Ethiopian Insurance Corporation Awards a prize to winners of design competition conducted for thirty storey multipurpose building on 04 February, 2014, at Sheraton Addis. The prize is awarded in the presence of Ato Yewondwossen Eteffa, Chief Executive Officer of EIC, competitors, EIC%u2019s management members, customers and  invited guests.
The Chief Executive officer of the Ethiopian Insurance Corporation, Ato Yewondwossen Eteffa, in his opening speech said that, the Ethiopian Insurance Corporation which was established by proclamation No. 68/1975 on January 1976. Since its establishment the Corporation provides its customers efficient and reliable insurance services and engages in investment activities by deploying the right mix of expertise. In the past 38 years of its service the corporation contributed to the sustainable development of the national economy and played a vital role.
Ato Yewondwossen added that, to strengthen the corporation%u2019s risk carrying capacity it considers investment as one of the best mechanism. Accordingly the corporation plan to construct thirty plus storey multipurpose building.  According to Ato Yewodwossen, the building is going to be constructed around Ambassador on 12,000 m2 area of plot. The construction of the building is estimated to cost the corporation about birr 2.2 billion which will be fully covered by the corporation. The building has a basement which will serve as a parking area for 750 cars at one time.
In general the Corporation%u2019s future multipurpose building will serve as:-
%u2022 Ethiopian Insurance Corporation%u2019s head office,
%u2022 Different Offices to be rented,
%u2022 Market Center,
%u2022 Entertainment Center, and
%u2022 Parking service.
The Corporation floats a bid for eligible competitors to present the design for its multipurpose building. The competition system follows world class standard. Accordingly, five competitors pass to submit their designs and evaluation was made by the jury formed for this purpose. The jury members contain three scholars from Addis Ababa University and two professionals from Ministry of Infrastructure Department of Construction.
The following are the winner of the design competition:-
First, MH Engineering,
Second, Image consult, and
Third, Virtual consulting.