Build Net to put 90 apartment units to the market in 2020
Construction works for development of apartment blocks that will put 90 new housing units on to the market in 2020 have been launched by Build Net, a local real estate developer. Named Najjera Heights, the block occupies the former Match & Mix entertainment spot on the Kiwatule-Najjera road in Kira Municipality.
The developer said the units will be 1, 2 and 3 bedroom apartments. A one bedroom apartment will go for Shs 115 million, a two bed room will be Shs230 million, while a three bedroom goes for Shs 270 million.
Ibrahim Semaganda, the managing director Build Net, said while they have the intention to develop affordable housing for average income earners, but what still drives up the units’ costs are taxes on construction materials.
Government estimates that the country has a current housing deficit of over 2 million units.
Build Net joins one of the several property developers that have taken to constructing housing units which they put up on the market for sale as condominiums. Over the last few years, there is an emerging change of housing habits among Ugandans, with younger Ugandans preferring to live in apartments, as opposed to bungalows of the past. Apartments are cheaper and easier to acquire. Bungalows are more expensive to buy and own.
The developer said the prices for the condominiums are affordable for the luxury and quality they offer. Besides the apartments are located close to health centres, banks, shopping malls, food markets, schools, churches and Mosques, children’s play centre, among others.
“Najjera Heights is aimed at creating a lifetime experience of harmony and tranquillity, from spacious bedrooms with inbuilt wardrobes, spacious living and dining room space to a spacious and modern finished kitchen. At Najjera Heights, a deep dive in the swimming pool can help you calm your nerves or you can break a sweat in the modern class gym. Najjera Heights also has ample basement parking space, 24/7 CCTV surveillance and an automatic standby generator, “ Semaganda said.
Recently, Parliament passed the Tenants and Landlords Bill, which if signed by the President becomes law, but largely believed by actors as intended to protect tenants from being charged rent in foreign currency (US$),change the terms or no notice evictions, regular increment of rent, among others.