Our Works

Our consultancy Firm has successfully accomplished numerous consultancy assignments, majority of which are related to property valuation, transaction advisory, property management and cost analysis. We have built an excellent reputation with regard to standards of services, professional diligence and ethical principles.

Though the practice of the land advisory ,property valuation and management profession is yet at its infancy in Ethiopia, we pride selves with the pioneering knowledge development and transfer roles we are playing in the Country. All our consultancy and advisory services are carried out in strict conformity to internationally accepted standards, with particular reference to the International Valuation Standards (IVS) of the International Valuation Standards Committee (IVSC) , International Financial Reporting Standards /IFRS/ 13 _ Fair Value Measurement ,FAO Voluntary guidelines for good governance in land and natural resources tenure , and other best practice references.

Commercial Properties

Determination of market value of the Corporation’s 19,000 Housing Units

  • Project Location: Addis Ababa and Dire Dawa.
  • Name of Client: FDRE Federal Housing Corporation.
  • Type of Property: Commercial, Residential, and warehouse properties
  • Purpose of Valuation: Determination of current market value (as of 2019), of the Corporation’s 19,000 Housing units and Determination of Real properties market value for IFRS first time adoption. (as of July 8, 2017).
  • Address: Kirkos Sub city, Kebele 07, Addis Ababa, Ethiopia.
  • Starting Date: March /2018 Completion date: July/2019
  • Description of Actual Service Provided by our firm: We have made physical inspection of the Real properties, taken note of actual construction and depreciation parameters, surveyed market comparable with regard to construction cost of Buildings, compiled and consolidated market parameters, carried out analysis and provided professional opinion of market value  as of 2019 and provided professional opinion of market value as of 2017 (for first time  IFRS adoption).

Determination of market values of Real Property, Personal Property & Business goodwill

  • Project Location: Addis Ababa
  • Name of Client: Lucy Academy PLC
  • Purpose of Valuation: Determination of market values of Real Property, Personal Property and business goodwill.
  • Address: Addis Ababa
  • Starting Date: April/2009
  • Completion date: June/2009
  • Description of Services Provided by: The assignment involved survey and inspection of the assets  of the Academy; including, buildings and improvements on land, trade fixtures and furniture, books, laboratory equipment, vehicles and company business financial documents. Detailed research, data collection and analysis was performed and provided professional opinion of market value based on international valuation and accounting standards.
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Determination of the opportunity cost of BGI Ethiopia’s premise

  • Project Location: Addis Ababa, Lideta Sub city, Woreda   08.
  • Name of Client: BGI Ethiopia
  • Property Type: Commercial Property
  • Purpose of Valuation: valuation of BGI Ethiopia’s 10 storied head Office building and its premises as separate entity, valuation of the production premise as separate property and valuation of the whole property as one, to provide Company Directors with required information for strategic decision-making purposes.
  • Address: Addis Ababa, Lideta Sub city, Woreda   08.
  • Starting Date: February /2020 Completion date: March/2020
  • Description of Services Provided: We have made physical inspection the properties, surveyed neighborhood market parameters, carried out analysis and provided professional opinion of  their market values. We have also made development analysis on the property to determine its highest and best use as if the premise was vacant.

Determination of Market Value of Ato Tesfaye Addis’s Commercial Building

  • Project Location: Addis Ababa, Bole sub-city
  • Name of Client: Ato Tesfaye Addis.
  • Purpose of Valuation: Determination of Market Value of the 9-story building and attached development for Cooperative Board financial strategic decision.  
  • Address: Addis Ababa
  • Starting Date: October/2016
  • Completion date: November / 2016
  • Description of Services Provided: We have made physical inspection of the Building and other developments, taken note of actual construction and depreciation parameters, surveyed market comparable with regard to construction cost of Buildings cost, compiled and consolidated market parameters, carried out analysis and determination of Market Value.

Determination of Market Value of Tebaber Berta Commercial Building

  • Project Location: Addis Ababa, Kirkos  sub-city
  • Name of Client: Tebaber Berta Multiple Service Cooperative Society & Limited Liability.
  • Purpose of Valuation: The project involved determination of the Market Value of the properties for the client Financial strategic decision.
  • Address: Addis Ababa
  • Starting Date: November/2019
  • Completion date: December / 2019
  • Description of Services Provided: We have made physical inspection of the Building and other developments, taken note of actual construction and depreciation parameters, surveyed market comparable with regard to construction cost of Buildings cost, compiled and consolidated market parameters, carried out analysis and determination of Market Value.

