The Uganda Population Report published in 2007 exposed massive housing shortage to the tune of 6.1 million units, making provision of low-cost housing a top priority for the government. The housing backlog in Uganda, also in other East Africa countries, has been worsened by high urbanisation rates.
Uganda has adopted 30 incentives for the housing industry to boost the pace of building homes, among them tax remission for developers building a minimum of 20 units targeting low-income earners in a single project.The incentives are designed to encourage development of infrastructure, mobilising housing finance from various avenues including the capital markets and the diaspora.
The government is also working on finding alternative sources of housing finance to address challenges potential home buyers face trying to access mortgages.
Good investment conditions have put the country top in East Africa as a destination for foreign investment. The World Investment Report 2009 released by the United Nations Conference on Trade and Development in September showed FDI in Uganda totalled $787 million in 2008, up from $733 million in 2007.
Investment opportunities
• The provision of low cost housing in urban and semi-urban areas.
• Provision of housing and mortgage finance.
• Provision of construction equipment and building materials.
• manufacture of prefabricated concrete systems, processing of non-metallic minerals
to make tiles, and other sanitary fittings for the building industry.
For more information on these opportunities contact Uganda Investment Authority.
Issa Mukasa
Investment Promotion Division
Email: imukasa@ugandainvest.com, info@ugandainvest.com
