Real state in Ethiopia is one of the most profitable, high in demand sectors. The sector majorly resides in Addis Ababa, one of the top fastest growing cities in Africa, which makes the city the right destination for real estate companies in Ethiopia to invest in to build luxury homes.
Real estate sector has been one of the fastest growing sectors of the Ethiopian economy and its contributing a large sum to the nations GDP. Metropolitan Real Estate is proud to be part of this growth story which is contributing to the nation’s economic development
Currently, there are around 630 real estate investments across the country with a total investment capital of 3.5 billion birr. According to data from Ethiopian Investment Commission, since 2015, close to 117 companies took an investment license to invest on 56 different real estate projects. From 117, 99 percent of them are owned by Ethiopians or in joint venture with foreign investors. Some were still fully owned by foreigners.
The primary destination of the real estate industry in Ethiopia, of course, is Addis Ababa. Out of the existing 56 real estate projects to date, 43 are located in Addis Ababa. The fuel for real estate in Addis Ababa, has been and will always be the enormous housing demand which seems to be ever growing.
Why is Addis a perfect spot for real estate development
Demographics- There is a tremendous migration to Addis Ababa from all over Ethiopia. People keep migrating to Addis in the hopes of making a better living. This benefits real estate in Addis Ababa, as more and more people look for property for sale or rent.
Capital of Africa – as we all know, Addis Ababa is the capital of Africa. For this very reason, lots of people come to Addis.
These companies operating in Addis Ababa focus on building houses to the upper and upper middle class. Metropolitan Real Estate, an American company, is among those companies who joined the industry recently.
Metropolitan Real Estate PLC is very much proud of its contribution to this sector. Metropolitan has been operating in the areas of real estate development, industrial plants, shopping mall projects and especially, luxury real estate and residence projects all over the world for many years, And expanded to Addis Ababa after realizing that Luxury real estate in Ethiopia is much needed.
Metropolitan’s brand new house for sale in Addis Ababa located around a well-established neighborhood at Bole, is a home of luxury with its spectacular design.