Determination of historical replacement cost of Ato Seman Jabir Bashir’s Commercial Building

  • Project Location: Addis Ababa, Kirkos  sub-city
  • Name of Client: Ato Seman Jabir Beshir.
  • Purpose of Valuation: Determination of historical replacement cost of Commercial real property for tax accounting purposes.
  •  Address: Addis Ababa
  • Starting Date: April/2019
  • Completion date: May/2019
  • Description of Services Provided: We have made physical inspection of the Real property, taken note of actual construction and depreciation parameters, surveyed market comparable with regard to construction cost of Buildings and worked out replacement cost of  9 story commercial real property for  tax accounting purposes.

Industrial Properties

Determination of the market value of the real & personal properties.

  • Project Location: Kality ,Megenagna, Lebu, CMC, Ayat, Gondar, Bahirdar.
  • Name of Client: Ethiopian Steel PLC.
  • Type of Property: Industrial Property
  • Purpose of Valuation: The project involved determination of the market value of the real & Personal properties within the premise of Ethiopian Steel plc. The task included the valuation work of the leased land, Buildings, site works, Industrial Machineries, Vehicles, Office Furniture & Equipment, Residential furniture, domestic appliances, tools at Addis Ababa, Gondar & Bahir Dar.
  • Address: Addis Ababa
  • Starting Date: May/2013
  • Completion date: July/2013
  • Description of Actual Service Provided by our firm: We have made physical inspection of the properties, taken note of actual depreciation parameters, surveyed market comparable with regard to construction costs, cost of machineries, cost of Vehicles, Cost of Office furniture, equipment, kitchen appliances, computers. The collected market parameters were compiled, consolidated, and analyzed. to help provide professional opinion of market value of ESPLC’s Real & Personal properties.

Determination of market value of Real Property & Personal Property

  • Project Location: Gelan Kebele, Akaki  Wereda, Eastern Shawa Oromia Regional Estate.
  • Name of Client: CADILA Pharmaceutical
  • Type of Property: Industrial Property
  • Purpose of Valuation: Determination of market value of the Companies Real Property (Buildings, Attached development & Land Use Right) & Personal Properties (Plant & Machineries’, Motor Vehicles, Generators, Office Furniture & Equipment’s, Computers & Printers).
  • Address: Gelan Kebele, Akaki  Wereda, Eastern Shewa Oromia Regional State.
  • Starting Date: February /2020
  • Completion date: April/2020
  • Description of Actual Service Provided by our firm: We have made physical inspection of the Real properties & Personal Properties, taken note of actual conditions and depreciation parameters, surveyed market comparable with regard to construction cost of Buildings and personal properties cost (Plant & Machineries’, Motor Vehicles, Generators, computers & Printers, Office Furnitures and Equipment), compiled and consolidated market parameters, carried out analysis and provided professional opinion of market value.

Determination of market values of Real Property & Personal Property

  • Project Location: Burayu, Oromia Regional State.
  • Name of Client: CGF Business group
  • Property Type: Industrial Property
  • Purpose of Valuation: Determination of market value of the Companies Buildings, Plant & Machineries’, Motor Vehicles, and Generators.
  • Address: Addis Ababa
  • Starting Date: July/2020
  • Completion date: August/2020
  • Description of Services Provided: We have made physical inspection of the Real properties & Personal Properties, taken note of actual conditions and depreciation parameters, surveyed market comparable with regard to construction cost of Buildings and personal properties (Plant & Machineries’, Motor Vehicles, Generators, computers & Printers, Office Furnitures and Equipment), compiled and consolidated market parameters, carried out analysis and provided professional opinion of current market value.

