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Ethiopia - Dutch investor plans five-star hotel for $40 mil

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10/08/07

  12:52:29 pm, by admin, 317 words  
Categories: Business, Ethiopia, Tourism

Ethiopia - Dutch investor plans five-star hotel for $40 mil


Ethiopia - Dutch investor plans five-star hotel, real-estate development

By Andualem Sisay

Capital

Addis Ababa, Ethiopia -
Absorbed by the current investment climate and opportunities in Ethiopia, a Dutch national is to invest over 40 mln USD on a five star hotel and real-estate ventures in Addis Ababa.

Mr. Cvan Hal and his Ethiopian wife, Mrs. Genet Abebe, have decided to live in Ethiopia after concluding their 18 year business in the Netherlands. They have now secured 50,000 square meters in Bole area for real-estate purposes and are expecting 4-5,000 square meters of land in the same area for the five-star hotel they plan to build.

“We decided to move to Ethiopia encouraged by the business opportunities and the climate of the country,” says Mr. Cvan Hal, an Energy Engineer by profession who owns, along with his wife; Cool Force- a company engaged in the transport and energy sectors.
“The market opportunities in the Netherlands are minimal when compared to that of Ethiopia, as the European market features more competition.
There are lots of opportunities in Ethiopia for an investor,” he said.
When completed, the two investments are expected to create 330 permanent jobs.

Commenting on the areas that need improvement in the relevant offices he has visited so far, Mr. Hal suggested: “to make the money transfer short, easy and simple for a foreign investor, the National Bank of Ethiopia has to have one section that deals specifically with letters of credit. “This will help to reverse the current long process that consumes three to four days of a foreign investor by rotating from one office to another.”

He also indicated that the investment authorities and other offices that deal with foreign investors need to prepare a web-site or brochures in various international languages so as to save the time an investor wastes not knowing where to go, which process to accomplish first, how to go about it and what documents are expected.

25 comments

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Comment from: gmoney [Visitor]
gmoney

Wonderful news.

10/08/07 @ 13:14
Comment from: ababu [Visitor]
ababu

Your have got to love risk takers like these. I know I am not one. Good Luck to them.

10/08/07 @ 13:58
Comment from: teyaqee [Visitor]
teyaqee

It is good if someone with insight tells these sleep walkers that ICT is absolutely essential to boost the economy of the nation. Even if woyanea wants to have more investors around so that it can (mis)appropriate foreign capital, it should assist the expansion and growth of ICT.

10/08/07 @ 14:40
Comment from: Fed up [Visitor]
Fed up

I guess it means a verity of options for travlers, Good luck, Go for it, i hope they’ll succed.

10/08/07 @ 15:08
Comment from: gomen [Visitor]
gomen

GOOD JOB!!! BRING THE BUSINESS TO ETHIOPIA!!

10/08/07 @ 15:13
Comment from: Ayano [Visitor]
Ayano

It is a good idia and welcome investers.If any body give a -VE COMMENT,they are simply juless.

10/08/07 @ 15:21
Comment from: elcad [Visitor]
elcad

Only 330 jobs out of a more than 40 Million USD investment and after securing all these amount of land in Addis Abebas expensive market? Why not focusing in other economic sectors? Who said that all Ethiopia need is another hotel with no use for the local population?

10/08/07 @ 15:39
Comment from: Yonas Tibebe [Visitor]
Yonas Tibebe

This is great news. It is true that Addis is in desperate need of international standard hotels. Sure, we have the Sheraton and Hilton, but after that, it’s a big dropoff to the next level (Ghion and the likes). I think that the city administration had also commissioned a study that concluded the need for additional hotel capacity. This new announcement, the Ethiopian Airlines hotel at Bole (still not started) and the two French hotels at Meskel square will go a long way in filling the gap.

The other good news is that the shortcomings in attracting foreign investors is published for all to read. This will add pressure on the concerned parties and in the end will hopefully streamline the process. Two great pieces of news!!

10/08/07 @ 16:18
Comment from: Fed up [Visitor]
Fed up

elcad,

Why dumb people like you even mention or talk about Ethiopian economy, stop being ignorant fool, even if the hotel hire 1 more person out of the many who don’t have jobs it’s a plus, stop crying and being a menace, join the civillized and the great thinkers, i like to see you open up some opportunities for others by coming up with some thing good instead of bashing people who’re doing good.

See ya!

10/08/07 @ 16:31
Comment from: Yirgacheffeeይርጋጨፍ [Visitor]
Yirgacheffeeይርጋጨፍ

This is indeed great news. I was in Ethiopia for the last three month during the summer and what I saw was a major economic BOOM! Foreign investers and diaspora Ethiopians as well as locals alike are funneling in lots of financial resources to build real estate, factories, flower farms, and more.

This explains why no one in Addis cared about the cudies when they were released from Kaliti.

Fed Up,

what’s up bro—–and yes I had lots of Kurt in Ethiopia (specially in Nazreth)LOL

[What the was error message you got when you try to access this website from HagerBet? ]

10/08/07 @ 16:37
Comment from: Helina [Visitor]
Helina

teyaqee and elcad, you need a reality check. you must be stuck in hole of hate. any form of investment especially in the amt of $40 doesn’t always come out way. so you need to learn to separate politics from investment. wake up and smell the coffee.. people like you are destroying ethiopia more than CUD and EPRDF… politicians come and go but such investments stay and support out economy. in fact, this gov’t is far better in the economic management of the country than any other gov’t in the history of the country. so let’s not mix up things.. i have no problem anyone being against anyone politically - - however, we need to be open minded…

10/08/07 @ 16:42
Comment from: Samuel Gebru [Visitor]
Samuel Gebru

Excellent! Welcome back to Ethiopia!

