia have a contract requiring payment to be provided in three installments, including the advance, and that the remaining payments will be made later.
The BGI headquarters building will reportedly be included in the 30,000 square meter facility that the business aims to construct. According to reports, the construction would also include additional buildings such as housing towers.
Dr. Fisha claims that the company has carried out a variety of operations using the stock system it put up to carry out the constructions. He asserted that between May 29 and June 14, 2023 he had already created 1.5 million birr in advertising stock.
