15 of The Best Real Estate Companies and Developers in Ethiopia 2021 - allaboutETHIO

7/27/2021 15 of the Best Real Estate Companies and Developers in Ethiopia 2021 — allaboutETHIO
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15 of the Best Real Estate Companies and

Developers in Ethiopia 2021

MUST KNOW
Some of the Best Real Estate Companies and Developers In

Ethiopia
Today, the Ethiopian Real Estate market is hotter than ever, especially after the new reforms being introduced in every sector
of Ethiopian society.
These reforms have reignited the real estate market in Ethiopia due to the ever growing demand for homes from both the
local population and the Ethiopian diasporas.
Be that as it may, when it comes to investing one's life savings for a home, several factors come to the forefront.
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For example, it is not a new phenomenon that Ethiopian real estate commpanies and developers have bad reputations for not
delivering on time and for cost manipulation.

While some factors could not be controlled by the developers, it still remains that some untrustworthy souls looking only to
enrich themselves at the hands of innocent home buyers have run rampant in the sector.
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In order to help people choose the right Ethiopian real estate developer, we have created a list we believe to be of some of
the best in the industry.
1. Ayat Real Estate Apartments, Houses, Commercial Properties
Ayat Real Estate is a share holder's company that was created in 1997 and is one of the pioneering Ethiopian companies in
this sector.
They have managed to complete over 5,000 residential units, making them one of the most experienced in this sector.
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Ayat Real Estate is indeed the largest construction company focused only on residential homes in Ethiopia.
They had a bumpy beginning when they were first building and selling the Ayat Real Estate villa houses in the Ayat area, with
rumors of low quality building materials being spread.
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Today, the Ayat villas which once sold for about 375,000 ETB are now being sold in excess of 20,000,000 ETB.
Furthermore, in order to pass on the savings to its clients, Ayat Real Estate has bought and built factories for the purpose of
producing the building materials they need, such as terrazzo tiles, concrete hollow blocks, marbles, prefabricated slabs, septic
tanks, metal doors/windows, wooden doors/cabinets, and more.
At the moment, one of their largest projects is in the Ayat area of Addis Ababa with numerous apartment buildings being
built and sold.
Their prices are also considered relatively fair.
Contact
Office Address: 22 Mazoria, Baro Building in front of Meklit Building, 6th Floor,Office #4, Addis Ababa, Ethiopia
Telephone/Mobile: +251 911 619492 / +251 912 420444 / +251 11 8593410
Email: info@ethiorealestate.net
Ayat Real Estate Website: https://ethiorealestate.net
2. Tsehay Real Estate Apartments, Commercial Properties
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Tsehay Real Estate Plc. became established in 2011 by China Geology Corporation Overseas Construction Group Ltd.

(CGCOC) and Red Fox International Business.

These companies would then contract Qian Tang Construction Plc. to build the complex, which began in 2013.
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Tsehay Real Estate is the first Chinese real estate company in Ethiopia and the Poli Lotus International Center was created
with the purpose of developing a new standard of living on a 30,000 sq.meter plot of land located in an important part of
the city.
The project includes high level office buildings, highly rated restaurants, a shopping mall with cinema, luxurious apartments,
sports and gym venues, playgrounds, and underground parking.
Built at the cost of 3 billion ETB, the 13 buildings have 12 floors with only two units per floor.
The complex has a property management company setup which handles security, cleaning, gardening, maintenance, etc.
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Technology allocated to the buildings include, intercom with video systems in each apartment, perimeter security and
protection through CCTV cameras and uniformed guards at every entrance.
Water and electricity supply are setup within the compound, which means there is 24 hour supply of both.
Each building has multiple types of units, ranging from 2 bedroom units of 140 square meters to 5 bedroom penthouses of 275
square meters. All 13 buildings will have 646 units, 300 of which are 2 bedroom, 1 master bedroom, and 1 guest room of 144
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square meters.

Each unit will have access to parking area for one car (additional cost for more parking), and ground level units will have

gardens, while those above will have terraces.

