Housing project by one of Uganda’s real estate firms, Kakungulu Housing Estate. PHOTO | FILE
Prominent commercial buildings are losing tenants to new developers. New developers are discounting their rates in order to secure badly needed revenue streams necessary for repaying bank loans and avoiding seizure of assets due to defaulting.
Improved roads and increased commercial farming activity in strategic neighbouring areas of Kampala are also likely to spur substantial growth in new housing projects.
The sharp rise in demand for low-cost housing and strong uptake of new low-cost housing projects are projected to continue in the coming year.