Affordable Housing Investment Opportunities in Uganda | Mbvoni
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Uganda

HOUSING IN UGANDA

Research from the Ministry of Lands, Housing and Urban Development show striking figures when it comes to the housing deficit in Uganda. The Chairperson of the National Planning Authority, Kisamba Mugerwa, revealed during a presentation of his paper that Uganda has a housing deficit of a staggering 8,000,000 units. This deficit includes 2.3 million units in urban centres.

According to the Centre for Affordable Housing Finance (CAHF), the cheapest newly built house costs US$30,000 for a 120m2 unit. Despite cement prices sitting lower than the continental average (US$9.12), building costs are somewhat higher than other countries on the continent, and this is in part down to the inclusion of infrastructure costs being included in the property development itself. This inclusion is thought to contribute between 15 and 25% of the overall purchase price.

WHY INVEST IN UGANDA?

  • There are a number of housing projects in various stages taking place across Uganda, with each one aiming to provide a significant number of low-cost homes. The first 100 housing units from Nakawa-Naguru have been created, and the overall aim of creating 1,000 units is within reach. This project is funded by Opec Prime Properties Uganda Ltd, which is a UK subsidiary of Comer Group in conjunction with the Ugandan Government. It is estimated that the project will cost UGX4 trillion, which is the equivalent of US$100m.
  • The projects propose four different types of housing: one bedroom, two bedroom (56m2 in size), two bedroom (70m2) and a 3 bedroom house. The one-bedroom houses are estimated to cost UGX 84 million, the two bedroom houses UGX 131 million and UGX 164 million respectively, with the three bed house estimated to cost UGX 200 million.
  • As you can see, there is great interest in contributing to affordable housing for low-income earners in Uganda, and providing investment for such valuable projects is both profitable and helpful in equal measure.

INVEST IN SOMETHING GREAT

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