The Consul General of Uganda’s Consulate in Dubai, Ambassador Henry Mayega, the Chief Executive officer of National Housing and Construction Company (NHCC) Eng. Kenneth Kaijuka and Reportage Properties’ Alkesh Rajput have met to explore potential in the Uganda housing market.
Reportage Properties intends to invest in real estate in Uganda and is seeking to partner with NHCCL in several ventures that will include, in terms of location, but not limited to, Luzira, Bugolobi and Buganda Road.
According to Amb.Mayega, the two companies are to develop a memorandum of Understanding that will guide the partnership. Last week, Reportage Properties launched one of its mega projects at Buganda Road.
Eng. Kenneth Kaijuka, the Chief Executive Officer of NHCCL said it is important that they structure their relationship and are happy to deal with Reportage as their partners.
“Our mandate is to increase the housing stocks in the country, rehabilitate the housing industry and encourage Ugandans to own homes in an organized environment. But also, we are not stopped from getting other construction work and other business,” he said.
He said when the Ambassador is looking for you (Investors), he is looking for money. We have everything starting from construction materials to the market. Then the magic in the equation is normally how we attract favorable financing.
Rajput said when you have an international partner, they put up structures which meet the international standards and the cost will be slightly higher and I cannot afford to sell at an affordable price. But I’m not going to demonstrate that we should get a lot of very expensive units.
“You cannot have two drivers in one car. So, I will drive the car. But I need your support. And your support is very important and essential because you are very strong in this market. And you are the one who basically developed the entire country,” he said.
He said the company is worth $4.5 billion. We have done 11,000 units in six years. We are expanding. We have international presence, which will also add value to our projects in terms of sales.
