New Sheraton-branded hotel construction begins in Addis Ababa

Construction has officially commenced on a new Sheraton-branded hotel located within the existing Sheraton Addis compound. The project is being designed by ZIAS Architecture & Engineering, with DEZACON Construction serving as the primary builder, while ELIMI and ORC & SHC act as contractors and consultants respectively. The International Finance Corporation (IFC), a branch of the World Bank Group, has proposed providing up to 80 million dollars in financing to MIDROC Ethiopia Plc. This funding, intended to facilitate long-term foreign exchange access, aims to support the hotel development, which has a total estimated cost of up to 116 million dollars.