Addis Ababa, the capital and largest city of Ethiopia, is a booming metropolis with a high demand for housing and urban development. As the city grows, so does the number of real estate projects and developers that are focusing on apartments for different segments of the market, from luxury to affordable. Most real estate developers in Ethiopia are small-scale mom-and-pop shops, however, there are some that stand out for having done multiple projects and having been in the sector for many years.
In this blog post, we will highlight top 10 real estate projects and developers that are focusing on apartment buildings in Addis Ababa.
- La Gare – La Gare is one of the largest mixed-use developments in Ethiopia, with over 4,000 residences, a five-star hotel, a shopping mall, office towers, and a cultural center. The project is located on a historic site that used to be a railway station, and aims to create a new urban hub in the heart of Addis Ababa. The project offers various types of apartments, from studios to penthouses, with prices ranging from $1,500 to $2,500 per square meter. The project covers an area of 360,000 square meters and construction on the first tower has started. Project website: https://lagare.com/
2. Platinum Real Estate – Platinum Real Estate is one of the leading and innovative real estate companies in Ethiopia, offering a range of options for different budgets and preferences. The company was established in 2010 and has since developed several projects in Addis Ababa, such as Platinum Apartments, Skyview and Platinum Tower. Website at http://www.platinumpropertieset.com
3. Ayat Real Estate – Ayat Real Estate is a pioneering and prominent real estate company in Ethiopia, with a portfolio of over 7,000 residential units and several commercial properties. Ayat specializes in building affordable homes in gated communities, with amenities such as schools and clinics. At one point they were the largest real estate company in Ethiopia, but persistent rumours of shoddy work and delayed projects have damaged the company’s reputation. They seem to have a rebirth of some sort in recent years with the construction of the largest mall in the country. Website: http://ayatrealestate.com
4. Yaya Real Estate – Having been in business since 2007, this company has a wealth of experience in the construction of apartment buildings, hotel and resort as well as residential homes. Projects completed and underway include Millennium Apartment, Yaya Village, Top View Residence, Gerji Residence and Stadium Apartments. Its latest project is close to the new Adey Abeba stadium, a G+8 building comprising of 2 and 3-bedroom luxury apartments. Website: http://www.yayarealestate.com
5. Betopia Properties – Betopia is a real estate and property company presently engaged in developing a range of residential and commercial units using state-of-the-art design and an in-house team of experts. They are a relatively new to the sector having been established in 2016, however the list of projects they are working on look impressive and are designed for the high-end customer. Some of their projects are Afroville, New Hope, Kazadis and German Square Apartments. Website: http://www.betopiahomes.com
6. Gift Real Estate – GRE was established in 2005 and has since been engaged in the development of Residential and Commercial buildings and selling of Real Estate property. The company has delivered over 2000 apartment units and is currently planning to build another 12,000 units in the coming years. Website: http://www.giftrealestate.com.et
7. Noah Real Estate – In business since 2012, they have dozens of completed and in-progress projects throughout the city. They originally got their name as the one company that delivers their homes on time, although that promise has since been questioned due to delays on some projects. Projects include Sunrise, Convention, Centrum Apartments, City Point, Victory Apartments and Figga Apartments. Website: https://noahrealestateplc.com
8. Metropolitain Real Estate – Established in 2012 with a vision to redefine luxury living in Ethiopian homes, they offer high-end apartments in key areas of Addis Ababa such as Bole, Sarbet, CMC, etc. Projects include: Sarbet Gabriel Apartments: A four-story building with 32 units ranging from one to three bedrooms. Located near the African Union headquarters. Bole Tower: A 12-story building with 27 units ranging from two to four bedrooms. Located near Friendship Hotel. The Metropolitan Tower in front of Mamokacha café in Bole Rwanda. Metropolitan Central Tower Luxury Apartments, around AU headquarters, and the Metropolitan Residence is located around Bole Main Road, in front of the Mega Building. Website: https://metropolitanaddis.com/
9. Flintstone Homes – This is another leading real estate company in Ethiopia, established in 2008. It has completed over 1,000 residential units, including apartments, houses and villas. It also provides property management and maintenance services to its clients. One of its popular projects is the Flintstone Megenagna Apartments, a gated community that consists of four blocks of apartments with different sizes and types. The project also has a children’s playground, a basketball court, a gym and a supermarket. Website: https://www.flintstonehomes.com/
10. Evergrand real estate – Evergrand PLC is a real estate company in Ethiopia that develops and delivers high quality apartments at premium locations in Addis Ababa. It was established in 2013 as a building material researcher, developer and manufacturer, and later ventured into real estate development in 2014. Evergrand PLC has a vision to incorporate the most modern features and quality finishing in its residential projects. Some projects include Tsehay Real Estate, Sky Apartments and QApartments Tropical Garden, Bole Cameroon Embassy, and Mexico Embassy. Website: http://www.evergrandrealestate.com
This blog post was written by Asefa Belete, a real estate consultant in Addis Ababa, Ethiopia. If you are considering buying an apartment in Addis Ababa, I would be more than happy to provide you with unbiased and objective information at no cost. Email address: email@example.com