National Housing and Construction Corporation(NHCC) a state enterprise mandated to build affordable housing for the population is pushing for the enactment of real estates bill into law.
According to National Housing Chief Executive Officer Kenneth Kaijuka says due to lack of real estates law in place there is unregulated real estates business practices, poor planning and developments in urban cities.
“We would like legislators to help us enact real estates bill into law. We are every certain that once this law is in place will regulate the current mixed developments and stream line real estate stakeholders,” Kaijuka said.
He made the remarks at the company’s new year prayer session held at the head quarters for staff, clients and partners.
On new strategies to grow the housing sector, Kaijuka said soon they will launch their independent road construction subsidiary so as to upgrade their real estates market share.
The move according to Kaijuka will enable the company generate more revenue after being hit by the two years of Covid lock down.
” We were not spared by covid 19 pandemic effects as business entity. Most of our tenants shifted because they no longer afford rent hence we lost revenue however post covid the board decided that we establish fully fledged road construction as a subsidiary to make our work relevant in the market place, “Kaijuka said.
National Housing and Construction Company (NHCCL) is the leading developer of quality housing in Uganda.
The state enterprise has a mandate to increase the housing stocks in the country, rehabilitate the housing industry and encourage Ugandans to own homes in an organized environment.
Currently NHCC owns houses in Lubowa, Bugolobi, Nakasero, Kololo, Mbarara, Namugoona, Jinja, Naalya, Kiwatule and Wakiso.
Commenting about this year’s expansion plans, Kaijuka said they intend to roll out construction of more affordable houses in Kampala in places like Kasokoso, Bukerere, Naalya, Bugolobi and other parts of country including lira, Mbarara and Mbale districts in a bid to address housing deficit in 2023.
According Kaijuka Uganda needs close to 1.5million housing units per year to address current housing needs due to high population growth rate of 3.4%.
He further says NHCC plans to launch its satellite housing estate in Bukerere that will accommodate 50,000 housing units with available modern amenities.