A complete structural and architectural assessment has been conducted of Eritrea’s Banca d’Italia building by the Lebanese-based Sabbag firm.
The idea is to turn this historic building into an exquisite eight suite hotel and refurbish it with luxurious high end amenities. The project is being financed by Qatari Diar and the Government of Eritrea (GoE), whom together have invested on several construction projects along the Eritrean coast and capital with the goal of boosting tourism and modernizing urban centers.
The Banca d’Italia (bank of Italy) building is situated in Massawa and was originally built by the Italians in the 1920s. For decades, it served as the largest bank under the Italian administration and was later renamed to Haile Selassie Bank under Ethiopian occupation. During the liberation war for independence, the building was severely damaged by Soviet and Ethiopian bombardment, leaving the iconic building in ruins.