Addis Ababa, Jan. 22, 2026 — The (IFC) is considering an $80 million A-loan to support the refurbishment of the landmark Sheraton Addis and the construction of a new adjacent hotel by , according to an Environmental and Social Review Summary (ESRS) disclosed this week.
The proposed financing targets two major components: the ongoing remodeling and modernization of the 294-room Sheraton Addis, and the construction of a new 200-key hotel and private villas on 2.5 acres within MIDROC’s existing property in Addis Ababa’s Kirkos sub-city. IFC classified the project under Environmental Category B (Limited), indicating manageable and site-specific environmental and social risks.
The Sheraton Addis—commissioned in 1998 and long considered one of East Africa’s flagship luxury hotels—has been undergoing a phased refurbishment since 2023, with completion expected in 2026. The hotel is operated by , which assumed operations following its acquisition of Starwood Hotels & Resorts in 2016.
In parallel, MIDROC plans to develop the New Sheraton Addis, to be operated by Marriott under its select-service and extended-stay brands. IFC noted that the construction site is located in a modified urban setting and will not result in physical or economic displacement.
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