Purpose Black's Ambitious, Unconventional Real Estate Debut

BGI Ethiopia, the country's major beer producer, is relocating its century-old headquarters from Mexico Square to Sheger City due to city regulations prohibiting factories in central areas. The vacated 30,000-square-meter property, valued at roughly five billion Birr, is being acquired by Purpose Black Ethiopia, a two-year-old company planning a 115-story mixed-use development called Ke'Geberew Tower with an unconventional public financing model offering shareholding packages that include apartment ownership incentives.