State Minister for Trade, Industry and Cooperatives Hon David Bahati has highlighted the need to address the widening housing gap in Uganda.
With the country’s population approaching 50 million and projected to hit 100 million in the next quarter century, the minister said deliberate steps are needed to provide adequate housing.
At the national level, Bahati said the country needs over 2.4million housing units. The Minister was speaking at the official opening of the Ugandan subsidiary of Vaal Real Estate in Kampala.
The Turkish company with operations in the Middle East, Kenya, Ghana, Egypt, Turkey, and the U.K.; opened its Ugandan branch with the launch of what is touted to be the tallest residential building dubbed Cadenza Residence in the heart of Kampala.
The building will be located on Plot 1 along Katonga Road and will feature 24 floors, including five duplex complexes on the 23rd and 24th floors.
It is expected to be completed in 2027. Hon Bahati in his remarks advised Vaal and other real estate players to take advantage of the existing tax incentives for the housing sector and the overall conducive environment provided by the government.