The Performance of Private Residential Real Estate Developers in Ethiopia: The Case of Addis Ababa

Abstract

The issue of providing adequate housing to the general public is critical in both developed and developing nations. This requires  continuous monitoring of performance in the provision of housing as a fundamental approach to enhance efficiency and establish a  strategic framework for achieving better productivity. This study focuses on the performance evaluation of real estate firms in Addis  Ababa and identifies the obstacles encountered that would influence their construction operations and management. The primary goal  of this research is to introduce the concept of project performance, identify the factors influencing performance and propose strategies  for enhancing performance in real estate firms. The qualitative research methodology employed involved non-random sampling. The methodology involved preliminary investigation and a pilot study, to refine and explore the research areas. Through the data analysis  process; the study underscored the significance of focusing on customer satisfaction, cost overruns and other financial aspects when  considering performance metrics. Furthermore, among the factors impacting performance; material price fluctuations, exchange rate  variations and construction material shortages ranked highest in their order of appearance. The study's findings culminate in essential recommendations for improvement strategies. In conclusion, it emphasizes the necessity of a  collaborative effort among all stakeholders  to notably elevate the real estate sector.