Dietrich Rogge, Founder & CEO, Rockstone Real Estate
Vision
KEFITA will be a best-in-class real estate development, combining international best practices while also being a genuinely Ethiopian building both in terms of design and amenities.
I started ROCKSTONE in 2013, today we have 3 offices in Berlin, Hamburg, and Munich in Germany, and by 2018 we expanded into Lisbon in Portugal and thereafter Madrid in Spain to diversify into other European countries. Next to diversifying my business, I started exploring real estate business opportunities in East Africa, and one of my closest friends and also now business partner pointed to Ethiopia.
When I first arrived in Addis, I instantly fell in love with the country, its genuine culture, the warmth of its people and the metropolitan character of its capital, Addis Ababa. On a business level, it quickly became clear to me that, similar to other metropolises around the world, there is also a housing crisis in Addis namely, lack of trust in the real estate market, lack of building quality, and lack of foreign capital. Next to addressing these specific reasons by forming a very strong team together with our local partner Bigar, and US-based private equity firm Cerberus, all of whom have a long-term interest in Ethiopia, we defined a clear strategy.
Rockstone
Rockstone is a German based international full-service real estate developer and investment manager with offices in Europe and Africa. It has been active in Ethiopia since 2018.
Rockstone’s focus is on high-end residential and commercial real estate projects. Typical project size is €25-75 million in prime CBD or residential locations, providing professional services, modern designs and sustainable construction qualities.
Rockstone is currently developing projects worth $650 million in current and completed projects, on time and within budget. It combines real estate know-how with its own principal capital and active real estate management.
Bigar
BIGAR Builders and Developers was formed by four partners in 2012 in Addis Abeba, Ethiopia. The founders have cumulative experience of over 40 years practicing in the fields of architecture, engineering, urban design and project management.
The team is dedicated to facilitating efficient design and implementation processes in the construction industry. High priority is given to teamwork, dialogue, debate and research aimed at transforming and in some instances preserving the built environment. Since inception BIGAR has been responsible for large scale developments in the private, public sector as well as for the diplomatic community of Ethiopia. BIGAR has designed, and managed projects ranging from $5 to $50 million.
BIGAR is also keen on restoration projects. It has overseen the restoration of several notable buildings in Addis Abeba and in other locations in the country.
Cerberus
The Ethiopian development opportunity was established as a joint venture in 2018 with Cerberus Capital Management, LP.
Founded in 1992, Cerberus is a global leader in alternative investing with approximately $42 billion in assets across complementary real estate, credit, and private equity platforms.
Cerberus Frontier (formerly SGI Frontier Capital) is Ethiopia’s first Private Equity investor, with over 11 years experience in the country.
Cerberus Real Estate has invested approximately $29 billion of equity in more than 575 transactions around the world, making it one of the world’s largest global Real Estate investors.
Urko Sanchez Architects
An award-winning architectural firm renowned for excellence in design and selected among the best practices in Africa.
Based in Kenya and Spain, the firm has undertaken projects throughout East Africa, Europe and Middle East. The team at Urko Sanchez Architects is flexible, multicultural and boasts stellar local and international track records.
Principal Urko Sanchez has a wealth of experience, having travelled extensively and accomplished projects in multiple contexts. Urko uses his broad experience to craft an innovative and versatile architectural outlook for every unique development. Projects range in size, complexity and function. In all cases, however, the focus is on the client and the context, with a tailor-crafted approach to each unique project. Above all else, the firm values client trust, and unparalleled quality in the expression and execution of its ideas.
ANGULORASO
Consultant engineers
ANGULORASO founded in 2002, has a network of offices in across Africa and Europe to provide engineering services to the construction industry. It belongs to a group with over 20 years of experience and has highly trained professionals in construction supervision, project management and related disciplines.
Ethiopia is the birthplace of humanity and lies at the heart of this great continent. A land of great diversity, rich heritage and enormous opportunity, it carries its great influence as the seat of African Union power and diplomacy with deep respect and humility.
Kefita embodies Ethiopia’s past, present and future.