Buyers will be required to make a down payment of 70% for the units they want to purchase, with prices beginning at 1,100

USD per square meter; the price will increase for units higher on the buildings.
Please contact the company for updated prices.
Contact

Main Office Address: Yeka Sub City, Addis Ababa

Telephone/Mobile: +251-933-007388 / +251-933-007399
Email: info@tsehayrealities.com
Official Website: https://tsehayrealities.com
3. Noah Real Estate Plc. Apartments, Houses, Commercial Properties
Noah Real Estate Plc. was established in 2012 and it is the sister company to Great Abyssinia Plc. which brought several well
received products to the Ethiopian market, such as, Abyssinia Coffee, Prigat Juice, Tulip, Aby Soda, Abyssinia Springs bottled
water, products made with Nestle, etc.
Noah Real Estate is hoping to transfer the company's good name towards the often unreliable real estate market in Ethiopia.
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The company has sites in fourteen different locations and has delivered 3,600 apartments, houses, and commercial properties
to their clients so far.

Recently, Noah Real Estate built and finished 7 floored residential complexes known as Noah East Gate Apartments.
The units have 2 and 3 bedrooms ranging from 86 square meters to 172 square meters, and their prices range from
2,000,000 ETB to 4,000,000 ETB.
The Noah East Gate Apartments are located in an important part of the city, called CMC and the apartments will have
waste management systems, water tanks, and generators.

Payment for the apartments are done in 4 installments, starting with a down payment of 30% when the residence is 50%
complete and ending with the last 15% payment upon transfer of title.
Noah Real Estate is also delivering about 454 homes around the Summit, Ayat and Bole areas of Addis Ababa, all of which
are prize real estate areas.
Contact
Main Office Address: Abyssinia Plaza 12th floor in Bole, Next to Bole Medhanialem Church
Telephone/Mobile: +251-11-869-9775 / +251-94-811-1111 / +251-94-911-1111
Email: info@noharealestateplc.com
Official Website: http://noahrealestateplc.com/
4. Metropolitan Real Estate Ethiopia Apartments, Commercial Properties
Metropolitan Real Estate is an American organization that has business dealings in the US and Turkey. As of 2008, they
decided to enter into the Ethiopian real estate market.
Metropolitan is mainly focused on the luxury living market, with their apartments located in prime real estate areas such as
Sarbet and Bole.
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Their first major residential project in Ethiopia was Metropolitan Sarbet Gabriel Apartment designed with a modern
European luxury look.

This luxury apartment developer is currently selling Bole Tower Apartments, Bole Midtown Apartments, Metropolitan Westview

Apartments, and the above mentioned Metropolitan Sarbet Gabriel Apartments.
Metropolitan Real Estate luxury apartments come with 24/7 uninterrupted electricity, security, large water tanks, high end
elevators, and large parking spaces.
Facilities include a fitness center, club house, and common terrace.
Contact
Main Office Address: Bole, Next to the Ukrainian Embassy, in the area of Friendship Hotel, Addis Ababa, Ethiopia
Telephone/Mobile: +251-973-30-30-30 / +251-984-05-05-05 / +251- 11-667-3192
Email: info@metropolitanaddis.com
Official Website: http://www.metropolitanaddis.com
5. Flintstone Homes Apartments, Houses, Commercial Properties
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Flintstone Homes is considered to be one of the most reliable real estate developers in Ethiopia.

Tsedeke Yihune, the CEO and founder began with Flinstone Engineering in 1991 and later created Flintstone Homes in 2008.