Determination of replacement cost of Bottled Water Factory Real Properties; including Industrial buildings, Warehouses,G+1 office buildings, Guest house & attached development

  • Project Location: Oromia Regional Estate, Sendafa/Bakkee city
  • Name of Client: ZEBYM Trading PLC
  • Property Type: Industrial Property
  • Purpose of Valuation: determination of replacement cost of the  water bottling factory real property for tax accounting purposes
  • Address: Addis Ababa
  • Starting Date: Jan 2018
  • Completion date: March 2018
  • Description of Services Provided: We made physical inspection of the properties, took measurements and notes on the property , made market survey on the cost of materials, labor, equipment in construction work, drew replacement cost models, made rigorous analysis on componentization and quantity surveying, and  determined the replacement cost of the real property developments on the factory premises for use in tax accounting .

Residential Properties

Valuation of a commercial property

  • Project Location: Addis Ababa
  • Name of Client: NIB Insurance Company S.CO.
  • Type of Property: Commercial Property
  • Purpose of Valuation: valuation of a commercial property at woreda 17 to determine the market value for acquisition by the Nib Insurance Company.
  • Address: Addis Ababa
  • Starting Date: April/2008
  • Completion date: April/2008
  • Description of Services Provided: We carried out physical inspection of the properties, conducted research to determine comparative market data, made analysis on the data collected and provided professional opinion of market value of the property in accordance with the International Valuation Standards.

Valuation of market value of W/o Fozia Sultan’s G+3 RESIDENTIAL PROPERTY (Under Construction)

  • Project Location: Addis Ababa, Bole Sub City  ,Keb. 10 ,House Number . New
  • Name of Client: Federal Police Commission -Finance Crime Investigation Unit
  • Property Type: Residential Property
  • Purpose of Valuation: determination of the market value of the property in retrospect , as of three years ago at time of inspection.
  • Address: Addis Ababa
  • Starting Date: March 2015
  • Completion date: April 2015
  • Description of Services Provided: we were requested by FDRE Federal Police Financial Crime Investigation Unit to assist in the determination of the market value of the property in retrospect , as of three years ago at time of inspection . We made inspection of the property , made retrospective market assessment to compile comparable as of the date of valuation , made analysis and provided an opinion of market value of the property . The task also included being called to the court proceeding and provide an expert witness testimonial on the case .

Determination of Market Value of Wro. Letay Kidane’s Residential Building

  • Project Location: Adama city, Oromia Regional State.
  • Name of Client: Wro Letay Kidane
  • Purpose of Valuation: Determination of Market value of Residential property and related developments at Adama city, for Tax Accounting Purpose.
  • Address: Addis Ababa
  • Starting Date: June/2016
  • Completion date: July/2016
  • Description of Services Provided: We have made an physical inspection of Real properties (Building, Attached development and Land use Right value), taken note of actual construction cost of Buildings & Attached development such as fence & compound work), analyzed the physical condition to set depreciation, compiled and consolidated market parameters.

Determination of Replacement cost of Ato Tibebe Getahun’s the Residential Building

  • Project Location: Addis Ababa,Yeka subcity
  • Name of Client: Ato Tibebe Getahun
  • Purpose of Valuation: Determination of the replacement cost of the property for tax accounting purpose.
  • Address: Addis Ababa
  • Starting Date: July/2019
  • Completion date: August / 2019
  • Description of Services Provided: Replacement cost determination of the property in retrospect, as of two years before the time of inspection. We made inspection of the property, retrospective market assessment to compile comparable as of the date of valuation, made analysis and provided professional opinion of market value. The task also included being subpoenaed to court to provide expert witness testimony.

Hospitality Industry

Determination of market value of Real & Personal Properties

  • Project Location: Oromia Reginal state, West Arsi, Wereda: Arsi Negelle, Kebelle: Daka
  • Name of Client: SPA Service Enterprise, Federal Palace Administration.
  • Property Type: Hotel
  • Purpose of Valuation: The project involved determination of the Fixed Asset Valuation of the Wendo Genet Resort Hotel.
  • Address: Kirkos Sub city, Kebele 07, Addis Ababa, Ethiopia.
  • Starting Date: April/2014 Completion date: May/2014
  • Description Services Provided: We have made the valuation work of complete hotel property which includes Buildings, Compound development, Hotel & Office furniture, Hotel & office equipment, Boats, Hotel kitchen equipment & utensils, Generators, pumps, t0ols, Domestic appliance & electronics, computers, printers, etc.

