The Real Estate in Ethiopia market is bigger than ever, particularly since new reforms have been implemented across the board in Ethiopian society. Due to the ever-growing demand for homes from both the local population and Ethiopian diasporas, these reforms have reignited the real estate market in Ethiopia.
The fact that Real Estate in Ethiopia and developers have a poor reputation for not delivering on time and for cost manipulation is not a new thing. Although some factors were beyond the developers’ control, some unscrupulous individuals seeking to benefit themselves at the expense of unsuspecting home buyers roam free in the industry.
Top Real Estate Companies in Ethiopia
Ayat Real Estate in Ethiopia
Ayat is known for being a groundbreaker in the real estate industry, especially in the construction of residential homes. Ayat is miles ahead of the competition with a ground-breaking and highly successful combination of Real Estate Growth, Real Estate Construction, and Real Estate Finance.
Given the risks taken during the pioneering years, in a practically unknown real estate market, and the bumpy ride that followed over the next two decades, it’s no surprise that Ayat is proud not just of being the real estate industry’s standard-bearer, but also of the strong experience it has in its bag.
Hundreds of Ethiopians and Ethiopian diasporas, both at home and abroad, have become proud homeowners in their homeland thanks to Ayat, an Ethiopian-owned and operated business. In the coming years, they aim to place a roof over the heads of thousands of more people. Ayat has supported over 7,000 residential homes, 1,000 commercial outlets, and over 15,000 Ethiopians with work opportunities in the previous years.
Ayat real estate builds neighborhoods in some of Addis Ababa’s most coveted locations by offering luxury new apartments to future homeowners. Customers in Addis’s top school districts have more options than they ever thought, with hundreds of villas, residential homes, malls, and tens of business outlets to choose from in a variety of designs and styles.
All structures with an Ayat touch are thoughtfully built, planned, and fitted to suit a wide variety of needs and tastes. Ayat is known for not only building houses but also for developing a very satisfying group for its home buyers, which is a rare occurrence by any means.
+251 977 60 60 60 +251 976 60 60 60 +251 972 60 60 60
Sunshine Investment Group Real Estate in Ethiopia
Samuel is the founder of Sunshine Investment Group, a construction and development company in Ethiopia and the Middle East that develops residential, leisure, and commercial properties. Sunshine Investment Group has constructed over 5,000 residential and commercial properties in Ethiopia since its founding in 1983.
Sunshine Investment Group is without a doubt one of Ethiopia’s most well-known real estate firms. When it comes to real estate in Ethiopia, the name Sunshine is often mentioned, and with good reason. Sunshine won the International Diamond Award for Quality in 2016, the Century International Quality Age in 2014, and the International Quality Summit Award in 2012.
Addis Ababa, Ethiopia
Phone no.: +251 115 513289
Noah Real Estate in Ethiopia
Noah Real Estate PLC was established in 2013 and has since completed eight residential and five commercial mid-to-large-scale projects, with an additional eleven projects in various stages of development in Addis Ababa. Noah has built and is currently building 21 projects totaling 720,000 square meters of a concrete slab in its 7 years of experience.
Noah Real Estate is a prestigious firm with a solid financial base, cutting-edge design creativity, high quality, and on-time delivery. This combination allows real estate to create powerful fantasies and can elicit an immediate desire to explore the interior. Noah aspires to make a major contribution to the real estate industry.
Their slogan “Plan, Create and Deliver” stems from their ability to provide consumers with an outstanding buying experience. They go above and beyond the norm when it comes to real estate sales. Real estate is responsible for the growth, acquisition, and management of assets.
The real estate approach can be summed up in one word: responsible sale. They sell the masterpieces once they’ve been finished. The building is delivered after all of the details have been completed. The real estate industry has a bold vision. To become the most well-known brand in the real estate industry and to be associated with high-quality construction – in terms of design, construction, and delivery.
Noah is a sister company of Great Abyssinia PLC, a renowned FMCG company with well-known brands like Abyssinia Coffee, Prigat, Tulip, and aby soda drinks in a variety of flavors, as well as a recent prestigious deal with Nestlé in water bottling, continuing the Abyssinia Spring brand.
Abyssinia Plaza, 12th Floor in Bole
Right beside Bole Medhanialem Church
Tsehay Real Estate in Ethiopia
China Geology Corporation Overseas Construction Group Ltd. (CGCOC) and Red Fox International Business established Tsehay Real Estate Plc. in 2011. Following that, these businesses will hire Qian Tang Construction Plc. to construct the complex, which began in 2013.
Tsehay Real Estate is Ethiopia’s first Chinese real estate firm, and the Poli Lotus International Center was built on a 30,000 square meter plot of land in a significant part of the city to create a new standard of living. High-rise office towers, highly rated restaurants, a shopping center with a theater, luxury apartments, sports and gym venues, playgrounds, and an underground parking garage are all part of the scheme.
Phone: +251 933 007388, +251 933 007399
Metropolitan Real Estate in Ethiopia
Metropolitan Real Estate is an American company that has been active in Turkey and the United States for over two decades and expanded to Ethiopia in 2009 to become one of the leading players in the Ethiopian luxury real estate industry.
Metropolitan’s latest home in Addis Ababa for rent, Westview Luxury Apartment, is unquestionably a giant step toward achieving this aim. With its spacious quarters, central location, and beautiful and practical architecture, the Addis Ababa home for sale is ideal for families.
Metropolitan is a well-established property development company dedicated to creating homes that are practical, convenient, and comfortable for today’s savvy investor and modern lifestyle seeker. The business has over 20 years of experience in global real estate and is responsible for over 450 large-scale developments around the world.
