The Development Bank of Ethiopia intends to sell the following properties that it has acquired from a defaulter pursuant to the power vested in it by proclamation No. 97/98, 216/2000 and 1147/2019
Development Bank of Ethiopia
Bid Announcement
The Development Bank of Ethiopia intends to sell the following properties that it has acquired from a defaulter pursuant to the power vested in it by proclamation No. 97/98, 216/2000 and 1147/2019.
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S.N
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Borrower's/ Guarantor's Name
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Property/Project Location
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Type of Property/Project
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Plot size (In ha or m2) |
Level of Bid
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Bid Type
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Bid Floor Price (Birr)
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Date and Time of Bid
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1
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My Shoes and Leather Manufacturing PLC
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Amhara National Regional State Debre Birhan Town 09 Kebele
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Shoes and Leather manufacturing Factory (under implementation), Constructions, machineries and Electrical equipment
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6.83 hectare
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First Hundred
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Closed
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Birr 397,968,817.12 (Three Ninety-September 22, Seven Million Nine Hundred Sixty 2025 From Eight Thousand Eight Hundred Seventeen Birr and Twelve Cents)
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September 22, 2025 From 10:00-12:00 AM
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2
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Ato Girma Afework Medimim
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Addis Abeba Nifas Silk lafto Sub City Woreda 08 Kebele 11
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Gatepro Corrugated Iron Sheet Factory: Building Construction, City, Electrical Works, Machinery, Materials, Office Furniture And Equipment, Raw Materials And Product Inventory
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1,678 square meters |
Second Hundred
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Closed
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122,600,997.28 (One Hundred Twenty-Two Million Six Hundred Thousand Nine Ninety Seven Birr and Twenty Eight Cents)
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September 23, 2025 From 10:00-12:00 AM
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- Interested bidders can obtain a complete bid document of the properties, during office hours of the Bank upon payment of non-refundable fee of Birr 100.00 (Birr One Hundred) in cash, and fill out the bid document with their name; they offer price and other information as required by the format. The complete Wax-sealed bid document should be received until September 22, 2025 9:50 AM for Shoes and Leather Manufacturing Factory and until September 23, 2025 9:50 AM for Corrugated Iron Sheet Factory through bid boxes placed at the Bank's Head Office, second tower, ground floor starting from the third day of publication of this bid announcement.
- Bidders shall submit 10% (Ten percent) of the floor price only in CPO as a bid security.
- A winner shall deposit the remaining winning price within 15 (Fifteen) calendar days from the date award. Failure to deposit the amount within the specified time frame shall be a cause for loss of a bid security and cancellation of the award (bid).
- The bid shall take place at the Head office of the Development Bank of Ethiopia on the date and time specified in the table herein above.
- The winner is required to pay 15% VAT (Fifteen Percent Value Added Tax), and all other legal and administrative fees and charges in accordance with applicable laws.
- Some components of the properties have been procured under duty free scheme. Thus, the winner should either have matching custom duty exemption privilege or else shall be bound to pay the outstanding duties & taxes.
- The bank intends to sell the properties only in cash.
- The bank will write a letter to the concerned government body to facilitate transfer of the title of the properties to the buyer. It shall be the buyer's responsibility to follow- through the process and get it finalized.
- Only the bidders or their legal agencies shall be allowed to attend the bid process.
- Interested and eligible bidders may obtain more information from the Development Bank of Ethiopia, Ongoing Concern Projects and Acquired Assets Management Directorate, 2nd Tower 3rd Floor or through telephone 011-524-5373/ 011-524-4269. The Bank can arrange a pre-scheduled visit for interested bidders,
- The Bank reserves the right to cancel the bid partially or fully.
Development Bank of Ethiopia
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