THE PERFORMANCE OF PRIVATE RESIDENTIAL REAL ESTATE DEVELOPERS IN ETHIOPIA: THE CASE OF ADDIS ABABA

Abstract

The issue of providing adequate housing tothe 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.