Metropolitan Real Estate is bringing world-class luxury high-end apartments to Addis Ababa’s most important neighborhoods. They hope to meet Ethiopia’s luxury living needs while also providing long-term profitable real estate investment opportunities.
Mon – Fri 08:30 EAT – 17:30 EAT
SAT: 08:30 – 12:30 EAT
Bole, Next to Ukrainian Embassy,
Around Friendship Hotel,
Addis Ababa, Ethiopia
Flintstone Homes Real Estate in Ethiopia
When it was founded in 1992, Flintstone Engineering s.co, then known as “Tsedeke Yihune Construction,” entered the Ethiopian construction sector as a level 8 building contractor. The company was renamed Flintstone Engineering a year later, after the “flintstones” that early men used to light fires to symbolize humanity’s development through invention and technology.
Flintstone began its remarkable journey by subcontracting work from established companies when the local construction sector was in its adolescence. This enabled the company to grow its construction management and manpower capability. Today, the company has established itself as one of Ethiopia’s leading real estate and construction firms.
Twin Crossings, Flintstone Homes’ first major real estate project, consisted of 40 villa residences, 60 townhouses, and 450 condominiums. They finished the project in a year, making it the first time an Ethiopian real estate company completed a large project on time.
+215-114-667-213, +251-114-160-298, +251-938-158-143
Gift Real Estate in Ethiopia
Gift Trading, Gift Construction, GNM Industries, Gift Building Materials, Gift Nails Manufacturing Plc., Gift Property Management Plc., and, of course, Gift Real Estate Plc. make up the Gift Business Group, which was established in 2004.
Gift Real Estate has been constructing houses in Ethiopia for a little less than a decade and has gained a reputation as one of the best. Gift Real Estate Plc. is planning to grow in East Africa as a result of its success in constructing homes that meet and exceed people’s standards.
Their ownership of manufacturing industries that cater to the construction of homes and buildings has allowed them to pass on the lower costs of sourcing materials to their consumers, resulting in industry-standard prices.
J.H. Simex Real Estate in Ethiopia
J.H. Simex Real Estate, a sister company of Intercontinental Addis Hotel and J.H. Simex Tour and Travel, was established in 2008 with an initial investment of more than half a billion birrs to develop real estate.
As part of its founding mission, it has been constructing architecturally beautiful multi-story buildings, villas, townhouses, and apartments that can accommodate today’s changing lifestyles, the alarmingly rising human living impression, the highest quality of life, and the most luxurious living experience possible in this exciting world.
It is a system-based, imaginative, inventive, and people-oriented company that provides its employees with individual opportunities, personal satisfaction, and rewarding challenges. It prioritizes patience, clarity of understanding, and experience, and ensures that customers are fully satisfied. It is the ideal option for those looking for a luxurious home in Ethiopia’s capital who want to experience the taste of modern living.
Enyi Real Estate in Ethiopia
Enyi Real Estate was established in 2005 and has been involved in the construction and distribution of luxury homes and apartments since then. They have so far completed the immaculate Roseland Luxury Homes on Jimma Road using the technical help of their respectable and productive subsidiary companies such as Enyi Design, Finfine Furniture Factory, Enyi Ethio Rose, Unicorn Plc., Ethio Cement, and Rainbow Paint.
Can foreigners buy property in Ethiopia?
No. Only foreigners own land in Ethiopia in freehold., only Ethiopian Citizens own land in freehold. Therefore, to buy property in Ethiopia you need to have Ethiopian citizenship, or must be a foreign national with a local origin, or A foreigner buying land as an investor, under companies’ name.
As a foreigner, to become an investor you need to deposit an amount of $100,000 in a bank, and partner with an Ethiopian investor.
How much does it cost to build a house in Ethiopia?
The cost to build a house or own real estate in Ethiopia is increasing every year. Due to constant increase of cost or raw materials and labour force, and inflation, the cost of owning a house is above the capacity of the majority residents.
Owning an apartment building, including condominiums built by a public fund, costs anywhere from $10000 to 100000. Individual plots are way more expensive and could cost up to 10 times the condominium price.
How much is rent in Ethiopia?
Rent in Ethiopia is a tricky business. Rents for foreigners are probably higher than rent for the locals. However, you need to find a place based on your budget. First, rent in places away from the center of the city is less expensive. However, traffic and petrol cost may compensate the money you saved by not staying in the center.
In Addis Ababa, you may find rent, if you plan to stay for long, from $200 per month. You may need to pay three months rent at the beginning, and pay monthly for the rest of the months. If you plan to leave before your contract period, you need to inform the owners , therefore they would find another renter so that they return your money.
However, there are places, with good space, neat housing, 3 bed room, large compound, internet and much more for up to $2000.
Is Ethiopia a good place to live?
It depends on how much you are willing to spend. If you plan to live frugally, addis ababa may not to be a good choice to live. Infact, the daily life is hard for the locals as well. If you plan to take a local minibus instead of private vehicle or private taxi, then you will have a hard time.
Where would you plan to stay? Where would you work, and how close is your house? Do you have a driver or do you drive your self? All these factors determine how good is Ethiopia to live in.
Besides this, Ethiopian cities are relatively peaceful for foreigners, well unless you carry a large amount of cash on the streets in the middle of the night, and have a diverse lifestyle to offer.
What is the average cost of living in Ethiopia?
The average cost of living in Ethiopia differs based on where do you live and how much you are able to afford. You can live on $10 per day by dining in average restaurants or you can spend $100 by choosing on the luxury end, based on the local standard.
Here is the average cost of living in Ethiopia.