Short Title The proclamation is formally cited as the Real Estate Development and Real Property Marketing and Valuation Proclamation No. 1357/2024.
Issuing Organ The proclamation was issued by the House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia. It was signed into law by Taye Atske Selassie, the President of the Federal Democratic Republic of Ethiopia.
Effective Date This law entered into force on March 31, 2025, which corresponds to the date of its publication in the Federal Negarit Gazette.
Implementing and Accountable Bodies The Ministry of Urban and Infrastructure is the federal organ responsible for developing the national system and overseeing performance. Additionally, appropriate federal, state, or city government bodies within the urban and infrastructure sector are empowered to carry out and oversee the specific activities regulated by the proclamation.
Purpose and Scope The primary objectives of the proclamation are to align property valuation with current market values, promote real estate investment to address housing supply challenges, and establish a consistent legal framework for property marketing and transactions. The proclamation applies to all real estate development and real property marketing and valuation activities conducted in Ethiopia.
Transitional Provisions Developers involved in projects that were active before the proclamation’s issuance and are expected to last more than one year must register according to the new requirements within six months. Furthermore, real property transactions and valuations initiated under previous laws are permitted to continue for only three months following the effective date of this proclamation.