Flintstone Homes' first major real estate project was called Twin Crossings and it had 40 villa houses, 60 townhouses, and 450
condominiums.
They completed this massive project within a year, and it became the first time that an Ethiopian real estate company finished
a huge project on time.
Currently, the company has many finished projects that are currently for sale. Prices begin from 20,000 ETB per square meter.
An apartment in Megenagna for example costs about 2,545,000 ETB.
Contact
Office Address: Wollo Sefer, Ambasel Building, 8th floor / Bole Medhanialem, in front of Kebe Pastry / Lideta, Lideta
Merkato, Ground Floor
Telephone/Mobile: +251-114-66-72-13 / +251-114-16-02-98 / +251-933-00-73-99 / +251-910-90-31-31/2
Email: flintstonehomes@gmail.com
Official Website: https://www.flintstonehomes.com
6. Sunshine Investment Group Apartments, Houses, Commercial Properties
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Sunshine Investment Group is without a doubt one of the most popular real estate companies in Ethiopia.
When thinking about real estate in Ethiopia, the name Sunshine will always come up and this is all for a good reason.
The founder and president of Sunshine Investment Group is Samuel Tafese, who has over 33 years experience in the
construction sector.
His hard work, strong ethics and efficiency has enabled him to build 984 kilometers of road projects, 427 villa houses, and
3,254 apartments throughout Ethiopia.
With a track record such as this one can understand why this company is considered one of the best real estate companies in
Ethiopia.
Sunshine has received the International Diamond Award on Quality in 2016, the Century International Quality ERA in 2014,
and the International Quality Summit in 2012.
Currently, Sunshine Investment Group is working on a major residential project known as the CMC and Bole Beshale Real
Estate Project.
These homes are found in the Bole Sub City, the CMC project is on a 138,500 square meters plot while the Bole is on a
100,000 square meter plot.
There are 280 apartments, 22 villa houses on 250 square meter plots, 43 villa houses and 33 apartments, and 175 square
meter villa houses.
Each of these are under different phases of construction and delivery.
Contact
Main Office Address: Sunshine Building Ethiopia, Africa Avenue, Addis Ababa, Ethiopia, P.O. Box 107
Telephone/Mobile: +251-115-513289
Fax: +251-115-512444
Email: info@sunsineinvestmentgroup.net
Official Website: https://www.sunshineinvestmentgroup.net
7. Gift Real Estate Apartments, Houses
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Gift Business Group, established in 2004, is made up of Gift Trading, Gift Construction, GNM Industries, Gift Building
Materials, Gift Nails Manufacturing Plc., Gift Property Management Plc., and of course, Gift Real Estate Plc.
Gift Real Estate has been building houses for a little less than a decade in Ethiopia and has built up a reputation that has
made it vital to appear in this list.
Due to their success at building homes that satisfied and surpassed the people's expectations, Gift Real Estate Plc. is now
planning to expand throughout East Africa.
Their ownership of manufacturing industries targeting the construction of homes and buildings has helped them pass down the
reduced cost of sourcing materials on to their clients, thereby providing costs that are considered fair in the industry.
Both their location sites are in the CMC area, which is currently booming and a hotspot for new home owners looking for a
place away from the bustling center of the city.
Gift Real Estates delivery time is also considered exceptional, as they only require a year and a half to build homes and two
years for apartments.
The availability of beautiful scenery is a plus as the homes are located on elevated surfaces providing the home owners with a
vista view.
Green areas, playgrounds, shopping venues and common parking provide more perks for their clients.
Contact
Main Office Address: Sierra Leone Street, Beklo Bete in front of (CBE) Temanja Yaji Bank Branch, Alemu W/Tsadik Building,
1st Floor, Room #7
Telephone/Mobile: +251-114-67-06-69 / +251-115-51-49-39
Fax: +251-1114-67-19-73 / +251-114-65-21-54
Official Website: https://giftrealestate.com
8. Habitat New Flower Homes Houses, Commercial Properties

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Habitat New Flower Homes Plc. was established in 1999, by Engineer Berhane Abate and Engineer Tadesse Haile Selassie,
who are the founders of Berta Construction which was created in the late 1960's.
Berta Construction is a behemoth when it comes to the construction sector in not only Ethiopia, but in Kenya also.
The company has built bridges, roads, dams, factories, buildings, as well as 4 luxury hotels.
The founders were also praised by the Prime Minister of Ethiopia and also received the Outstanding Chief Executive Award.
Using their well established accreditation, Berta Construction launched Habitat New Flower Homes along with factories that
will support its operations, such as, a marble factory, a roof tile factory, wood and metal workshops and a concrete pre-
fabrication plant.
For the time being, Habitat New Flower Homes is building luxury homes in prime locations, but envisions tackling the housing
shortage by building low cost affordable homes in the near future.
Contact
Main Office Address: 5613 Addis Ababa, Ethiopia
Telephone/Mobile: +251-115-51-52-19 / +251-911-21-61-40 / +251-111-15-24-39
Fax: +251-115-51-48-33
Email: habitatnfh@yahoo.com
Official Website: http://www.habitatnewflowerhomes.com
9. Enyi Real Estate Apartments, Houses
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Enyi Real Estate was established in 2005 has since been engaged in the building and delivery of luxury homes and
apartments.