I LOVE THIS QUOTE:
“He also indicated that the investment authorities and other offices that deal with foreign investors need to prepare a web-site or brochures in various international languages so as to save the time an investor wastes not knowing where to go, which process to accomplish first, how to go about it and what documents are expected.”

SUMMED UP IN TWO WORDS: CAPACITY BUILDING!!!!!!!!!!!!!!!!!

10/08/07 @ 17:04
Comment from: Eshatu Daba [Visitor]
Eshatu Daba

Ethiopia has a better business and investment friendly system and unlimited are of getting in to business than the mighty Holland. Investment and capital formation and wealth creation is more powerful than political capital that is not an asset that is yours for ever to enjoy.
Get smart and let democracy grow without fear of the possibility of abortion or death in the delivery room of a democratic child birth of a mother like Ethiopia. Democracy grows hand in hand with the wealth of nations. It is not easy for a poor country that can’t satisfy the basic needs of its people to become a fulfledged democracy without creating anarchy. Instead of trying to retard the development of the nation and the growth of democracy and Jeopardize the sovereignty and unity of the country, conspiring with the mortal enemies of Ethiopia, it is better to go and make money and create jobs in your country. If it is good for a Dutch man to choose to live in Ethiopia it should be good enough for one who is an Ethiopian by birth.
There is time for every thing a time to be born a time to die. A time to politic and a time to invest and a time to reap the fruit of what you saw. A time to smile and a time to cry. This is time for making money and building a nation. If such a time passes without being exploited it may never come again and mother Ethiopia will go back to its dark ages of despair, humiliating starvation and death.
This is time to spend ones energy invested in the building of some thing or every thing. Foreigners are out of breath to reach Ethiopia and to invest their money from all corners of the world; they must have seen a great star shining over Ethiopia. First thing first work hard and get rich. Then you could reach the highest power house walking on cloud five; sky over another sky without climbing a mountain and killing men. The children of those that are working and making money today are going to have the easiest time to be leaders of their nation, than others.
I believe there is destiny it is not because Bush is smarter than Alan Green Span but, he is the president. Bill Clinton is not born rich but he has the slickness and the smartest and is presentable and oratory to make it to the top. It is not his party or philosophy as such it is destiny to be born five feet tall and not 6.9 feet tall, to be stupid or smart, rich or poor lucky or unlucky. Who ever thought Mengistu would be the leader of Ethiopia and then Meles takes it from him by force. The next leader is there some where, no body is going to give him the power but he is destined for it and nobody could not stop it even if he wants.
Ye-ta-delual-enje-ye-tagelual? Some are born melancholy and others even if they have lost their eyes, legs and limbs they are born sanguine and live happily than the Queen or Bill Gets. What do you choose that I give you asked God and King Solomon answered give me wisdom so it was given him. If God asks you today what I can do for you, some of you will say 100 million dollars will be OK, others say , kill Meles and EPRDF for good. But, God will answer you, foolish man don’t you know man does not live with bread alone but by the word of God for eternal life, and to the others, dont you know the golden rule that says love your brother as you love yourself, You may say Meles is not my brother. But, God says all men are my children and everyone should be your brother. Because you wishe bad to one of my children against my commandment, they will take your body out and he droped dead. What is spiritual and eternal is to be desired more, and to love and honor God by obeying his commandment saves one from his evil thought.

10/08/07 @ 17:53
Comment from: Dawit [Visitor]
Dawit

This is good because the better the hotels the more people from outside the country will come and spend there money In Addis, and the local businesses will reap the benifits,Good move we need more outside investors, This is not about Meles, This is for our country to be In a place where we can live together and be happy and make money and have peace. This kind of devolpement will be there long after Meles.This will only help to provide good schools, good medical centers, for its people, The more money that comes in to the country. It will be better for the people I was just in Addis and I love it there, I am going back the first week of November,I will stay for four months.Maybe I will live there.I am willing to invest my money in country. it will help provide some jobs. The more we invest the more we help the peolpe who live there. Ethiopia forever!!!!!!:D

10/08/07 @ 18:03
Comment from: Shagray [Visitor]
Shagray

Is it insignificant if 330 Ethiopians living in misery could begin eating three times a day? We have to see this from the reality of our people. Some of the future employees of this project would definitely be bread-earners for their families. This is only a single project and at the initial period. If there are hundreds of them, imagine how the living conditions of our people would slowly change for the better with the development and expansion of these projects. This is the way Western countries started the journey of development. Nothing happened at one stroke or by miracle. Those who belittle the significance of such small projects in people’s life would be highly appreciated if they could do better than that and show their compassion to the people through action. They will be considered “Bale Teleq Wulata”. I wonder if the armchair critics and dreamers want these 330 would-be workers to wait and starve until the dreamers open projects that employ hundreds of thousands of Ethiopians. But to any Ethiopian, whose centre of interest is the change of the miserable life of the people; it makes a big difference, if one more Ethiopian could eat three times a day. “Hezb EndaySaman”.

10/08/07 @ 21:48

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