Housing Finance Bank has signed a Memorandum of Understanding with the Buganda Kingdom to enable people access mortgage financing to acquire affordable housing units in Mirembe Villas estate in Sentema.
The MoU will see the development of 400 housing units comprising of one to three bedrooms on 50 acres, a vocational school on 10 acres, an industrial park on 50 acres as well as restaurants, shopping mall, clinic and other recreational sites, in Sentema located only 13 kms from the Kampala Northern By-Pass.
Single bedroom house goes for Shs58 million, two bedroom at Shs95 million and three bedrooms at Shs130 million.
Speaking at the signing of MoU, Katikkiro Charles Peter Mayiga said; “You gauge the development of a country by looking at how its people are housed. We have a housing crisis in Uganda.”
“I am happy for this partnership between Buganda Land Board (BLB), Gouji and Housing Finance Bank which will enable people to get access to credit to buy housing units being built at Sentema.”
The Managing Director (MD) of Housing Finance Bank Mr. Mugabi Micheal said; “Uganda has a deficit of 2.5 million housing units. We are therefore happy to be part of this project to help people acquire affordable housing. We are long time partners of Buganda Kingdom.”
Ms. Wind Shen from Guoji group said; “We are happy to be part of this ceremony and the entire process of helping people have access to affordable quality housing. We started partnering with Buganda five years ago with Mirembe villas.”