By Our Reporter
The Minister of Lands, Housing and Urban Development, Judith Nabakooba has asked Uganda’s real estate industry players to provide solutions towards the housing needs of low income earners to bridge Uganda’s housing deficit.
Uganda has a deficit of more than 8 million housing units and Nabakooba said government was interested to partner with different several stakeholders in the housing sector – including real estate developers to fill the gap .
Nabakooba was speaking at the launching of Buildnet’s Olive Homes Apartments in Naalya .The Minister said that key players in the real estate industry must work together to extend opportunities to all Ugandans regardless of their incomes to have decent housing .
“Everyone wants to have a good house and an affordable house, everyone wants to live in a well-planned and safe environment. Working together with private investors like Buildnet, I am sure that we will be able to solve the challenge of housing shortages,” Nabakooba stated .
The minister said Buildnet is one of those companies that are defining Uganda’s real estate industry and the ministry value the role played by the real estate industry to provide decent accommodation for millions of Ugandans .
“I therefore must commend the work and investment undertaken by Buildnet towards solving Uganda’s housing shortages . As government, we are doing our best to ensure that the real estate industry thrives.
Government has already put in place all the relevant policy and legal frameworks including the National Land use Policy, 2009; National Land Policy, 2013; National Housing Policy, 2018; and the National Urban Policy, 2016 for the proper growth of the housing industry .
Nabakooba further explained that government through her ministry is working with other line ministries to support the real estate industry by putting place well planed related services such as as good roads, security, access to water and power.
“My Ministry is also working to streamline land purchase and verification processes by taking all the processes online. The online processes will help to eliminate fraud that had become rampant in this industry.”
The minister said that much as Uganda is now enjoying the best real estate environment in the region and the entire Africa, there are a few things she recommends in order for the industry to realise its best potential.
“Strengthening self-regulation and management as an industry. As a key sector, you have so many individual players like brokers, investors. The industry must be able to have basic professional code of conduct.”
The industry should have system that stipulates punishment for those who go against the professional code of conduct. Members of the public must be in position to know where to report in case a real estate agent fails to provide the agreed upon services. The real estate industry needs to win the trust of the public in order for it to realise its best possible outcomes.”
In his remarks, Dr Ibrahim Ssemaganda, the Executive Director Buildnet thanked the minister for putting in place enabling policies that allow private players in the real estate industry to create change. He said that the quality of their products and finishing projects in stipulated timelines is what defines their construction operations.
“We do not just simply put a roof to your head but we ensure that our apartments are built to the required quality. We pay attention to detail to build lasting structures,” he said. Dr Ssemaganda added that as buildnet, they believe in quality with long time value.
“Today we have handed over 24 apartments (17 with one bedroom and seven with two bedrooms. We started construction in August last year and ended in October 2022. We are yet to hand over another 120 apartments, Najjera Heights and Raven apartments.”
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