One of the foremost real estate developers from the United Arab Emirates (UAE) has initiated a multi-billion partnership with Uganda’s National Housing and Construction Company. Andrea Nucera, the managing director of Reportage Properties, a leading UAE-based real estate firm, has joined forces with National Housing to construct 200 residential and commercial units in Kampala, Uganda’s capital.
The project, valued at approximately sh116.3 billion ($30 million), will be situated on National Housing land at Bukoto White Flats along Old Kira Road in Kampala. It aims to introduce modern amenities such as play areas and swimming facilities, enhancing the area’s appeal and functionality.
Nucera has committed to investing up to $25 million, covering the majority of the project’s cost, and has urged National Housing to promptly commence the project, citing readily available funds for the initial investment. Additionally, he has pledged sh4.6 billion ($1.2 million) to finance preliminary activities such as design, studies, and approvals before construction commences.
Reportage Properties already has ongoing projects in Kampala, with plans to invest approximately sh135.5 billion ($35 million) in the first phase of its total investment in Uganda. This figure is expected to increase significantly in the second phase, reaching sh414.3 billion ($107 million), demonstrating the company’s commitment to the country’s real estate sector.
The collaboration with National Housing underscores Reportage Properties’ strategic expansion into the Ugandan market, with a focus on delivering modern and affordable housing solutions. Eng. Kenneth Kaijuka, CEO of National Housing, emphasized the project’s ‘mixed-use’ nature, combining commercial facilities on the ground and first floors with residential units on higher levels.
Eng. Kaijuka highlighted the importance of collaboration in addressing Uganda’s housing needs, affirming National Housing’s commitment to delivering quality housing solutions in partnership with investors like Reportage Properties. He reassured potential buyers of the project’s affordability and encouraged early bookings to expedite the acquisition process.
Silvester Wanjusi Wasieba, chairperson of National Housing’s board, expressed confidence in the partnership, affirming the board’s support for the project. Ambassador Henry Mayega, Uganda’s Consul General to Dubai, lauded Reportage Properties’ investment in Uganda and expressed optimism about future collaborations.
Derrick Mutegyeki, National Housing’s deputy CEO, reassured investors about the untapped potential of Uganda’s real estate market, highlighting ample opportunities for multiple projects to meet the growing demand for affordable housing.
