The aim of this study is to identify the main factors affecting the performance of 2080 condominium housing project on Addis Ababa city Administration Bole Arabsa site. The study adopts explanatory research design with quantitative method. The study considered the total population of 179 respondents in Bole Arabse project. These respondents were selected using census method. Primary data was collected through questionnaire The questionnaires were analyzed using descriptive statistics, correlation and regression with the support of statistical software program namely Statistical Package for Social Science (SPSS version 21) for analyses and summarization purposes. The findings of the study shows that project procedure are the dominant factors that affect performance. Whereas project characteristics and project management action has the next dominant factors.rnThe Correlation results indicate that Project characteristics and project procedure had strong relationship with project performance and also project management action had a moderate relationship. And also the Regression analysis implies the independent variable explain 65 % of the variation of the dependent variable (project performance).The multiple correlation coefficients(r), with a value of 0.806, represent the correlation ratio indicating the existence of link between project performance and its main factors. So the stakeholders of the project (owners, conductorâ€˜s consultants) should implement proper planning, evaluating, monitoring, upgrading of manpower skills and avoid delay of payment to solve low performance of the project.rnKey word: Project Characteristics, Project Management action, Project Procedure, Project Performance