Determination of historical replacement cost of the 11 story Hotel building

  • Project Location: Addis Ababa  , Bole Sub city
  • Name of Client: Great City Hotel and Tourism PLC
  • Type of property: Hotel
  • Purpose of Valuation: The project involved determination of historical replacement cost of the 11 story Hotel’s real property for tax accounting purposes.
  •  Address: Bole Sub city, Woreda  07,Addis Ababa, Ethiopia.
  • Starting Date: October /2018
  • Completion date: November/2018
  • Description of Services Provided: We have made physical inspection of the Real properties, taken note of actual construction and depreciation parameters, surveyed market comparable with regard to construction cost of Buildings and worked out replacement cost of the Hotel’s elven story real property for tax accounting purposes.

Consultancy

Updating & upgrading of properties valuation manual used by EBA member’s bank.

  • Project Location: Addis Ababa
  • Name of Client: Ethiopian Bankers Association
  • Purpose of Valuation: updating & upgrading of properties valuation manual used by EBA member banks.
  • Address: Addis Ababa
  • Starting Date: April/2008
  • Completion date: April/2008
  • Description of Services Provided: We have currently submitted the final draft of the valuation manual, and awaiting review comments by the client to finalize the work. All work is executed by our firm’s permanent and intermittent staffs. We have carried out data research for over 350 construction material prices ,surveyed  rental rates of over 200 properties ,collected and analyzed over 3000 land lease data, analyzed data and determined capitalization and yield rates, devised appropriate valuation methodologies ,in line with internationally accepted standards  and formulated various procedures to be employed in the application of the manual .

Agriculture

Determination of replacement cost of WoW Bottled Water Factory Real Properties

  • Project Location: SNNPR, Gurage Zone , Cheha Woreda , Adoshe  Kebele
  • Name of Client: Yekabdi Agricultural Development PLC
  • Property Type: Industrial Property
  • Purpose of Valuation: determination of replacement cost of WoW water factory real property for tax accounting purposes.
  • Address: Addis Ababa
  • Starting Date: May 2017
  • Completion date: July 2017
  • Description of Services Provided: We made physical inspection of the properties, took measurements and notes on the property , made market survey on cost of materials, labor, equipment in construction work , drew replacement cost models, made rigorous analysis on componentization and quantity surveying, and  determined the replacement cost of the real property developments on the factory premises for use in tax accounting .

Determine market value of Bazin Agricultural & Industrial Development PLC’s cotton farm development and fixed assets.

  • Name of Client: Bazin Agricultural & Industrial Development PLC’s  
  • Property Type: Agricultural Property
  • Purpose of Valuation: determination of market value of the farm development and fixed assets to aid in assessment of collateral value of the assets for secured lending
  • Address: Abobo Kebele, Gambella Regional State, Ethiopia
  • Starting Date: May 2009
  • Completion date: June 2009
  • Description of Services Provided: We made inspection of the farm development property , machinery and other fixed assets, made market assessment to compile comparable as of the date of valuation , made analysis and provided an opinion of market value of the farm development, lease land and fixed asset property.

Determine market value of Bazin Agricultural & Industrial Development PLC’s coffee farm development.

  • Name of Client: Bazin Agricultural & Industrial Development PLC’s   
  • Property Type: Agricultural Property
  • Purpose of Valuation: determination of market value of the farm development and fixed assets to aid in assessment of collateral value of the assets for secured lending
  • Address: Olmee Kebele  , Seka Chekorsa Woreda , Jimma Zone  ,Oromia Regional State ,Ethiopia
  • Starting Date: May 2009
  • Completion date: June 2009
  • Description of Services Provided: We made inspection of the farm development property, machinery and other fixed assets, made market assessment to compile comparable as of the date of valuation , made analysis and provided an opinion of market value of the farm development, lease land and fixed asset property.

Determine fair market value of the farm development

  • Name of Client: CADILLA PHARMACEUTICALS (ETH) PLC   
  • Property Type: Agricultural Property
  • Purpose of Valuation: fair market value of the farm development and fixed assets for IFRS First Time Adoption
  • Address: Gelan , Oromia
  • Starting Date: October 2019
  • Completion date: Feb 2020
  • Description of Services Provided: We made inspection of the farm development property, machinery and other fixed assets, made market assessment to compile comparable as of the date of valuation, made analysis and provided an opinion of fair market value of the farm development, lease land and fixed asset property, all in accordance with IFRS -13 Fair Value Measurement .