Using the technical backup of their respectable and efficient subsidiary companies such as Enyi Construction, Finfine Furniture

Factory, Enyi Ethio Rose, Unicorn Plc., Ethio Cement and Rainbow Paint, they have managed to so far complete the
immaculate Roseland Luxury Homes on Jimma Road.
Their current work includes the Bole Palm Housing Development Project which is four kilometers away from Bole Michael

Square and a short seven minutes away from Bole Road.
Contact
Main Office Address: Piazza 3F Building, 6th Floor, Addis Ababa, Ethiopia
Telephone/Mobile: +251-919-31-42-42
Email: info@enyirealestate.com
Official Website: http://enyirealestate.com
10. Legacy Real Estate Apartments
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An attractive offer from Legacy Real Estate includes their bank financing options for the Ethiopian diaspora paying in foreign
currency.
Currently, Legacy Real Estate has completed the Legacy Apartments which are truly luxurious with many features available
for the homeowner.
Some of the features include: fire alarms/smoke detectors, full fire protection system, 24 hour CCTV security systems, entrance
security, centralized satellite TV system, telephone and internet systems, mechanical ventilation systems, intercom systems, fully
equipped gyms, laundry service, and private parking areas.
Contact
Main Office Address: Wello Sefer, across from Ibex Hotel, and close to the Saudi Embassy, Addis Ababa, Ethiopia
Telephone/Mobile: +251-967-46-46-46 / +251-967-08-08-08 / +251-901-32-22-22 / +251-902-32-22-22
Official Website: https://legacyethiopia.com
11. Evergrand Real Estate Apartments, Commercial Properties
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Evergrand Real Estate Plc. was established in 2013 as a researcher, building material supplier, manufacturer, and developer.
They have helped build massive projects such as the Tsehay Real Estate Project.
In 2014, Evergrand established their own real estate development company and has already completed their signature project
called the Sky Apartments.
They are currently working on several luxury apartments located throughout the city in prime locations, such as Kasanchis.
Considering their location, Evergrand Real Estate's luxury apartments are also considered affordable, with a base price of
about 110,000 USD or about 2,970,000 USD.
Contact
Main Office Address: Bole
Telephone/Mobile: +251-909-78-70-40 / +251-912-36-71-63
Official Website: http://evergrandethiopia.com
12. Yotek Real Estate Apartments, Houses
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Yotek Real Estate which is a subsidiary of Yotek Construction Plc. was created in 1998 by Yohannes Teklay.
The company has undertaken various massive projects such as the construction of buildings, roads, factories, and bridges.
Yotek has completed different projects worth over 9,000,000,000 ETB and is at the moment hard at work building a project
worth 4,500,000,000 ETB.
With over 5,500 employees working for Yotek, they are well positioned to handle any real estate jobs demanded of them.
The types of houses they are offering at the moment are villas of 250-300 square meters, G+1 and G+2, townhouses and
apartments.
Their real estate areas offer the following facilities: tennis courts, basketball courts, commercial center, green areas, gym,
sauna, steam bath, etc.
Contact
Main Office Address: Yotek Construction Headquarters, in front of African Union, Addis Ababa, Ethiopia
Telephone/Mobile: +251-115-57-31-96/98
Fax: +251-115-57-31-87/97
Official Website: http://www.yotekcon.com
13. Pluto Real Estate Apartments, Houses
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Pluto Real Estate is building their flagship project called the CMC Residential Project on the CMC road close to ALTAD,
which is a location that offers great access to schools, hospitals, supermarkets, shopping malls, and even the new light railway
station.
An aspect that sets their project aside from the others is that Pluto Real Estate claims to offer "not just an apartment" but an
area with more than 6,000 square meters of pedestrian friendly gardens and green areas.
Contact
Main Office Address: 5th floor in Snap Plaza Building on Bole/Airport road
Telephone/Mobile: +251-116-67-34-10 / +251-940-68-68-68 / +251 940-69-69-69
Fax: +251-116-67-34-15
Official Website: http://www.plutoestates.com
14. Hassenias Real Estate Houses
Hassenias Real Estate is a relatively newcomer to the Ethiopian real estate development market but it has been lauded for
their beautifully designed villa houses that they build.
They offer plot sizes of up to 500 square meters for villa houses that can be G+1 or G+2.
Prices for this type of house ranges in the 5,000,000 ETB to 6,500,000 ETB depending on if the client wants Hassenias Real
Estate to undertake the finishing work or not.

