Modern houses launched in Kampala
A MULTI-BILLION luxury housing estate was yesterday opened in Kyanja, Nakawa division, on the outskirts of Kampala. The estate with 149 houses is a $25m (sh50b) project.
By Henry Mukasa
A MULTI-BILLION luxury housing estate was yesterday opened in Kyanja, Nakawa division, on the outskirts of Kampala.
The estate with 149 houses is a $25m (sh50b) project by Kensington Africa of the Mara Group.
Mara Group also owns Riley Media, Riley Packaging, Mara Technologies and Exim, with operations in Africa, Europe and the Middle East.
The housing project, sitting on 14 acres of land, was started two years ago. As the chairman of the Uganda Land Commission, Mayanja Nkangi, cut the ribbon to commission the first phase, in which 30 units were handed over to the owners.
“I like what I see. It is solid, imaginative, socially and economically significant for the economy,†Nkangi commented.
The estate has two-bed-room town-houses, costing $89,000 (sh165m); three bed-room bungalows going for $169,000 (sh314m) and storied villas at varying prices.
The project won recognition from local banks that are willing to give mortgages of 80% for a period of 15 to 20 years.
With the country facing an acute housing shortage, Kampala alone having a deficit of 600,000 houses, Nkangi asked the Kensington management to replicate the project elsewhere.
The managing director, Ashish Thakkar, said the project was intended to move the country to a new benchmark of housing. “Welcome to a new living lifestyle. This is just the beginning,†he told corporate guests at the ceremony.
“We are creating something unique and modern.†The estate, he explained, is secured with CCTV cameras and will have banking, Internet, pharmacies and recreation facilities. Baggies will be used to take residents around the estate.
The head of housing, William Waraga, said housing contributes only 2% to GDP in Uganda, while in Kenya it contributes 25% and for the Asian Tigers it reaches 50%.
A MULTI-BILLION luxury housing estate was yesterday opened in Kyanja, Nakawa division, on the outskirts of Kampala.
The estate with 149 houses is a $25m (sh50b) project by Kensington Africa of the Mara Group.
Mara Group also owns Riley Media, Riley Packaging, Mara Technologies and Exim, with operations in Africa, Europe and the Middle East.
The housing project, sitting on 14 acres of land, was started two years ago. As the chairman of the Uganda Land Commission, Mayanja Nkangi, cut the ribbon to commission the first phase, in which 30 units were handed over to the owners.
“I like what I see. It is solid, imaginative, socially and economically significant for the economy,†Nkangi commented.
The estate has two-bed-room town-houses, costing $89,000 (sh165m); three bed-room bungalows going for $169,000 (sh314m) and storied villas at varying prices.
The project won recognition from local banks that are willing to give mortgages of 80% for a period of 15 to 20 years.
With the country facing an acute housing shortage, Kampala alone having a deficit of 600,000 houses, Nkangi asked the Kensington management to replicate the project elsewhere.
The managing director, Ashish Thakkar, said the project was intended to move the country to a new benchmark of housing. “Welcome to a new living lifestyle. This is just the beginning,†he told corporate guests at the ceremony.
“We are creating something unique and modern.†The estate, he explained, is secured with CCTV cameras and will have banking, Internet, pharmacies and recreation facilities. Baggies will be used to take residents around the estate.
The head of housing, William Waraga, said housing contributes only 2% to GDP in Uganda, while in Kenya it contributes 25% and for the Asian Tigers it reaches 50%.