News
News about Ethiopian real estate developers, their projects and their delivery records.
Other topics:MarketLaw and policyMortgage and financeHousing programsInvestmentTaxLand
· FurtherAfrica
The Ethiopian Army Foundation and UAE-based Reportage Properties launched a mixed-use housing development in Addis Ababa. The project covers 23,000 square metres and includes two residential towers with 1,086 apartments. It also includes about 15,000 square metres of commercial space, recreational facilities and landscaped green areas.
· The Reporter Ethiopia
Housing remains a critical challenge in Ethiopia. Limited access to land, finance, and decent employment has left the majority of citizens unable to afford adequate housing. With 70 percent of the population under the age of 30, the demand for housing is rising rapidly, exposing homebuyers to misconduct in a sector still short of enforceable protections.
· Capital Ethiopia
Ethiopia's state-backed property developer, the Federal Housing Corporation (FHC), has finalized all necessary preliminary preparations to launch the construction of modern residential and commercial properties in Juba, signaling its readiness to break ground on its landmark cross-border real estate venture. The project transitions into the implementation phase following the signing of a definitive operational contract in Juba.
· Addis Fortune
Harvest Circle Inc., a U.S.-based group, plans to launch the first annual U.S.-Ethiopia Real Estate and Construction Expo in July 2026. The expo aims to connect developers, builders, banks, insurers, property managers and investors from both countries. Organizers say it will promote private sector-led urban development, encourage diaspora investment and widen market access for Ethiopian firms.
· Capital Ethiopia
For years, Ethiopia's real estate sector, a multi-billion birr industry, has struggled with a lack of trust and inadequate legal frameworks. In response, the government is implementing an Escrow Account system aimed at securing home buyers' funds. This initiative is based on the recently ratified Real Estate Development and Immovable Property Marketing and Valuation Proclamation (No. 1357/2024), and seeks to restore trust and protect home buyers from exploitation by developers.
· The Reporter Ethiopia
This week saw private and state-owned developers sign contracts valued at 67 billion Birr for the construction of more than 4,100 housing units in Addis Ababa under the Chaka Housing Development Project. The venture agreement is part of a broader 72 billion birr housing initiative under a public-private partnership (PPP), officially signed on July 3, 2025, between the Ministry of Finance and various real estate companies. A statement released following the signing details that 4,175 housing units will be constructed as part of the project.
· The Reporter Magazine
Anyone who frequents Addis Ababa's bustling Bole Medhanialem neighborhood is likely familiar with the young men and women who prowl its streets, plying passersby with business cards and forms for ownership of a small piece of the city's ballooning property market.
· EBC
Ethiopia is taking a bold step towards regulating its real estate sector with a new draft law that aims to protect buyers and promote responsible development. The law proposes a licensing requirement for developers, ensuring only qualified individuals are involved. It also mandates escrow accounts for funds collected from buyers, preventing developers from misusing the money.
· Capital Ethiopia
Ovid Group has announced a significant agreement to construct and deliver 5,000 homes over the next two years in collaboration with two major institutions. This initiative aims to provide affordable, modern housing options to various stakeholders, including Ride Transport and its affiliated entities.
· The Reporter Ethiopia
Ethiopia's long-awaited real estate legislation has reached Parliament after a decade-long delay. The proposed proclamation establishes minimum development standards, including a 50-unit minimum for developer licensing and a requirement that 40 percent of units be affordable housing. The law aims to protect homebuyers through measures restricting developer access to property deeds and requiring advance payments be held in controlled accounts.
· Birr Metrics
Gift Real Estate has partnered with Addis Ababa's city administration to develop 4,000 housing units in the Le Gare area, with Mayor Adanech Abiebie inaugurating construction on April 27. The initial phase features multi-story buildings reaching 14 to 22 floors. The 4 billion Birr project includes 3,550 residential apartments and 450 commercial spaces, with the city administration receiving 30 percent of completed units to address housing shortages.
· Addis Fortune
BGI Ethiopia, the country's major beer producer, is relocating its century-old headquarters from Mexico Square to Sheger City due to city regulations prohibiting factories in central areas. The vacated 30,000-square-meter property, valued at roughly five billion Birr, is being acquired by Purpose Black Ethiopia, a two-year-old company planning a 115-story mixed-use development called Ke'Geberew Tower with an unconventional public financing model offering shareholding packages that include apartment ownership incentives.
· The Reporter Ethiopia
The Ethiopian Airlines Group plans to build 5,000 additional housing units for its staff with the OVID Group in the Bole Bulbula area. The project is part of a larger deal between the Addis Ababa City Administration and OVID to build 60,000 housing units in the capital. OVID-Kling Consult designed the buildings, which will be eight to ten storeys tall, and prices depend on unit type.
· Addis Fortune
Ethiopia's real estate market is experiencing a significant downturn, with developers facing plummeting demand for upscale apartments, particularly in Bole District. The decline stems from political uncertainty, reduced credit availability following the central bank's inflation-targeting policies, and diminished diaspora investment. Property prices dropped approximately 15 percent over six months, while the construction sector's growth rate fell from 20 percent to just 5 percent year-on-year in 2023.
· Ethio Real Estate
Ovid Group, the giant real estate company that made waves recently when it completed the construction of several buildings in 90 days is preparing to establish a mortgage bank. In an event held on January 23, 2024, the new bank named Ovid Betoch Bank was inaugurated and raised over 1B Birr in share sales. This is a welcome news for an industry starved for financing and dealing with a severe downturn, says Sofia Asefa, a real estate analyst and co-founder of this blog. According to Sofia, this could be a catalyst in re-starting the dormant real estate market.
· The Reporter Ethiopia
Addis Ababa's City Administration approved a 450 billion birr housing development by Ovid Group through a 70/30 public-private partnership model. The project will construct 60,000 units in Bole Bulbula, with the developer retaining 70 percent of units for commercial sale while transferring 30 percent to the government for low-income residents. The initiative addresses a critical shortage, as the administration has registered over one million applicants but delivered only about 200,000 units in the previous 13 years.