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Contact
Main Office Address: Wello Sefer, Ethio China Friendship Avenue, Medina Tower 4th floor, room #406/7, Addis Ababa,

Ethiopia
Email: info@hasseniarealestate.com
Official Website: http://www.hasseniasrealestate.com
15. Nova Real Estate Apartments, Houses
Nova Real Estate is another relatively newcomer to the Ethiopian real estate sector but has gained some popularity due to
their focus on luxury villa houses and apartments.
Contact
Main Office Address: Welo Sefer, Ethio-China Friendship Avenue, Fetle Building, 1st floor
Fax: +251-114-70-02-95
Email: info@novarealestate-et.com
Sales Representative Office: Bole Medhanialem, Gulf Aziz Building, room number 120, Vinta Trading Plc.
Telephone/Mobile: +251-911-67-35-49
Fax: +251-114-70-02-95
Email: sales@novarealestate-et.com
Official Website: http://www.novarealestate-et.com
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7/27/2021 15 of the Best Real Estate Companies and Developers in Ethiopia 2021 — allaboutETHIO

15 of the Best Real Estate Companies and

Developers in Ethiopia 2021

Some of the Best Real Estate Companies and Developers In

local population and the Ethiopian diasporas.

delivering on time and for cost manipulation.

Messaging, Tasks, Calls &

Collaborate easily no matter how big the

meeting. Invite up to 500 people. Learn

Avaya Spaces Sign Up

the best in the industry.

1. Ayat Real Estate Apartments, Houses, Commercial Properties

rumors of low quality building materials being spread.

MIT Entrepreneurship Bootcamp

about creating impact.

MIT Online Bootcamp Open

tanks, metal doors/windows, wooden doors/cabinets, and more.

built and sold.

Their prices are also considered relatively fair.

Telephone/Mobile: +251 911 619492 / +251 912 420444 / +251 11 8593410

Ayat Real Estate Website: https://ethiorealestate.net

2. Tsehay Real Estate Apartments, Commercial Properties

(CGCOC) and Red Fox International Business.

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Backpack, Shoulder… Wholesale New Printed…

Manufacturer Casual… Computer USB Charging…

sports and gym venues, playgrounds, and underground parking.

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about creating impact.

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protection through CCTV cameras and uniformed guards at every entrance.

gardens, while those above will have terraces.

Please contact the company for updated prices.

Main Office Address: Yeka Sub City, Addis Ababa

Telephone/Mobile: +251-933-007388 / +251-933-007399

Official Website: https://tsehayrealities.com

3. Noah Real Estate Plc. Apartments, Houses, Commercial Properties

water, products made with Nestle, etc.

to their clients so far.

2,000,000 ETB to 4,000,000 ETB.

waste management systems, water tanks, and generators.

are prize real estate areas.

Telephone/Mobile: +251-11-869-9775 / +251-94-811-1111 / +251-94-911-1111

Official Website: http://noahrealestateplc.com/

4. Metropolitan Real Estate Ethiopia Apartments, Commercial Properties

decided to enter into the Ethiopian real estate market.

Sarbet and Bole.

matter how big the

500 people. Learn

Avaya Spaces More.

European luxury look.

Apartments, and the above mentioned Metropolitan Sarbet Gabriel Apartments.

elevators, and large parking spaces.

Facilities include a fitness center, club house, and common terrace.

Telephone/Mobile: +251-973-30-30-30 / +251-984-05-05-05 / +251- 11-667-3192

Official Website: http://www.metropolitanaddis.com

5. Flintstone Homes Apartments, Houses, Commercial Properties

a huge project on time.

An apartment in Megenagna for example costs about 2,545,000 ETB.

Merkato, Ground Floor

Telephone/Mobile: +251-114-66-72-13 / +251-114-16-02-98 / +251-933-00-73-99 / +251-910-90-31-31/2

Official Website: https://www.flintstonehomes.com

6. Sunshine Investment Group Apartments, Houses, Commercial Properties