Abstract
This study specifically focused on real estate development and the sector’s role in fulfilling the housing demand in metropolitan areas, substantially in Addis Ababa, Ethiopia. In order to achieve the intended objectives of the study, the author employed descriptive phenomenology by considering secondary data. The extensive academic literature, policy and strategy documents, and annual reports of the National Bank of Ethiopia, as well as Central Statistics Agency publications, were analyzed in detail in order to show the practice, the historical land administration scheme of real estate, the demand and supply of housing, the private-public partnership program, as well as the investment prospects and drawbacks which hinder the well-functioning in the macroeconomy, addressed from a policy perspective as well as putting some important concluding remarks for stakeholders in the business. Whereas the practice indicated, based on the findings, the sector is still in its infancy and needs special attention and modifications on the policy and strategy side to meet the public need for housing, as most of the indicators pointed out that the approaches implemented by the governing body have already failed.
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