Ethiopian-born Saudi billionaire Mohammed Al Amoudi announces plans to construct a 10-star hotel in Ethiopia during a MIDROC staff appreciation event
Borkena Desk
(Toronto, Canada) — Mohammed Al Amoudi, an Ethiopian-born Saudi billionaire, on Thursday announced plans to build a 10-star hotel in Ethiopia. He owns the Sheraton Addis, Ethiopia’s most luxurious five-star hotel, featuring 293 rooms in the heart of Addis Ababa.
He revealed his interest in building a new hotel in the country while speaking virtually from Saudi Arabia during a MIDROC Ethiopia “family day” staff appreciation event. MIDROC has created over 80,000 jobs in the country across a range of sectors, including agriculture, mining, hospitality and tourism, manufacturing, and real estate.
“My wish is to see Ethiopia join the ranks of developed countries,” Sheikh Mohammed Hussein Ali Al-Amoudi, owner and chairman of the MIDROC Investment Group, said. In his 2025, MIDROC family day speech, he said he would like to see Ethiopia in the group of middle income countries.
He stated that “to make this vision a reality, MIDROC would work to further strengthen its contribution to the country’s development by constructing a 10-star hotel.”
He also remarked on creating more jobs, stating that MIDROC must double its work. However, no timeframe was provided.
Al Amoudi has not visited Ethiopia for over nine years following his detention by Saudi authorities in 2017. Although released from prison long ago, reports indicate he remains under travel restrictions and cannot leave the country.
Last year, he mentioned that he would return to the country, but that trip has not materialized.
Meanwhile, MIDROC announced that it has paid out a 1.2 billion birr bonus to its employees. According to company disclosures, it paid out 8.5 billion birr in salaries and generated $390 million in foreign currency for the country.
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